Securities code: Appotronics Corporation Limited(688007) securities abbreviation: Appotronics Corporation Limited(688007) Announcement No.: 2022019 Appotronics Corporation Limited(688007)
Announcement on the extension of some raised investment projects
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal responsibility for the authenticity, accuracy and integrity of its contents according to law.
Appotronics Corporation Limited(688007) (hereinafter referred to as "the company") held the 9th meeting of the 2nd board of directors and the 8th meeting of the 2nd board of supervisors respectively on March 18, 2022, reviewed the proposal on the extension of some raised investment projects, and agreed that the company should adjust the time when some raised investment projects reach the expected usable state. The independent directors of the company have expressed their independent opinions on this matter, and the sponsor Huatai United Securities Co., Ltd. has issued clear verification opinions on this matter. This matter does not need to be submitted to the general meeting of shareholders of the company for deliberation. The relevant information is hereby announced as follows:
1、 Basic information of raised funds
With the approval of registration of Appotronics Corporation Limited(688007) initial public offering (zjxk [2019] No. 1163) issued by the China Securities Regulatory Commission, the company issued 68 million new shares in July 2019, raising a total of 119 million yuan. The net amount of funds raised after deducting underwriting fees, sponsorship fees and other listing fees was 106247079773 yuan. The raised funds were in place on July 16, 2019, and the capital verification report (tjy [2019] No. 7-62) has been issued by Tianjian Certified Public Accountants (special general partnership). The company has adopted the special account storage management for the raised funds in accordance with the regulations, and signed the tripartite supervision agreement for the raised funds with the recommendation institution and the special account supervision bank.
2、 Investment projects with raised funds
As of January 31, 2022, the specific use of the company's raised funds is as follows:
Unit: 10000 yuan
As of January 2022, the original plan has reached the pre serial number, project name, total project investment on the 31st day, and the date of cumulative investment in the fixed usable state
1 research and development of new generation laser display products 31 Qingdao Tgood Electric Co.Ltd(300001) 883126 March 2022
Industrialization project
2 Appotronics Corporation Limited(688007) headquarters R & D center project 284 Digital China Group Co.Ltd(000034) 1198 August 2022
3 information system upgrading and construction project 7 China Vanke Co.Ltd(000002) 36838 March 2022
4 supplementary working capital 33 Lepu Medical Technology (Beijing) Co.Ltd(300003) 353950 [note] -
Total 100 Shenzhen Fountain Corporation(000005) 815112 -
Note: during the use of the supplementary working capital project, the total financial income generated by the special account is 2.395 million yuan, which has been put into use, so the cumulative investment amount exceeds the total investment of the project.
3、 Details of the extension of this raised investment project
(I) postponement of this raised investment project
In combination with the actual construction and investment progress of some of the company's raised capital investment projects, the time for some raised capital investment projects to reach the expected usable state shall be adjusted without any change in the investment purpose and investment scale of the raised capital. The details are as follows:
S / n item name original plan reached scheduled availability date reached scheduled availability date used status date
1 new generation laser display product R & D and industrialization project March 2022 December 2022
2 Appotronics Corporation Limited(688007) headquarters R & D center project August 2022 December 2023
3 information system upgrading project March 2022 December 2023
(II) reasons for the delay of this raised investment project
1. Reasons for the delay of "R & D and industrialization project of new generation laser display products"
The construction content of the project is to increase the investment in R & D equipment, continuously absorb and cultivate excellent R & D talents, carry out a large number of forward-looking laser display technology R & D and realize industrial application; Expand production sites and increase production equipment to expand the production capacity of a new generation of laser display products.
In order to maximize the benefits obtained from the investment of raised funds, the company is cautious in the specific planning and use of funds of the project. Based on the principle of cost control and risk reduction, in the past two years, under the macro impact of covid-19 epidemic and general core shortage in the industry, according to the actual situation of existing capacity and demand, the company has been more cautious in the progress of capacity expansion to deal with the uncertainty of the macro environment. Based on the above reasons, the investment process of the project is less than expected. Therefore, the company will extend the follow-up construction period of the "new generation laser display product R & D and industrialization project" to December 2022.
2. Reasons for the delay of " Appotronics Corporation Limited(688007) headquarters R & D center project" and "information system upgrading and construction project"
The construction content of " Appotronics Corporation Limited(688007) headquarters R & D center project" is to build electronic laboratory, optical laboratory, precision manufacturing and packaging laboratory, imaging laboratory, standardization laboratory, reliability laboratory, EMC laboratory, etc. in Appotronics Corporation Limited(688007) headquarters building.
The construction content of "information system upgrading and construction project" is to optimize and update the existing information management system and the supporting computer room of the production base, establish server virtualization, desktop virtualization office platform and data center, intelligent manufacturing and warehousing logistics system, and introduce intelligent analysis system and related supporting hardware.
The " Appotronics Corporation Limited(688007) headquarters R & D center project" can only be put into use on a large scale after the construction of the company's headquarters building is completed, and some construction contents of the "information system upgrading construction project" can also be put into use after the construction of the company's headquarters building is completed.
At present, the main body of the company's headquarters building is still under construction. The delay of the above two projects is mainly affected by the slowdown of the construction progress of the company's headquarters building, so the implementation progress of the project does not meet expectations. The main reasons are as follows:
First, covid-19 epidemic repeatedly delayed the progress of project implementation. Covid-19 epidemic is repeated, the project construction work is intermittent, and the movement of workers in different places is limited, which has a serious impact on the construction progress of the company's building.
Second, due to the complex geological conditions of the project construction, a large number of rock mountains need to be excavated. Due to the inability to take blasting construction, the foundation pouring of the project has been greatly delayed, resulting in the overall construction progress being delayed by about half a year compared with the plan.
