Notice on application documents of Suzhou Uigreen Micro&Nano Technologies Co.Ltd(688661) issuing shares to specific objects
Review the reply to the inquiry letter
Sponsor (lead underwriter)
(No. 618, Shangcheng Road, China (Shanghai) pilot Free Trade Zone)
Shanghai Stock Exchange:
We have received the inquiry letter on the examination of the application documents of Suzhou Uigreen Micro&Nano Technologies Co.Ltd(688661) issuing shares to specific objects (szkss (refinancing) [2022] No. 7) (hereinafter referred to as the “inquiry letter”) issued by your exchange on January 13, 2022 Suzhou Uigreen Micro&Nano Technologies Co.Ltd(688661) (hereinafter referred to as the “issuer” and the “company”) and Guotai Junan Securities Co.Ltd(601211) (hereinafter referred to as the “sponsor”), Jiangsu century Tongren law firm (hereinafter referred to as the “issuer’s lawyer”), Tianheng Certified Public Accountants (special general partnership) (hereinafter referred to as the “reporting accountant”) and other relevant parties have checked the questions listed in the audit inquiry letter item by item. The reply is as follows, please review.
Unless otherwise specified, the abbreviation used in this reply has the same meaning as that in the prospectus for offering A-Shares to specific objects in Suzhou Uigreen Micro&Nano Technologies Co.Ltd(688661) 2021. In this reply, if there is any difference in the mantissa between the total and the sum of the sub item values, it is caused by rounding.
Review the questions listed in the inquiry letter in bold
Reply to the questions listed in the audit inquiry letter
Modification and supplement to the reply to the inquiry letter of this round of audit (BOLD)
catalogue
Question 1: about the pre raised project and this raised project 4 question 2: about the feasibility of the raised project 19 question 3: about the probe project Question 4: About replenishing working capital 54 question 5: about the calculation of financing scale and income Question 6: about gross profit margin Question 7: about other Question 1: about the pre raised project and the current raised project
According to the application materials: (1) as of September 30, 2021, the company has used 64.411 million yuan of the funds raised in the previous IPO, accounting for 20.65% of the net funds raised in the previous IPO; (2) As of September 30, 2021, the issuer’s trading financial assets were 201793 million yuan, mainly the bank financial products purchased by the issuer, and there were no trading financial assets in 20182020; (3) There is a big difference between the current raised investment project and the previous raised investment project; (4) The investment contents of the previous raised investment project and this raised investment project include construction engineering investment, purchase of production, R & D equipment and corresponding supporting facilities.
The issuer is requested to explain: (1) the latest progress and subsequent construction, fund use and expected use progress of the pre raised project, the reasons for the low use proportion of the raised fund, whether it is promoted as planned, whether there is any delay, and the specific differences between the pre raised project and the pre raised project; (2) The specific contents and uses of the equipment and construction works purchased in the previous raised investment project, the main differences and connections between this raised project and the previous raised project, whether to share the equipment and production line, whether there is duplication in the contents to be invested or purchased in the two raised investment projects, and analyze the rationality and necessity of this raised project in combination with the above situation; (3) Whether the raised funds can be clearly distinguished from the raised funds, and whether there may be mixed use; (4) Whether the time interval between the two listed issues of Kechuang securities complies with the requirements of the question and answer board 1.
Reply: I. description of the issuer
(I) the latest progress and subsequent construction, fund use and expected use progress of the pre raised project, the reasons for the low use proportion of the raised fund, whether it is promoted as planned, whether there is any delay, and the specific differences between the current raised project and the pre raised project
1. Latest progress and follow-up construction, fund use and expected progress of pre raised projects (1) latest progress and follow-up construction of pre raised projects
1) Micro electro mechanical (MEMS) precision electronic parts expansion project
The construction period of MEMS precision electronic parts expansion project is expected to be 36 months. The project construction cycle is planned to be completed in six stages, including feasibility study, preliminary planning and design, site decoration, equipment procurement and installation, personnel recruitment and training, and trial operation. As of December 31, 2021
The feasibility study, preliminary planning and design stages of the project have been completed as scheduled, and most of the construction sites have been completed
For the decoration of the site, we are promoting equipment procurement and installation, personnel recruitment and training. Subsequent companies will
According to the actual business situation, continue to promote the implementation of the project as planned.
2) Semiconductor chip test probe expansion project
The construction period of the semiconductor chip test probe expansion project is expected to be 36 months, and the construction period of the project is
The plan is implemented in six stages, including feasibility study, preliminary planning and design, site decoration and design
Preparation for procurement and installation, personnel recruitment and training, and trial operation. As of December 31, 2021, the project
The feasibility study, preliminary planning and design stages have been completed as scheduled, and the site decoration and equipment are being promoted
Procurement and installation. The subsequent company will continue to promote the implementation of the project as planned according to the actual operation.
3) R & D center construction project
The construction period of the R & D center construction project is planned to be 24 months, which is planned to be completed in six stages, including:
Feasibility study, preliminary planning, design, site construction and decoration, equipment procurement and installation, personnel recruitment and
Training and trial operation. As of December 31, 2021, the feasibility study, preliminary planning and design of the project
The planning stage has been completed as scheduled, and the site decoration and equipment procurement and installation are being promoted. Subsequent companies will
According to the actual business situation, continue to promote the implementation of the project as planned.
