Citic Securities Company Limited(600030)
about
Tongyu Heavy Industy Co.Ltd(300185)
The gem issues convertible corporate bonds to unspecified objects
Listing recommendation
Sponsor (lead underwriter)
North block, excellence Times Plaza (phase II), No. 8, Zhongxin Third Road, Futian District, Shenzhen, Guangdong
January 2002
statement
Citic Securities Company Limited(600030) accepts the entrustment of Tongyu Heavy Industy Co.Ltd(300185) to act as the sponsor of Tongyu Heavy Industy Co.Ltd(300185) issuing convertible corporate bonds to unspecified objects and issue a listing recommendation letter for this issuance.
The recommendation institution and the designated recommendation representative shall, in accordance with the company law of the people's Republic of China (hereinafter referred to as the "company law"), the securities law of the people's Republic of China (hereinafter referred to as the "Securities Law"), the administrative measures for the registration of securities issuance of companies listed on the gem (for Trial Implementation) (hereinafter referred to as the "administrative measures for registration"), and other relevant laws Regulations and relevant regulations of China Securities Regulatory Commission (hereinafter referred to as "CSRC") and Shenzhen Stock Exchange (hereinafter referred to as "Shenzhen Stock Exchange"), be honest, trustworthy, diligent and responsible, issue the listing recommendation letter in strict accordance with the business rules, industry practice norms and ethical standards formulated according to law, and ensure the authenticity, accuracy and integrity of the documents issued.
catalogue
Declare that 1 catalog 2 interpretation Section 1 basic information of this securities issuance four
1、 Basic information of the issuer four
2、 Overview of this offering seventeen
3、 Information of project sponsor representative, CO sponsor and other members of the project team twenty-seven
4、 The relationship between the sponsor and the issuer Section 2 commitments of the sponsor thirty
1、 The general commitment of the sponsor to the listing thirty
2、 The sponsor's commitment to the listing one by one Section III recommendation conclusions of the recommendation institution on the issuance and listing of Securities thirty-two
1、 Decision making procedures for this securities issuance thirty-two
2、 The sponsor's statement that the issuer's securities issuance meets the listing conditions thirty-two
3、 Work arrangement during continuous supervision of the company forty-one
4、 Sponsor conclusion forty-two
interpretation
In this listing recommendation letter, unless the context otherwise requires, the interpretation of relevant terms is consistent with the due diligence report of the sponsor.
Citic Securities Company Limited(600030) and its recommendation representatives have issued the listing recommendation letter in strict accordance with the business rules and industry self-discipline norms formulated in accordance with the company law, the securities law, the measures for the administration of registration and other relevant laws and regulations and the relevant provisions of the CSRC and the Shenzhen Stock Exchange, and ensure that the documents issued are true, accurate and complete.
Section 1 basic information of this securities issuance
1、 Basic information of the issuer (I) basic information of the issuer
Project content
Chinese name Tongyu Heavy Industy Co.Ltd(300185)
English Name: Tongyu Heavy Industry Co., Ltd
Registered address: national high tech Industrial Development Zone, Dezhou (Yucheng), Shandong Province
The registered capital is 3896.783221 million yuan
Date of establishment: May 25, 2002
Stock abbreviation Tongyu Heavy Industy Co.Ltd(300185)
Stock Code: 300185
Shenzhen stock exchange where the shares are listed
Company domicile: Dezhou (Yucheng) national high tech Industrial Development Zone, Shandong Province
Legal representative: Ou Huisheng
Unified social credit code 913700001675754710
Manufacturing and sales of large forging blanks, electroslag ingots, forgings, pipe molds, CNC machine tools, general machinery and non-standard equipment; Import and export of goods and technology; Casting, welding parts, business scope: design, manufacture and sales of bridge cranes, gantry cranes, pressure vessels and non-standard complete sets of nuclear power equipment; Professional contracting of steel structure engineering. (for projects subject to approval according to law, business activities can be carried out only after approval by relevant departments).
Tel.: 0534-7520688
Fax: 0534-7287759
Postal Code: 251200
Internet address: www.tongyuheavy.com com.
E-mail [email protected].
（2） Business information of the issuer
The company is an emerging major equipment R & D and manufacturing enterprise in China. It has been awarded the honors of high-tech enterprise, the first batch of environment-friendly enterprises in Shandong Province, circular economy demonstration enterprise in Shandong Province, advanced energy-saving enterprise in Shandong Province, Chinese patent Shandong Star Enterprise, etc. it has the right of self-supporting import and export, provincial enterprise technology center and engineering technology research center, It has passed ISO9001 quality system, ISO14001 environmental management system, OHSAS18000 occupational health and safety management system certification and nine classification societies certification in Norway, the United States, Germany, Italy and France.
The business segments of the company mainly include wind power spindle, ductile iron pipe die, other forging products, forging blank (steel ingot), castings and other large forging castings, as well as cemented carbide, wind power equipment modularization and equipment products. Among them, wind power spindle, pipe die and other forgings belong to forging products, so their production capacity can be allocated and used, Ensure that the company can flexibly adjust production arrangements.
