Stock Code: 002829 stock abbreviation: Beijing Starneto Technology Co.Ltd(002829) Beijing Starneto Technology Co.Ltd(002829)
Non public offering of A-Shares in 2022
Feasibility analysis report on the use of raised funds
January 2002
catalogue
catalogue 1 interpretation 2 I. use plan of the raised funds 3 II. Details of the project invested with raised funds three
(i) UAV industrialization project four
（2） UAV System Research Institute Project eight
（3） Replenish working capital III. The impact of this issuance on the company’s operation, management and financial status eleven
(i) The impact of this non-public offering on the company’s operation and management eleven
（2） The impact of this non-public offering on the company’s financial situation 12 IV. conclusion of feasibility analysis twelve
interpretation
Unless otherwise specified, the following abbreviations have the following specific meanings
1、 General interpretation
Beijing Starneto Technology Co.Ltd(002829) . Company refers to Beijing Starneto Technology Co.Ltd(002829) the company and listed company
This non-public offering of share capital, this non-public offering of a shares, and the bank raising no more than 75 million yuan (including promissory note and this non-public development index)
A shares refer to RMB ordinary shares issued by domestic investors
Board of directors means the Beijing Starneto Technology Co.Ltd(002829) board of directors
Yuan and 10000 yuan refer to RMB yuan and 10000 yuan
2、 Professional interpretation
A military aircraft used as a shooting training target. This kind of aircraft uses remote control or target aircraft, which refers to the preset flight path and mode to simulate enemy aircraft or incoming missiles during military exercises or weapon test firing
Flight control technology is used to control different systems of the aircraft to make corresponding actions according to the preset flight control command plan or the temporarily received flight instructions during the flight of the aircraft
It is an integrated avionics system finger that links a variety of airborne electronic subsystems through multiplex data bus. It combines the existing single function decentralized systems, such as communication radio, radar and navigation equipment, and makes overall arrangements to form a multi-functional integrated system
Design and arrangement of aerodynamic shape and relative position of main components of aircraft. The aerodynamic layout design of aircraft refers to the aerodynamic layout design, which mainly includes the shape and position design of air inlet, the shape of wing surface (including wing, tail, etc.) and its layout scheme in the circumferential and longitudinal direction of fuselage
Turbojet power refers to the power provided by turbojet engine. It is characterized by completely relying on gas flow to generate thrust. It is usually used as the power of high-speed aircraft
Unless otherwise specified, the value in this report shall be kept to two decimal places. If the total is inconsistent with the mantissa of the sum of the values of each sub item, it shall be caused by rounding.
Beijing Starneto Technology Co.Ltd(002829)
Feasibility analysis report on the use of funds raised by non-public issuance of A-Shares in 2022 I. use plan of funds raised this time
The total amount of funds raised from the non-public offering of A-Shares does not exceed 75 million yuan. After deducting the issuance expenses, it is proposed to be used for the following items:
Unit: 10000 yuan
No. project name total project investment raised capital investment
1 UAV industrialization project 37000.0028000.00
2 UAV system research institute project 27500.0026000.00
3. Supplementary working capital 21000.0021000.00
Total 85500.007500.00
Before the funds raised from this non-public offering are in place, the company will invest in advance with self raised funds according to the actual progress of the investment project with raised funds, and replace them according to the relevant procedures after the raised funds are in place.
If the net amount of the actually raised funds is lower than the amount of the above projects to be invested with the raised funds, within the scope of the finally determined investment projects with the raised funds, the company will adjust and finally determine the specific investment projects, priorities and specific investment amount of each project according to the actual amount of the raised funds and the priorities of the projects, The insufficient funds raised shall be raised by the company itself. 2、 Details of investment projects with raised funds
Under the background of the rapid growth of the equipment UAV market and the continuous growth of the training UAV market, the company plans to use the raised funds to build UAV industrialization projects, further improve the UAV industrialization capacity and break through the current capacity bottleneck; At the same time, build UAV System Research Institute, strengthen UAV technology R & D capability, and further enhance the company’s competitiveness in UAV field.
Through the construction of the project invested by the raised funds, the company can further improve the technical level of UAV products, and expand UAV products from subsonic target aircraft to supersonic UAVs for training (including supersonic target aircraft and subsonic target bombs) Cluster UAVs for equipment (including on-board box launched swarm patrol missiles and air launched cluster UAVs) and vertical take-off and landing UAVs provide strong support for the subsequent development of the company. (i) UAV industrialization project
1. Project overview
Focusing on the demand of the army for UAVs, based on the company’s existing technical foundation and production management capacity, the project will develop the industrialization capacity of UAVs by purchasing land and building new production plants, supporting automatic production equipment, test and calibration equipment, environmental and mechanical test equipment, detection and test instruments, so as to meet the demand for mass production of UAVs.
The project will help the company break through the capacity bottleneck, meet the needs of market growth, obtain scale advantages and improve the profitability of the company.
2. Necessity of project implementation
(1) The implementation of the project will help the company to implement the strategic development plan and deepen the overall industrial layout
The company attaches great importance to strategic planning and has established the strategy of “leading the development of intelligent unmanned equipment with inertial technology”. Based on the company’s deep understanding of the needs in the field of military test and training, the company clearly takes UAV as the priority development direction for the strategic landing of the company’s intelligent unmanned system, and has developed a number of model products with market competitive advantages, with continuous improvement of sales revenue and market penetration.