(2) Use of funds and expected progress
According to the capital verification report issued by Tianheng Certified Public Accountants (special general partnership) (Tianheng Yanzi (2021))
00031), the last time the company raised funds arrived was March 23, 2021.
According to the disclosed investment plan, the company will invest 1272857 yuan in the first year after the previous raised funds are in place
Million yuan, 134347200 yuan in the second year and 50324600 yuan in the third year.
As of December 2021
On January 31, the use and expected progress of the company’s previously raised funds were as follows:
Unit: 10000 yuan
By the end of the total planned use of the raised funds, the planned use of the investment amount of the raised investment projects from 2021 to 2021 has the amount of funds. The actual investment amount on the planned date is the investment amount on December 31
Micro electro mechanical (MEMS) precision electronic parts expansion project 1410613125761015 Shenzhen Sunline Tech Co.Ltd(300348) 0926322380
Semiconductor chip test probe expansion project 761965 – 284295389539
R & D center construction project 1100000 – 189422271291
Total 3272578311957515 Hubei Feilihua Quartz Glass Co.Ltd(300395) 4643983209
Note: the above actual investment amount has not been verified by certified public accountants, and the planned investment amount by the end of 2021 = the amount disclosed in the prospectus
Planned investment amount in the first year / 12 months of actually raised funds
According to the above table, the investment scale of the company’s previous raised investment project amounted to 327257800 yuan, of which it is planned to
3119575 million yuan was invested with raised funds and 15.303 million yuan was invested with self owned funds.
According to the above table, as of December 31, 2021, the total use of the company’s previously raised funds was 983209
Million yuan, and the planned use progress is 954643 million yuan, reaching the expected use progress.
2. The reasons for the low use proportion of raised funds, whether it is promoted as planned and whether there is any delay
According to the capital verification report issued by Tianheng Certified Public Accountants (special general partnership) (Tianheng Yanzi (2021))
00031), the company’s last raised funds were received on March 23, 2021, and the last raised funds were net
The amount is 311957500 yuan.
As of September 30, 2021, the time for the receipt of the previously raised funds is 6 months, and the previously raised funds have been used
64.411 million yuan, accounting for 20.65% of the net funds raised in the previous time, including 422425 million yuan of issuance expenses
Accounting for 30.11% of the total funds raised in the previous time, which is in line with the expected progress of use; As of December 31, 2021,
The arrival time of the funds raised before is 9 months, and 983209 million yuan has been used, accounting for the net amount of the funds raised before
31.52% of the total amount, including 422425 million yuan of issuance expenses, accounting for 39.68% of the total amount of funds raised in the previous time,
It also meets the expected use progress.
The reason for the low proportion of pre raised funds is mainly due to the short arrival time of pre raised funds. In addition, the company
The equipment purchased for the implementation of the pre raised project has the characteristics of high value and long procurement cycle, and is usually purchased by stages
The method of payment procurement has delayed the use progress of the raised funds to a certain extent.
Therefore, the company’s pre raised projects are promoted as planned, and there is no delay.
3. Specific differences between this offering and the previous offering
This probe project is “MEMS process wafer test probe R & D and mass production project” and “substrate level test”
Trial probe R & D and mass production project “, and the pre raised probe project is” semiconductor chip test probe production expansion project “, the main project
The differences to be:
(1) Application fields
The probe products of the company’s raised project and the former raised project are applied to the semiconductor industry chain and its downstream related fields, but they are applied to different manufacturing links. The details are as follows:
Application field of final product of raised investment project
Semiconductor chip test probe production expansion project semiconductor chip test probe product chip packaging test link (integrated circuit (pre raised project) manufacturing process)
MEMS process wafer test probe R & D wafer test probe product wafer test link (before integrated circuit manufacturing mass production project (this raised project))
Substrate level test probe R & D mass production project substrate level test probe product substrate (HDI board, IC carrier board, etc.) (this raised project) testing link
(2) Production process
The core production process of the “MEMS process wafer test probe R & D and mass production project” of the raised project is silicon-based MEMS manufacturing process, and its main processes include silicon wafer thinning, gluing, exposure, development, corrosion, electroplating deposition, testing (including electrical performance test and mechanical performance test), while the core production process of the former raised project “semiconductor chip test probe expansion project” is precision machining process, Its main processes include parts processing, polishing deposition, electroplating deposition, pre assembly, assembly, testing, etc. there are great differences in production processes and processes between the two. Taking the deposition process as an example, the deposition process of “semiconductor chip test probe expansion project” is mainly chemical deposition process, while the deposition process of “MEMS process wafer test probe R & D mass production project” is physical sputtering and chemical deposition process. The company is deeply engaged in the field of precision manufacturing and has strong experience and advantages in precision manufacturing and MEMS technology. The company is cooperating with international well-known semiconductor manufacturers such as Italian French semiconductor and NVIDIA