The company has been engaged in the R & D, manufacturing, sales and after-sales service of large castings and forgings for a long time. Relying on the three core production processes of forging, casting and welding and as one of the few comprehensive manufacturing platforms in China, the company has formed a collection of smelting / electroslag remelting, casting / forging, heat treatment, welding, machining, design, manufacturing, coating and The complete industrial chain integrating logistics and transportation can provide core components of large-scale high-end equipment for energy and power (including wind power, hydropower, thermal power and nuclear power), mining, petrochemical, marine equipment, pressure vessels, machinery, military industry, aerospace and other industries. The main business of the company is analyzed according to the key application fields of the company's products and services, as follows:
1. Wind Turbine Spindle products
Wind turbine spindle is a key component of wind turbine equipment. It is mainly used to connect blade runner and booster engine in wind turbine. It is the core product of the forging business segment of the company. The company's Wind Turbine Spindle products have complete specifications, which can be applicable to a variety of wind turbine specifications such as 0.6mw-8.0mw. The customers of the products include many well-known wind turbine manufacturers in China, such as GE, Denmark Vestas, Germany Ende, CSIC, Dongfang Electric Corporation Limited(600875) , Shanghai Electric Group Company Limited(601727) , Guodian united, vision Energy Co., Ltd.
2. Ductile iron pipe mould products
Pipe mold products are mainly used for centrifugal casting of nodular cast iron pipes. In the production process of nodular cast iron pipes, the pipe mold is installed on the centrifugal pipe casting machine and rotates at high speed. The outer surface of the pipe mold is contained by cooling water, and the inner surface is directly in contact with high-temperature molten iron at 1350 ℃ - 1400 ℃. It bears the effects of variable thermal stress, tensile stress and torsional stress for a long time, and consumes rapidly. It is an industrial consumable. The main customers of the company in China are Xinxing Ductile Iron Pipes Co.Ltd(000778) , Angang Group Yongtong Ductile Iron Pipe Co., Ltd., and the main foreign customers are India electric steel casting Co., Ltd. (the largest casting pipe manufacturer in India), Fuji Heavy Industry Co., Ltd., etc.
3. Other forging products
There are many kinds of other forging products of the company, including shaft, cylinder, gear ring and other forgings. The main product forms include marine shafting forgings, power equipment shafting forgings, pressure vessel cylinder section forgings, etc. the products are widely used in power, metallurgy, mining, cement, chemical industry and heavy machinery manufacturing. The company's main downstream customers include Germany ThyssenKrupp AG, Zhejiang Fuchunjiang Hydropower Equipment Co., Ltd., Luoyang Zhongchuang Heavy Machinery Co., Ltd., Sinosteel Xingtai mechanical roll Co., Ltd., Dongfang Electric Corporation Limited(600875) Group Dongfang Motor Co., Ltd., Harbin Electric Gas Group Co., Ltd., Nanjing high precision transmission equipment manufacturing group Co., Ltd Sinoma Equipment Group Co., Ltd., Dongfang Boiler Co., Ltd., Pinghu Zhongzhou Heavy Machinery Co., Ltd., etc.
4. Casting business segment
The casting business segment of the company mainly produces key core components of wind power, including direct drive and doubly fed fan hub and frame, fixed shaft and rotating shaft of direct drive fan, doubly fed wind power bearing seat, etc. Customers of wind power products include Germany Ende, Nanjing Wind Power Technology Co., Ltd., Dongfang Electric Corporation Limited(600875) Group Dongfang Motor Co., Ltd., Sany Heavy energy, etc. （3） Core technology and R & D level of the issuer
The company has carried out a lot of independent innovation in the process of production and operation, and has 158 patented technologies with independent intellectual property rights, including 54 invention patents and 104 utility model patents.
The company pays attention to transforming patents and proprietary technology into productivity. Through the application of proprietary technology "forging process of fiber retaining Wind Turbine Spindle", the problem that the steel ingot segregation area is exposed on the forging surface and is prone to surface micro defects is solved. Through the semi die forging process of local upsetting, the ability of the spindle to resist fatigue cracks is increased and the service life of the spindle is prolonged; Through the stepped deep hole Nesting Technology for ductile iron pipe mold, such as large diameter deep hole nesting processing technology and process equipment, special-shaped workpiece nesting machine tool, a boring tool device and step deep hole transition arc processing method, the utilization rate of materials is greatly improved; Through the design and application of proprietary technology "water cooled copper plate crystallizer", the speed of liquid steel cooling is accelerated, the macro segregation of ingot is improved, and the quality of ingot and the yield of forging are improved.
At present, the company has formed an independent innovation system of "production generation, reserve generation and development generation". There are not only high-tech products represented by MW wind turbine spindle, ductile iron pipe mold, large Electroslag Remelting Ingot, remote control crane for intelligent treatment of nuclear waste and mobile plant, but also high-efficiency solidification production line of boron containing waste liquid in nuclear power plant 600000 kW generator rotor, large marine low-speed diesel engine crankshaft, ultra thick wall hydrogenation reactor forgings, ultra large diameter ring forgings and other products to be industrialized, as well as direct drive wind turbine generator rotor, reactor for key oil upgrading device, 600000 / 1000000 kW thermal turbine generator rotor and other products under development, It has laid a foundation for the company to maintain the core competitiveness of products.
During the reporting period, the amount of R & D investment of the company showed an upward trend, and the proportion of R & D investment in the current operating revenue was 2.34%, 2.78%, 2.77% and 2.60% respectively.
Project: January September 2021, 2020, 2019, 2018
R & D investment amount (10000 yuan) 11127.9815738.0411203.028271.86
Accounting for 2.60% 2.77% 2.78% 2.34% of operating revenue
（4） Main operating and financial data and indicators
1. Main data of consolidated balance sheet
Unit: 10000 yuan
Project 2021 2020 2019 2018
September 30 December 31 December 31 December 31
Current assets 651925.09645712.87663396.16500238.62
Non current assets 613043.56596140.90566128.70536359.71
Total assets 1264968.651241853.771229524.861036598.33
Current liabilities 557524.13557067.04568652.75400176.89
Non current liabilities 54283.96107857.45111195.14103143.06
Total liabilities 611808.09664924.49