Through the implementation of the project, the company can establish a stable and reliable UAV production line with a certain scale, improve the competitiveness of the whole machine and subsystem production links, deepen the industrial layout in the UAV field, improve the industrial status and help the sustainable development of the company.
(2) The project is conducive to improving the company’s production efficiency and capacity, so as to improve its profitability
At present, the company’s UAV production site and test site are relatively scattered. At the same time, some processes are converted to outsourcing processing due to the lack of site, equipment and facilities, resulting in the reciprocating transportation of some parts and semi-finished products in multiple places, reducing the UAV production efficiency.
By building a centralized industrialization base, the project can realize the unification of production site and test site. At the same time, some outsourced production and test processes can be transformed into independent production and test, so as to realize the integrated circulation of parts and semi-finished products, effectively improve the production efficiency of UAV, reduce the cost accordingly, and finally improve the profits of the company.
At the same time, with the transformation of military training mode, UAV temporary procurement and emergency procurement are increasing. Under these procurement modes, UAV enterprises need to have rapid production capacity to meet the needs of the military. Through the construction of UAV industrialization base, the company’s UAV production efficiency will be improved, and its ability to undertake temporary procurement and emergency purchase orders of troops will be continuously enhanced, so as to improve the company’s UAV revenue and profit level. (3) The project can improve the company’s product testing ability, product quality and product competitiveness
As an aircraft, the test and inspection coverage of UAV’s key components, components, systems and subsystems is the key factor to improve its product reliability. By establishing a test center and configuring automatic test conditions, the project can further increase the coverage of UAV test and inspection, so as to improve the quality and reliability of products. For example, the dimensions of key components such as UAV thrust cone and rocket thrust seat can be tested by configuring a three-dimensional detection system to ensure the reliability of UAV launch; The automatic pressure detection system is configured to realize the tightness detection of the oil tank; By configuring the laser three-dimensional scanning system, the accurate detection of the aerodynamic shape of the body can be realized. By improving product testing ability and product quality, we can further enhance the core competitiveness and user stickiness of the company’s products, promote the company’s business development and improve the company’s profitability.
3. Feasibility of project implementation
(1) The national support policies for UAV industry provide favorable development environment and market space for project construction
With the continuous progress and development of intelligent and information technology, UAV Systems with various functions and performance continue to innovate and develop, forming a very wide and in-depth application in all walks of life; In the military field, with the continuous development of unmanned systems such as UAV, a new competitive field and industrial competition direction for the development of unmanned weapons and equipment are constructed. In recent years, China has successively issued a number of strategic plans, policies and regulations related to UAV and other aviation equipment manufacturing industry, defined aircraft manufacturing as a national strategic high-tech industry and an important strategic position in the national economy and national defense forces, and fully supported the development of UAV industry from the aspects of development strategy, industry legislation, industrial policy and financial investment.
The project aims to complete the UAV industrialization construction by taking advantage of the good opportunity of China’s UAV industrial policy and industry development. Guided by market demand and focusing on national defense needs, the project improves the production capacity and production efficiency of the company’s UAV products, and further improves the quality and reliability of the company’s UAV products, so as to enhance the core competitiveness.
(2) The company’s customer reserves in the field of UAVs provide a solid market foundation for the project
After years of development, the company has accumulated rich customer resources in the field of UAV. For UAV sales, the company generally starts from the customer’s needs and intervenes in the product demonstration and R & D at the customer demand demonstration stage, so it has a deep understanding of the customer’s needs. In addition, in participating in the major task support of military customers, the company continuously optimizes the product functional performance, operation method and support mode, so that the products can better meet the needs of customers. Due to the long development cycle, special product functions and strict reliability requirements of such products, customers will not easily replace them once they are finalized and participate in the guarantee. At the same time, customers have a certain dependence on the company in terms of follow-up service guarantee, equipment upgrading and improvement, spare parts procurement, etc., which further enhances customer stickiness. In addition, the company’s UAVs are mainly used in the field of military training and weapon equipment test and appraisal. The customer group has a large degree of overlap with the company’s traditional product customers such as information perception and satellite communication. In the past, the company has established a good cooperation foundation with relevant customers and accumulated good market reputation and brand reputation, This has laid a solid market foundation for the company’s subsequent expansion of UAV business.
(3) The company’s UAV products have been recognized by the market and have the foundation of industrialization
Up to now, the company has successfully developed a number of UAVs with complete intellectual property rights. Most models have achieved mass production and sales, with a cumulative number of more than 1000, and the annual delivery quantity ranks among the top in China; In 2021, the number of unmanned target aircraft support force Mission Aircraft exceeded 800. The company’s products have stable flight, excellent performance and strong team support, which has been highly recognized and unanimously praised by customers. In addition, the company has a good foundation for industrialization and has initially established an industrialized operation management system. At the same time, during the production and testing of the company’s unmanned target aircraft, the production and operation team has gradually acquired relatively rich experience in industrialized production, providing a good foundation for the implementation of subsequent projects.
(4) The company has a professional UAV technology development team and rich technology accumulation, which provides a strong guarantee for the subsequent iterative upgrading of project products and the continuous maintenance of competitiveness
Through years of development, the company has built a professional and experienced R & D team, covering the fields of UAV overall design, aerodynamic layout design, structural system design, avionics system design, power system design, launch and recovery system design, measurement and control system design, etc. The company’s R & D team has realized the communication of navigation, measurement and flight control
