Securities code: Shanghai Smith Adhesive New Material Co.Ltd(603683) securities abbreviation: Shanghai Smith Adhesive New Material Co.Ltd(603683) Announcement No.: 2022020 Shanghai Smith Adhesive New Material Co.Ltd(603683)
Announcement on investment in the project of fine chemicals with an annual output of 30000 tons
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 note: name of investment object: fine chemicals project with an annual output of 30000 tons (hereinafter referred to as "the project")
Investment amount: the total investment of the project is 100 million yuan, including 10 million yuan for environmental protection, accounting for 10% of the total investment. Special risk tips:
1. The new project has a certain construction cycle, and there is a risk that the expected benefits cannot be achieved after the completion of the new project due to the impact of macroeconomic policies, changes in future market conditions, changes in industry environment, safety and environmental protection and other uncertain factors.
2. The capital source of the new project is self raised capital. The future investment expenditure may lead to the reduction of the company's cash flow or the increase of liabilities, which will increase the company's relevant financial risks. The company will strengthen fund management, speed up the project construction progress, strive to achieve the production and standard of new projects as soon as possible, and reduce financial risks.
1、 Overview of foreign investment
(I) basic information of foreign investment
In order to accelerate the implementation of the strategic layout of Shanghai Smith Adhesive New Material Co.Ltd(603683) (hereinafter referred to as "the company") and improve the production capacity in line with the market demand, it is planned to build a "30000 ton annual fine chemicals project" through the wholly-owned subsidiary Jiangsu Shanghai Smith Adhesive New Material Co.Ltd(603683) Materials Technology Co., Ltd. (hereinafter referred to as "Jiangsu Jinghua"), with a total investment of 100 million yuan, including 10 million yuan for environmental protection, accounting for 10% of the total investment. (II) review
On March 29, 2022, the 20th meeting of the third board of directors of the company deliberated and approved the proposal on investment in the project of fine chemicals with an annual output of 30000 tons, and requested the board of directors to authorize the chairman of the company to sign the investment agreement of the project within the scope specified in relevant laws and regulations and the articles of association. According to the articles of association and other relevant provisions, the deliberation is within the authority of the board of directors, It is not necessary to submit it to the general meeting of shareholders for deliberation. (III) according to the relevant provisions of the Listing Rules of Shanghai Stock Exchange, the company's investment is not a related party transaction or a major asset reorganization.
2、 Basic information of investors
Company name: Jiangsu Shanghai Smith Adhesive New Material Co.Ltd(603683) Material Technology Co., Ltd
Nature of enterprise: limited liability company (sole proprietorship of legal person)
Date of establishment: December 12, 2014
Registered capital: RMB 510125229
Address: No. 6, Donghai Road, Yangtze River International Chemical Industrial Park, Jiangsu
Legal representative: Zhou Xiaodong
Unified social credit Code: 9132059239270973
Business scope: production of adhesive tape and glue (hazardous chemicals are limited to those listed in the license); Production of other chemicals, all kinds of adhesive products and supporting materials, release paper, release film, graphite film and rubber products (excluding dangerous chemicals); Selling self-produced products; House leasing and property management; Import and export of goods or technologies (excluding those prohibited by the state or involving administrative examination and approval). (for projects subject to approval according to law, business activities can only be carried out after being approved by relevant departments) licensed projects: power generation business, power transmission business and power supply (distribution) business (for projects subject to approval according to law, business activities can only be carried out after being approved by relevant departments, and the specific business projects shall be subject to the approval results) general projects: Sales of paper products; Paper products manufacturing (except for projects subject to approval according to law, carry out business activities independently according to law with business license) is limited to branches: relationship between paper manufacturing and the company: wholly-owned subsidiary of the company
3、 Basic information of investment projects
Project Name: fine chemicals project with an annual output of 30000 tons
Implemented by: Jiangsu Shanghai Smith Adhesive New Material Co.Ltd(603683) Material Technology Co., Ltd
Total investment: the total investment of the project is 100 million yuan, including 10 million yuan for environmental protection, accounting for about 10% of the total investment;
Project construction scale and content: purchase of raw and auxiliary materials and equipment related to the project with an annual output of 30000 tons of fine chemicals (24000 tons of acrylic resin adhesive and 6000 tons of polyurethane adhesive), build one class a workshop, one class C warehouse and two class a warehouses, use the original RTO incineration treatment facilities to treat waste gas, and other public and auxiliary projects rely on the existing ones.
Construction address: the project is planned to be constructed in the existing plant area of Jiangsu Jinghua, No. 6, Donghai Road, Yangtze River International Chemical Industry Park, Zhangjiagang Free Trade Zone, Jiangsu Province, and no new land acquisition is required;
Project construction period: 24 months
Source of funds: self raised funds
According to the requirements of the national economic and social development plan, we will vigorously develop strategic emerging industries during the 14th Five Year Plan period. Grasp the industrial attributes and development laws, focus on the frontier fields such as integrated circuits, biomedicine and artificial intelligence, actively develop new generation information technology, new materials, energy conservation and environmental protection, new energy, new energy vehicles and other industries, strengthen technological breakthrough, pilot demonstration and scenario application, accelerate technological iteration and industrial upgrading, vigorously promote industrialization and scale, and strive to become a new engine leading economic development, The downstream application field of the 30000 ton fine chemicals project implemented by the company this time is the new material industry.
At present, the company has an annual production capacity of 50000 tons of adhesive. After the completion of the project, it can not only enrich the company's product structure, improve the company's overall technical level, meet the planning requirements of high starting point and high standard construction, but also realize the supporting of industrial chain and cultivate new profit growth points. The company's existing technology can support the operation and development of the project.
4、 Impact of foreign investment on Listed Companies
(I) the project is a new fine chemical material, which conforms to the industrial development direction of the country, Jiangsu Province, Suzhou and Zhangjiagang during the 14th Five Year Plan period. Therefore, the project meets the development planning requirements of the national economic and social development plan.
(II) after completion, it can not only enrich the company's product chain and meet the planning requirements of high starting point and high standard of enterprise construction, but also cultivate new profit growth points of the company, which is conducive to the sustainable development of the company, in line with the company's long-term development plan, but also in line with the interests of listed companies and shareholders.
(III) the implementation of the project is conducive to the supply of special electronic materials for power batteries to new energy companies, enriching the company's product line and better cooperation with power battery manufacturers.
5、 Risk analysis and Countermeasures of foreign investment
The investment project may have the following main risks:
(I) the new project has a certain construction cycle, and there is a risk that the expected benefits cannot be achieved after the completion of the new project due to the impact of macroeconomic policies, changes in future market conditions, changes in industry environment, safety and environmental protection and other uncertain factors.
(II) the capital source of the new project is self raised. The future investment expenditure may lead to the decrease of the company's cash flow or the increase of liabilities, which will increase the relevant financial risks of the company. The company will strengthen fund management, speed up the project construction progress, strive to achieve the production and standard of new projects as soon as possible and reduce financial risks.
For all subsequent matters of this investment project, the company will perform corresponding decision-making and approval procedures and perform corresponding information disclosure obligations in accordance with the requirements of relevant laws and regulations. Please pay attention to investment risks. It is hereby announced.
Shanghai Smith Adhesive New Material Co.Ltd(603683) board of directors March 31, 2022