Third, because the project of the building is constructed simultaneously with the other three adjacent projects and located in the same foundation pit, and the follow-up must share the only ramp to transport soil, the construction progress is delayed by about four months compared with the plan due to mutual influence.
According to the current construction progress of the company's headquarters building and through comprehensive evaluation and analysis, the company plans to extend the follow-up construction period of " Appotronics Corporation Limited(688007) headquarters R & D center project" and "information system upgrading construction project" to December 2023.
4、 Necessity and feasibility of continued implementation of some of the investment projects with raised funds
According to the relevant provisions of the guidelines for self discipline supervision of listed companies on the science and Innovation Board of Shanghai Stock Exchange No. 1 - standardized operation: if the completion period of the latest raised capital investment plan is exceeded and the amount of raised capital investment does not reach 50% of the relevant planned amount, the science and innovation company shall re demonstrate the feasibility and expected income of the raised investment project and decide whether to continue to implement the project.
The Company re demonstrated the necessity and feasibility of " Appotronics Corporation Limited(688007) headquarters R & D center project" and "information system upgrading and construction project". The main reason for the delay of the two projects is that the main body of the company's headquarters building is still under construction, resulting in the lack of preconditions for the implementation of the project. The extension of the two projects has not changed the content, total investment and implementation subject of the project construction. It is still necessary and feasible to continue the implementation of the project.
(I) Appotronics Corporation Limited(688007) headquarters R & D Center Project
1. Necessity of project construction
(1) It is conducive to further improve the company's technology R & D capability
The company is mainly engaged in the design, R & D, production and sales of laser display core devices and products, and the laser display device industry has high technical requirements. The company will further improve the software and hardware level of technology development by establishing the R & D center of the headquarters, and create a research and development system combining core basic technology with application technology in the product industry, so as to continue to strengthen the company's technical leading edge in the field of laser display. The newly-built R & D center of the headquarters will help scientific researchers to conduct forward-looking research on the development trend of products, focus on key technical topics that have a significant impact on the development of the company, test newly designed products, and increase technology and product reserves, so as to maintain the technical competitive advantage of the company.
(2) It is beneficial for the company to enhance the training and reserve of professional and technical talents
At present, the company's R & D conditions are limited by the use area and aging of experimental equipment. On the one hand, the existing R & D conditions are difficult to meet the company's future expansion plan for the scientific research team. On the other hand, the company's scientific research team needs more advanced laboratories and experimental equipment for new technology R & D. Therefore, the company needs to build a R & D center to enhance the training and reserve of professional and technical talents.
(3) It is conducive to the company's improvement of product R & D and testing capabilities and product performance
In terms of R & D, because laser display products are high-tech products and have a fast updating speed, the R & D and testing links of products are facing great challenges. The existing software and hardware facilities in the company's laboratory can no longer meet the needs of the company to further develop the most cutting-edge products. In terms of testing, high-end laser display products have high requirements for durability, environmental adaptability, reliability, heat dissipation and other performance. The company needs to test and upgrade the performance of products in order to continue to build high-quality products that satisfy the market. The construction of the R & D center of the headquarters will comprehensively expand and upgrade the company's laboratories, so as to provide practical software and hardware guarantee for improving the company's product R & D and testing ability and ensuring product quality.
2. Feasibility of project implementation
(1) The market demand of laser display is broad in the future
Laser display is an emerging industry and is in the stage of rapid growth. The application of laser display technology has radiated from the traditional markets such as cinemas and engineering to the emerging home display market, and now to the fields of vehicle display, aviation display and AR, which can continuously extend new large-scale application scenarios. This is a new creation from scratch. The laser display market has broad demand and great potential. The investment environment of the company provides a broad market prospect for the project.
(2) The company's R & D team and R & D strength ensure the smooth progress of the project
The company always adheres to technological innovation and always attaches importance to the construction of R & D and design platform and the training of scientific researchers. The organizational structure of the company's R & D center is perfect, and the main core R & D personnel are doctors, from well-known colleges and universities outside China. By June 2021, the company has employed 391 R & D personnel, accounting for more than 30% of the total number of employees. The R & D team will be further expanded in the future. The company's investment in scientific research is basically increasing year by year, and sufficient scientific research funds provide an important guarantee for strengthening R & D strength. Through patent applications in China, the United States, Japan, Europe and other countries, the company has formed a protection system for independent original intellectual property rights. As of June 2021, the company has obtained more than 1200 patents in total. To sum up, the company's existing professional technical team and R & D strength provide a good foundation for the implementation of raised investment projects.
(II) information system upgrading construction project
1. Necessity of project construction
(1) Improve management efficiency and enhance the company's decision-making ability
With the continuous expansion of business scale, the management of the company has increasingly strong requirements for improving strategic analysis ability and decision-making quality. In order to match the business development scale, improve the office and management efficiency of the company and the timeliness of management's decision-making of the company, the continuous upgrading of information management system has become a necessary measure for the sustainable operation of the company.
(2) Implement the construction of information systems such as data center and R & D platform to strengthen the company's data security
Information security management plays a vital role in keeping business secrets, maintaining technological achievements, scientific management of technological research and development and ensuring information security. The server, switch, storage and other equipment of the system software carried by the company have been used for a long time; Secondly, as the company is a research and development enterprise, the research and development of core technology is highly dependent on software system control. If a network security accident occurs, it will cause incalculable losses to the enterprise. Therefore, it is necessary for the company to increase the investment in the upgrading of information hardware equipment and information security.
Through the construction of informatization project, the company plans to set up a new data center in the new headquarters building, update the original aging hardware equipment, and purchase equipment with safety visualization, continuous detection and other functions; Build a new R & D management platform and
