Ningbo Ronbay New Energy Technology Co.Ltd(688005)
Report on the use of previously raised funds
(as of December 31, 2021)
Shanghai Stock Exchange:
In accordance with the provisions on the report on the use of the previously raised funds issued by the China Securities Regulatory Commission, the use of the previously raised funds of the company as of December 31, 2021 is reported as follows. 1、 The raising and deposit of the previously raised funds (I) the amount of the previously raised funds and the arrival time of the funds
With the approval of zjxk [2019] No. 1162 document of China Securities Regulatory Commission and the consent of Shanghai Stock Exchange, the company's lead underwriter Citic Securities Company Limited(600030) adopts the combination of directional placement to strategic investors, offline inquiry placement to qualified investors, and online pricing issuance to social public investors holding non restricted A-share shares and non restricted depositary receipts in Shanghai market, 45 million RMB ordinary shares (A shares) were publicly issued to the public at an issue price of 26.62 yuan per share, raising a total of 119799 million yuan. After deducting the underwriting fee of 83.853 million yuan (including 791066 million yuan excluding tax included in the issuance fee), the raised fund was 1114047 million yuan, It has been remitted by the lead underwriter Citic Securities Company Limited(600030) to the raised funds supervision account of the company on July 16, 2019. In addition, after deducting 177905 million yuan of additional external expenses directly related to the issuance of equity securities, such as recommendation fee, online issuance fee, prospectus printing fee, reporting accountant fee, lawyer fee and evaluation fee, the net amount of funds raised by the company this time is 1101029 million yuan. The availability of the above raised funds has been verified by Tianjian Certified Public Accountants (special general partnership), who issued the capital verification report (Tianjian Yan [2019] No. 222).
(II) deposit of the previously raised funds in the special account
As of December 31, 2021, the balance of the company's previously raised funds (including interest and accumulated income) was 692064 million yuan:
1. As of December 31, 2021, the deposit of the company's previously raised funds in the bank account is as follows: amount unit: RMB 10000
Initial deposit amount of deposit bank account No. remarks on balance on December 31, 2021
China China Construction Bank Corporation(601939) shares
Copy Co., Ltd. Yuyao 331501995236 Shenzhen Fountain Corporation(000005) 5127500.00 1.53 current deposit sub branch
Bank Of China Limited(601988) shares: 4052496888682600.291 Cnfc Overseas Fisheries Co.Ltd(000798) current deposit Co., Ltd. Yuyao branch
Bank Of Ningbo Co.Ltd(002142) yuyaozhong 6102012200065858426.65 current deposit Xinqu sub branch
Total 11036100
Note: in addition to the above funds, the cash management due income of RMB 1702400 deposited in Yuyao sub branch of China Merchants Bank Co.Ltd(600036) Ningbo Branch (Account No.: 574905856410601) was not transferred back to the raised funds account in time. The company has transferred the above funds back to the raised funds account on February 18, 2022. As of December 31, 2021, the total balance of raised funds was 102064 million yuan.
2. As of December 31, 2021, the company has purchased undue structured deposits and certificates of deposit with some idle raised funds as follows:
Unit: RMB 10000
Name of entrusted party product type of entrusted wealth management product value date due date amount
Bank Of China Limited(601988) Co., Ltd. large deposit certificate 400000 Principal Guaranteed Fixed Income 2021 / 9 / 3 three-year company Yuyao branch (transferable)
Bank Of China Limited(601988) Co., Ltd. structural deposit Shanghai Pudong Development Bank Co.Ltd(600000) Principal Guaranteed Fixed Income 2021 / 10 / 182022 / 1 / 18 Yuyao branch
Bank Of China Limited(601988) Co., Ltd. structural deposit 1000000 Principal Guaranteed Fixed Income 2021 / 11 / 252022 / 3 / 1 company Yuyao branch
Bank Of China Limited(601988) Co., Ltd. structural deposit 400000 Principal Guaranteed Fixed Income 2021 / 11 / 292022 / 3 / 1 company Yuyao branch
Bank Of China Limited(601988) Co., Ltd. structural deposit 1200000 Principal Guaranteed Fixed Income 2021 / 10 / 282022 / 5 / 10 Yuyao branch
Bank Of China Limited(601988) Co., Ltd. structural deposit 1000000 Principal Guaranteed Fixed Income 2021 / 10 / 292022 / 5 / 10 Yuyao branch
Bank Of China Limited(601988) Co., Ltd. structural deposit 1300000 Principal Guaranteed Fixed Income 2021 / 12 / 272022 / 2 / 11 Yuyao branch
Total 5900000
Note: the certificate of deposit is transferable during its existence, and the duration of the company's single holding of the negotiable certificate of deposit shall not exceed 12 months
2、 Use of previously raised funds
See Annex 1 of this report for details of the use of the previously raised funds.
