Securities code: Angel Yeast Co.Ltd(600298) securities abbreviation: Angel Yeast Co.Ltd(600298) Lin No. 2022033 Angel Yeast Co.Ltd(600298)
Announcement on the construction of pilot scale platform for high-value utilization of biomass
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:
● name of pilot project of biomass utilization: 1.865 million yuan
● special risk tips: risk of deviation in research direction, risk of poor product economy
1、 Project overview
(I) in order to fully meet the R & D needs of the major project of Angel Yeast Co.Ltd(600298) (hereinafter referred to as: the company) “tackling key technical problems of yeast protein industrialization with biomass as raw materials”, enrich more low-cost biomass raw materials and provide low-cost carbon source reserves for subsequent product production, the company plans to build a pilot platform project for high-value utilization of biomass in the park of Angel Yeast Co.Ltd(600298) (Yichang) Co., Ltd. (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 the project
(I) basic scheme of the project
1. Overall scheme: the project plans to build a pilot scale platform for high-value utilization of biomass in Yiting Park of Yichang company, which is designed to process 1 ton of biomass (dry) per day. Biomass raw materials are mainly bagasse and straw. Through solid-state fermentation or liquid fermentation, the development and research of yeast culture and feed yeast protein series products are carried out. At the same time, the environmental protection and by-products involved in the process are studied as resources.
2. Construction content: the project is planned to be constructed in two phases. The first phase is mainly the pretreatment, saccharification and supporting works of the pilot scale platform for high-value utilization of biomass. In phase II, equipment for continuous fermentation, autolysis, concentration and drying of yeast will be added. 3. Project site selection: Yiting Park of Yichang company, covering an area of about 2000 square meters.
4. Capital demand: the capital demand for project construction is 186537 million yuan.
5. Fund raising: self financing.
6. Schedule: the planned start-up is expected to be completed in March 2022, and the hardware equipment input, installation and commissioning are expected to be completed in July 2022.
(II) project construction guarantee
The project takes biomass (straw, bagasse, etc.) as the main raw material, with a daily processing capacity of 1 ton. It belongs to the pilot level research and test platform, with low processing capacity, and is purchased through conventional channels. The water, electricity and steam used in the production of the project are centrally supplied by Yichang company, and the sewage is treated by the internal environmental protection system of Yichang company. The project construction is feasible.
(III) environmental protection of the project
The pollutants produced during the project construction mainly include wastewater, solid waste, waste gas, noise, etc. The project will strictly abide by relevant national environmental protection regulations, the principle of sustainable development of environmental protection and the requirements of “three Simultaneities”, so as to ensure that environmental protection treatment meets national standards.
(IV) necessity of project implementation
1. The project helps to further improve the preparation level of hydrolyzed sugar and enrich yeast fermentation raw material resources. On the one hand, the implementation of this project will help to improve the R & D technology level of the company’s hydrolyzed sugar preparation in Yichang, Liuzhou and Chongzuo, and reduce the production cost of hydrolyzed sugar; On the other hand, the research on hydrolyzed sugar raw materials can enrich more low-cost biomass raw materials and provide low-cost carbon source reserves for subsequent product production.
2. The project belongs to the subject of “frontier technology and new product creation of protein feed bioengineering manufacturing” in the key special project of “breeding of new livestock and poultry varieties and scientific and technological innovation of modern pasture” in the national key R & D plan of the 14th five year plan.
3. In the follow-up of the project, it is planned to add processes such as continuous fermentation, autolysis, concentration and drying of yeast, and research and develop Candida prion protein and yeast culture products. The implementation of this project will help to further enrich the company’s products, alleviate the problem of Chinese people and livestock competing for grain, and provide high-quality protein raw materials for the feed industry.
(V) financial feasibility analysis
The construction of this project is a technology R & D project. After the completion of the project, the total annual increase cost is expected to be 2.34 million yuan, including 1.21 million yuan of project depreciation, 560000 yuan of energy consumption and sewage treatment, 450000 yuan of labor cost and 120000 yuan of raw material input cost.
3、 Impact on Listed Companies
By researching and developing new resources to replace molasses raw materials, this project enriches more low-cost biomass raw materials, solves the current difficult situation that molasses resources are controlled by people, promotes the realization of the objectives of the company’s “14th five year plan” strategic planning, helps to enhance the sustainable profitability and comprehensive competitiveness of listed companies, is conducive to the implementation of the overall business strategy of listed companies, and continues to promote the steady and healthy development of the company, There is no situation that damages the interests of listed companies and shareholders.
4、 Risk analysis of the project
(I) risk of deviation in research direction of biomass high-value utilization
There are still many uncertain factors in the utilization of biomass raw materials in biomass saccharification and fermentation yeast protein products, or there is a risk of deviation in R & D direction. The company will continue to improve its R & D efforts, strengthen the depth of development, and consider introducing external leading technology resources when necessary.
(II) the high cost of research products leads to the risk of poor product economy. The decentralization of biomass raw materials and high transportation costs lead to the rising cost of raw materials. The biomass treatment process studied at this stage needs to consume sulfuric acid and steam, and the cost of environmental protection treatment is high, resulting in the risk of weak market competitiveness of products. The company will strengthen the in-depth research on pretreatment technology and saccharification process, optimize process conditions, reduce operating costs and enhance product competitiveness.
5、 Procedures to be performed
This proposal shall be implemented after being approved by the board of directors.
6、 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
