Anxin Securities Co., Ltd
About Guangzhou Tinci Materials Technology Co.Ltd(002709)
Verification opinions on adjustment and extension of construction contents of some raised investment projects
Anxin Securities Co., Ltd. (hereinafter referred to as "Anxin securities" and "sponsor") as the sponsor of Guangzhou Tinci Materials Technology Co.Ltd(002709) (hereinafter referred to as " Guangzhou Tinci Materials Technology Co.Ltd(002709) " and "the company") for non-public offering of shares in 2020, In accordance with the measures for the administration of securities issuance and listing recommendation business, the guidelines for the supervision of listed companies No. 2 - regulatory requirements for the management and use of raised funds by listed companies, the stock listing rules of Shenzhen Stock Exchange, the guidelines for the self-discipline supervision of listed companies of Shenzhen Stock Exchange No. 1 - standardized operation of listed companies on the main board and other relevant provisions, The construction content adjustment and extension of Guangzhou Tinci Materials Technology Co.Ltd(002709) some raised investment projects have been carefully checked. The details are as follows:
1、 Overview of funds raised by non-public offering in 2020
With the approval of the reply on approving Guangzhou Tinci Materials Technology Co.Ltd(002709) non-public shares issued by the China Securities Regulatory Commission (zjxk [2021] No. 930), the company issued 24489816 ordinary shares (A shares) in a non-public manner at an issue price of 68 yuan / share, and the total amount of funds raised was 166530748800 yuan. After deducting various expenses, the actual net amount of funds raised was 164083504478 yuan. The above raised funds have been verified in the capital verification report (ztyz (2021) No. 110c000293) of Grant Thornton Certified Public Accountants (special general partnership). The company has raised funds in a special account. The listing date of the shares is June 15, 2021.
The investment projects and investment amount of the funds raised by the company's non-public offering of shares in 2020 are as follows:
No. project name: invested raised funds (10000 yuan)
1 annual output of 20000 tons of electrolyte basic materials and 5800 tons of new lithium 2680106
Electrolyte project
2 lithium battery material project with an annual output of 150000 tons 1486644
3. Sulfur based sulfuric acid project with an annual output of 400000 tons 1938543
4 lithium battery electrolyte project with an annual output of 100000 tons 1553045
5 annual output of 50000 tons of hydrogen fluoride and 25000 tons of electronic grade hydrogen fluoride 807917
Acid (100% discount) new project
6 new daily chemical materials project with an annual output of 185000 tons 3190900
7. The supplementary working capital shall not exceed 4995920
Total not exceeding 16653075
As of February 28, 2022, the actual use of the company's raised funds is as follows:
No. project name: proposed raised funds (10000 yuan) invested raised funds (10000 yuan)
1 annual output of 20000 tons of electrolyte basic materials and 580026801062297259
Ton new lithium electrolyte project
2 lithium battery material project with an annual output of 150000 tons 14866441486640
3. Sulfuric acid production project with an annual output of 400000 tons of sulfur 19385431346597
4 lithium battery electrolyte project with an annual output of 100000 tons 1553045502854
5 annual output of 50000 tons of hydrogen fluoride and 25000 tons of electricity 8079175963.11
Sub grade hydrofluoric acid (converted into 100%) new project
6 new chemical materials project with an annual output of 185000 tons for daily use 3190900956378
3、 Previous adjustments of raised investment projects
(I) lithium battery material project with an annual output of 150000 tons
On August 20, 2021, the company held the 17th meeting of the 5th board of directors, which deliberated and approved the proposal on additional investment in some raised projects with self raised funds. Based on the fact that the public auxiliary system of the company's original production base could not meet the current project construction needs of the company, the company upgraded the overall supporting facilities of the original project and added relevant construction contents such as environmental protection supporting facilities, At the same time, affected by the sharp rise in the prices of some construction hardware and steel structural materials in 2021, the overall project cost has increased. To sum up, after careful evaluation, the company will make additional investment with self raised funds for the lithium battery material project with an annual output of 150000 tons. The project construction investment is adjusted from 1605544 million yuan to 4114707 million yuan, the initial working capital is adjusted from 158939 million yuan to 510718 million yuan, and the total investment is adjusted from 3194934 million yuan to 4625425 million yuan. The planned investment in the raised funds remained unchanged, still at 148664400 yuan.
(II) sulfuric acid production project with an annual output of 400000 tons of sulfur
On August 20, 2021, the company held the 17th meeting of the 5th board of directors, which deliberated and approved the proposal on additional investment in some raised projects with self raised funds. In order to reduce pollution emissions and environmental pollution, the project team of the company made improvements to the project process. At the same time, in order to improve the continuous operation rate of the unit and ensure the long-term safe and stable operation of the unit, it is necessary to purchase some new equipment. After careful evaluation, The company will make additional investment with self raised funds for the 400000 ton sulfur based sulfuric acid project. The construction investment of the project is adjusted from 208.77 million yuan to 246757 million yuan, the initial working capital is adjusted from 24.79 million yuan to 22.942 million yuan, and the total investment is adjusted from 233.56 million yuan to 269699 million yuan.
The planned investment in the raised funds remained unchanged, still at 193854300 yuan.
