Securities code: Angel Yeast Co.Ltd(600298) securities abbreviation: Angel Yeast Co.Ltd(600298) Lin No. 2022035 Angel Yeast Co.Ltd(600298)
Announcement on implementing the technical transformation project of yeast extract production line of Liuzhou company
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 individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Important content tips:
● project name: technological transformation project of yeast extract production line of Liuzhou company ● project amount: 43.57 million yuan (including 4.97 million yuan of value-added tax)
● special risk warning: the market is less than the expected risk, and the project income is less than the expected risk
1、 Project overview
(I) in order to improve the scale effect of yeast extract production capacity, meet the high growth demand of the market and consolidate the leading position of yeast extract industry, the company's subsidiary Angel Yeast Co.Ltd(600298) (Liuzhou) Co., Ltd. (hereinafter referred to as Liuzhou company) plans to implement the technical transformation project of yeast extract production line (hereinafter referred to as the project).
(II) the implementation of this project has been approved by the 39th meeting of the 8th board of directors of the company with 11 affirmative votes, 0 negative votes and 0 abstention. The independent directors of the company have expressed independent opinions.
(III) according to the relevant provisions of the articles of association and the Listing Rules of Shanghai Stock Exchange, this project will be implemented after being reviewed and approved by the board of directors of the company.
(IV) the implementation of this project does not belong to related party transactions and major asset restructuring.
2、 Basic information of Liuzhou company
Liuzhou company was established on October 17, 2011 with a registered capital of 171 million yuan. Its registered place is Hexi Industrial Park, Liucheng County, Liuzhou City, Guangxi. Its legal representative is LV Jiangbo, and it is the holding subsidiary of the company. Liuzhou company is mainly engaged in yeast and yeast products, biological products, food and food additives, feed and feed additives, fertilizers and other related products. At present, the production capacity of yeast extract of Liuzhou company has reached 35000 tons.
As of December 31, 2021, Liuzhou company had total assets of 903203 million yuan, total liabilities of 3488064 million yuan, total current liabilities of 1279492 million yuan, net assets of 554394 million yuan, operating income of 9682289 million yuan and net profit of 823571 million yuan (the above data have been audited).
3、 Basic information of the project
(I) basic scheme of the project
1. Overall plan: it is proposed to build the technological transformation project of yeast extract production line in the reserved space of production department I and Production Department II of Liuzhou factory.
2. Construction content: the project design scheme is divided into three parts. The first and second parts are implemented in the first production department. It is planned to add continuous fermentation tank, yeast separator and supporting cooling water tower to improve the capacity of secondary autolysis storage tank of high nucleic acid products. The third part is implemented in the second production department. It is proposed to build a new drying tower, evaporation system and semi-finished product buffer storage tank.
3. Project site selection: the project is located in the reserved space of production department I and Production Department II of Liuzhou factory.
4. Capital demand: the estimated investment is 43.57 million yuan (including 4.97 million yuan of value-added tax).
5. Fund raising: all the funds required are self raised by Liuzhou company.
6. Schedule: the project is planned to be approved in March 2022, complete the design and procurement plan in April, complete the installation of supporting power supply main transformer in July, complete the technical transformation of enhanced flexible manufacturing of the production line in November, and complete the technical transformation of capacity increase of the production line in February 2023.
(II) project construction guarantee
The project site is Liuzhou company's reserved construction land, which can make use of the existing water, electricity and supporting resources, as well as perfect environmental protection water treatment facilities. The land, steam, power supply, water supply, drainage, logistics, communication and other infrastructure and objective construction conditions required for the implementation of the project have perfect solutions to meet the needs of the project.
(III) environmental protection of the project
The installation of new systems, equipment and facilities of the project shall be carried out in strict accordance with relevant national building and fire protection laws and regulations for building fire rating, design, construction and acceptance. The implementation of the project strictly abides by relevant national environmental protection laws and regulations, the principle of sustainable development of environmental protection and the requirements of "three Simultaneities", designs, constructs and operates environmental protection treatment facilities to ensure that environmental protection treatment meets national standards.
(IV) necessity of project implementation
With the rapid growth of yeast extract market, the company's existing extract production capacity is basically full, facing the objective demand of further expanding production capacity. At the same time, the current small variety of extracts and trial products of Liuzhou company have small output and many batches, which occupy the existing large single product production equipment for a long time and affect the production efficiency; With the trend of product customization becoming more and more obvious, the existing process and equipment can not meet the needs of customers, and the risk of product quality problems increases. The implementation of this project can give full play to the production capacity of the extract production line of Liuzhou company, effectively improve production efficiency, improve product quality, reduce product cost and enhance the overall competitiveness of the company.
(V) financial feasibility analysis
After the project is completed, the annual sales revenue is 77.3 million yuan, the annual cleaning cost is 740000 yuan, the depreciation cost is 2.56 million yuan, the new profit is 7.06 million yuan, the investment return rate is 19%, and the static investment payback period is 5.25 years. From the perspective of financial indicators, the project has high investment income and financial feasibility.
4、 Impact on Listed Companies
The implementation of the project conforms to the direction of the 14th five year plan of the company. After the implementation of the project, there will be significant changes in production capacity, quality control and cost control, which will help to improve the core competitive advantage of the company's extract as a whole, help the company grasp the opportunity of rapid development of yeast extract market, give full play to the advantages of yeast technology, and accelerate the realization of the company's 14th five year plan strategy and the plan of "striving to become the largest yeast extract manufacturer in the world", It is conducive to enhancing the sustainable profitability and comprehensive competitiveness of listed companies, continuously promoting the steady and healthy development of the company, and there is no damage to the interests of listed companies and shareholders.
5、 Risk analysis of the project
The project mainly has the risk that the market is not as expected, resulting in the idle production line and the income of the project does not meet the expectation.
The company will strengthen the depth of product development, strengthen brand publicity and the development breadth of market customers, and optimize according to the market conditions to reduce production costs, improve quality and enhance the core competitiveness of products.
6、 Procedures to be performed
This proposal shall be implemented after being approved by the board of directors.
7、 Directory of documents for future reference
(I) resolutions of the 39th meeting of the 8th board of directors;
(II) resolutions of the 34th meeting of the 8th board of supervisors;
(III) independent opinions signed by independent directors of the company.
It is hereby announced.
Angel Yeast Co.Ltd(600298) board of directors March 29, 2022