3、 Changes in the previous raised funds (I) on the extension of raised investment projects
According to the proposal on the extension of Ningbo Ronbay New Energy Technology Co.Ltd(688005) some fund-raising investment projects deliberated and adopted at the 30th meeting of the first board of directors and the 16th meeting of the first board of supervisors on April 15, 2021, comprehensively considering the current implementation progress of the fund-raising investment project "2025 power lithium battery material comprehensive base (phase I)", The company decides to postpone the date when the raised investment project reaches the expected usable state. This postponement will not change the content, investment purpose, total investment and implementation subject of the raised investment project.
1. Delay of raised investment projects
In combination with the actual construction and investment progress of the company's investment project with raised funds, the time when the project reaches the expected usable state shall be adjusted without any change in the investment purpose and investment scale of the raised funds. 2025 power lithium battery material comprehensive base (phase I) with an annual output of 60000 tons of ternary cathode material precursor project is divided into two phases, including 30000 tons in phase 1-1 and 30000 tons in phase 1-2.
2. Reasons for the delay of raised investment projects
The 2025 power lithium battery material comprehensive base (phase I) project invested by the company is implemented in the self built site in Linshan Town, Yuyao, Zhejiang Province. The original planned construction period is 16 months and will reach the expected usable state before December 31, 2020. However, the actual construction progress is lower than expected for the following reasons:
(1) Since the second half of 2019, the subsidy for new energy vehicles has declined, the overall production and sales volume of the downstream electric vehicle market has temporarily decreased year-on-year, and the external environmental changes such as covid-19 epidemic since 2020 have affected the construction progress of the project to a certain extent.
(2) The company's core products are ncm811 series high nickel ternary cathode materials, with the largest shipment in China for many consecutive years. In order to give priority to meeting the needs of downstream customers of cathode materials, the company focused on solving the capacity bottleneck of cathode materials in Hubei, Guizhou and South Korea, so the construction progress of precursor capacity slowed down accordingly.
(3) During the implementation of the project plan, the company comprehensively improves the comprehensive competitiveness of the precursor business. In 2020, an independent precursor business department will be established to strengthen the ability of independent research and development, procurement, production and sales. Integrate the resources of China, Japan and South Korea, improve the product technical scheme, improve the automation level of equipment and production line, develop and complete a new generation of high nickel series precursors, and better adapt to the requirements of market changes and product technology updates. (4) Since the second half of 2020, there has been strong demand from downstream customers. The company has actively sent samples and obtained certification from many downstream customers. The precursor business unit achieved profit growth in the first quarter of 2021, with a good business situation. The company is accelerating the construction and implementation of the project, and plans to complete the construction of 30000 tons in phase 1-1 by March 31, 2022 and 30000 tons in phase 1-2 by December 31, 2022. The overall production capacity of 60000 tons of ternary precursor of the project will reach the expected usable state, and the time will be adjusted from December 31, 2020 to December 31, 2022.
4、 Contents and reasons for the difference between the actual total investment of the previous fund-raising project and the commitment
There is no difference between the actual total investment of the project raised by the company in the previous time and the commitment.
5、 Description of the external transfer or replacement of the investment project of the previously raised funds
The company does not transfer or replace the raised funds.
6、 Description of the benefits achieved by the investment projects with the previously raised funds (I) comparison table of the benefits achieved by the investment projects with the previously raised funds
See Annex 2 of this report for the benefits achieved by the investment projects with the funds raised last time.
(II) description of the situation that the benefits of the investment project of the previously raised funds cannot be calculated separately
The company's supplementary working capital projects do not directly and independently generate economic benefits.
(III) description of the situation that the cumulative realized income of the investment project invested by the previously raised funds is less than 20% (including 20%) of the commitment
As of December 31, 2021, the investment project of the company's previous raised funds is still in the construction period, has not reached the expected usable state, and has not realized the income.
7、 Description of the operation of the assets used to subscribe for shares in the previously raised funds
The company does not use the raised funds to subscribe for shares.
8、 Use of idle raised funds
In order to improve the use efficiency and income of raised funds, the company has used idle raised funds for cash management for many times, as follows:
(I) according to the resolution of the 15th meeting of the first board of directors of the company on July 30, 2019, it is agreed that the company will use part of the temporarily idle raised funds with an amount not exceeding RMB 80 million for cash management. Within the above amount, the funds can be used in a rolling manner within 12 months.
(II) according to the resolution of the 23rd Meeting of the first board of directors on July 30, 2020, it is agreed that the company will use the temporarily idle raised funds with a limit of no more than RMB 800 million for cash management. Within the above limit, the funds can be used on a rolling basis within 12 months from the date of deliberation and approval by the board of directors.
(III) according to the resolution of the fourth meeting of the second session of the board of directors on July 22, 2021, the company agreed to use part of the temporarily idle raised funds with a limit of no more than RMB 800 million for cash management. Within the above limit, the funds can be used on a rolling basis within 12 months from the date of deliberation and approval by the board of directors. As of December 31, 2021, the amount of certificates of deposit and structured deposits purchased but not yet due by the company was RMB 59 million.
9、 Balance of previous raised funds and use of surplus raised funds
As of December 31, 2021, the balance of unused raised funds of the company was 692064 million yuan (including the accumulated bank deposit interest and net proceeds from structured deposits minus bank handling charges)