On March 1, 2022, the company held the 26th meeting of the 5th board of directors, which deliberated and approved the proposal on the extension of some raised investment projects and additional investment with self raised funds. According to the progress of the 400000 ton sulfur based sulfuric acid project, in order to further ensure the emission standard of the tail gas treatment system, the newly purchased equipment adopts the two conversion and two absorption process, which can reduce the load of the tail gas treatment unit and the emission of tail gas pollutants, It is conducive to the comprehensive prevention and control of air pollution and reduce the impact on the environment. After careful evaluation, the company will make additional investment with self raised funds for the 400000 T / a sulfur based sulfuric acid project, the construction investment will be changed from 246757 million yuan to 265757 million yuan, the initial working capital will be changed from 22.942 million yuan to 230848 million yuan, and the total investment will be changed from 269699 million yuan to 2888418 million yuan. The planned investment in the raised funds remained unchanged, still at 193854300 yuan. (III) a new project with an annual output of 50000 tons of hydrogen fluoride and 25000 tons of electronic grade hydrofluoric acid (equivalent to 100%). On August 20, 2021, the company held the 17th meeting of the Fifth Board of directors, deliberated and approved the proposal on additional investment in some raised projects with self raised funds. In order to improve production safety and production cost, the company optimized the project process and needed to purchase some new equipment. After careful evaluation, The company will make additional investment with self raised funds for the new project with an annual output of 50000 tons of hydrogen fluoride and 25000 tons of electronic hydrofluoric acid (converted into 100). The construction investment of the project is adjusted from 924417 million yuan to 1075017 million yuan, the initial working capital is adjusted from 7.1383 million yuan to 9.9667 million yuan, and the total investment is adjusted from 99.58 million yuan to 1174684 million yuan. The planned investment in the raised funds remained unchanged at 807917 million yuan.
On December 10, 2021, the company held the 22nd Meeting of the 5th board of directors, which deliberated and approved the proposal on the extension of some raised investment projects and additional investment with self raised funds. In order to further ensure that the emission of tail gas treatment system meets the standard, the company added corresponding treatment equipment to the desulfurization system, tail gas treatment system, sewage treatment system and other environmental treatment systems of the project, At the same time, the material selection of key equipment is optimized. After careful evaluation, the company will make additional investment with self raised funds for the new project with an annual output of 50000 tons of hydrogen fluoride and 25000 tons of electronic hydrofluoric acid (converted into 100). The construction investment of the project is adjusted from 1075017 million yuan to 1198152 million yuan, the initial working capital is adjusted from 9.9667 million yuan to 100291 million yuan, and the total investment is adjusted from 1174684 million yuan to 1298443 million yuan. The planned investment in the raised funds remained unchanged at 807917 million yuan.
(IV) 20000 tons of electrolyte basic materials and 5800 tons of new lithium electrolyte project
On December 10, 2021, the company held the 22nd Meeting of the 5th board of directors and passed the proposal on the extension of some raised investment projects and additional investment with self raised funds. According to the progress of the project with an annual output of 20000 tons of electrolyte basic materials and 5800 tons of new lithium electrolyte, the construction of the project has been completed and entered the commissioning stage. At present, the pilot production license has been obtained. However, as the process of the project belongs to the hazardous chemical process of "two major and one key", in order to ensure the safe and stable start-up and operation of the project and reach the production standard, after careful evaluation, the company plans to extend the production time of the project with an annual output of 20000 tons of electrolyte basic materials and 5800 tons of new lithium electrolyte from October 31, 2021 to December 31, 2021.
(V) lithium battery electrolyte project with an annual output of 100000 tons
On March 1, 2022, the company held the 26th meeting of the 5th board of directors, which deliberated and approved the proposal on the extension of some raised investment projects and additional investment with self raised funds. According to the progress of the lithium battery electrolyte project with an annual output of 100000 tons, in order to meet the increasing downstream demand and the government's environmental protection requirements, the company plans to upgrade the process technology and safety and environmental protection equipment of the project. Therefore, Add some single buildings and auxiliary works to the construction content of the project; At the same time, affected by the sharp rise in the price of building raw materials, the investment cost of equipment hardware and steel structure engineering has increased, and the land delivery time has been delayed as a whole. In conclusion, after careful evaluation, the company will make additional investment with self raised funds and postpone the production of the lithium battery electrolyte project with an annual output of 100000 tons. The construction investment will be changed from 1558045 million yuan to 3085285 million yuan, the initial working capital will be changed from 1336488 million yuan to 1692545 million yuan, and the total investment will be changed from 2894533 million yuan to 477783 million yuan. The planned investment in the raised funds remained unchanged at 1553045 million yuan. The completion time of the project is extended from April 30, 2022 to July 31, 2022.
3、 Adjustment and extension of the construction content of the raised investment project
On March 18, 2022, the 27th meeting of the 5th board of directors and the 20th meeting of the 5th board of supervisors held by the company deliberated and adopted the proposal on the adjustment and extension of the construction content of some raised investment projects, which needs to be submitted to the general meeting of shareholders of the company for deliberation and approval. The details of the adjustment and extension of the construction content of the raised investment project are as follows:
(I) 20000 tons of electrolyte basic materials and 5800 tons of new lithium electrolyte project
1. Basic information of the project before this adjustment
Project name total investment of the project (10000 yuan) planned investment of raised funds (10000 yuan) construction cycle
20000 tons of electrolyte base materials per year
Material and 5800 tons of new lithium electrolysis 46395612680106 30 month quality project
2. Reasons and details of project adjustment
1) Adjustment of project construction content
The construction content of the project includes an annual output of 20000 tons of electrolyte basic materials, 4000 tons of lifsi and 1800 tons of additives. The installation of production equipment has been completed at the end of December 2021 and the trial production license has been obtained. At present, the electrolyte basic material unit with an annual output of 20000 tons and the lifsi unit with an annual output of 4000 tons have reached a stable production state. Considering the actual progress and market changes of the raised investment project, and based on the company's industrial park planning, the company plans to make up part of the production capacity of 1800 tons of additive products of the raised investment project by other park projects. Therefore, it is proposed to adjust the construction scale of the raised investment project to an annual output of 20000 tons of electrolyte basic materials
