On the evening of April 1, Roshow Technoiogy Co.Ltd(002617) ( Roshow Technoiogy Co.Ltd(002617) ) disclosed the second feedback on the additional issue. Company e noted that the construction of the company's silicon carbide project ("new silicon carbide substrate industrialization project" and "silicon carbide R & D center project") which attracted the attention of investors was mentioned in this reply announcement, that is, the two raised investment projects are advancing in an orderly manner, and the construction of the project and the investment progress of raised funds meet the expectations.
As far back as April 2020, according to the initial Roshow Technoiogy Co.Ltd(002617) fixed increase plan, the company plans to raise no more than 1 billion yuan in total. The raised funds will be used for "new silicon carbide substrate industrialization project", "silicon carbide R & D center project" and "repayment of bank loans". The raised funds will be 650 million yuan, 50 million yuan and 300 million yuan respectively. The above fixed increase was completed in March 2021, and the final actual raised capital was 643 million yuan.
According to the reply announcement, as of December 31, 2021, Roshow Technoiogy Co.Ltd(002617) 2020 raised investment projects of non-public offering of shares have been implemented, the repayment of bank loans has been completed, the other two raised investment projects are advancing in an orderly manner, and the progress of project construction and investment of raised funds is in line with expectations.
The main body of the new silicon carbide substrate industrialization project disclosed above is Zhejiang Luxiao carbon silicon crystal Co., Ltd. (hereinafter referred to as "Luxiao carbon silicon crystal"), which plans to invest 695 million yuan to produce 4-inch 4H SiC semi insulating silicon carbide substrate and 6-inch 4H SiC conductive substrate. After the completion of the project, Luxiao silicon carbide crystal will form an annual production capacity of 88000 silicon carbide substrates.
Roshow Technoiogy Co.Ltd(002617) said that before and after the raised funds were in place, the company had used its own funds to successively purchase the land and workshops required for the implementation of the project, and used some of the raised funds to purchase some machinery and equipment required for the raised investment project. Up to now, the progress of the project basically meets the planning expectations, and the project is being promoted.
Meanwhile, Zhejiang Luxiao silicon carbide crystal Co., Ltd. is also the implementation subject of the above "silicon carbide R & D center project". The project plans to invest 50.1 million yuan to purchase and transform the R & D site and purchase R & D equipment and software suitable for the company's business development.
Roshow Technoiogy Co.Ltd(002617) said that before and after the funds raised for the silicon carbide R & D center project were in place, the company had successively purchased the land and plants required for the implementation of the project and some R & D equipment. Up to now, the progress of the project basically meets the planning expectations, and the project is being promoted.
It is worth noting that Roshow Technoiogy Co.Ltd(002617) also launched another private placement in November 2021, which plans to raise 2.567 billion yuan. The raised funds will be used for "the third generation power semiconductor (silicon carbide) Industrial Park project", "large-size silicon carbide substrate R & D center project" and "supplementary working capital project", using 1.94 billion yuan, 500 million yuan and 127 million yuan respectively.
For the difference between the two projects invested with raised funds, is there any duplication of construction Roshow Technoiogy Co.Ltd(002617) in listing the differences between the two additional issuance projects, it is said that the raised investment project in 2021 is the extension and expansion of the previous raised investment project.
For example, on the basis of the funds raised in the non-public offering in 2020 for the construction of 6-inch conductive silicon carbide substrate and 4-inch semi insulating silicon carbide substrate projects, the company plans to raise funds again through the non-public offering of shares to expand the production capacity of 6-inch conductive silicon carbide substrate. The raised investment project in 2021 is an expansion and supplement to the previous raised investment project.
Roshow Technoiogy Co.Ltd(002617) said that at present, the silicon carbide substrate market as a whole is in short supply. With the rapid increase of the market scale of the new energy vehicle industry and photovoltaic power generation industry, the market demand for conductive silicon carbide substrate will also continue to grow. The new capacity after the company's fund-raising and investment projects are fully completed in 2021 will account for a small proportion of the market scale at that time, which will not lead to overcapacity in the market. As the company signs cooperation agreements with downstream customers, obtains orders, and successively carries out sample delivery and verification, the company's product sales scale is expected to continue to increase, and the sales demand is expected to cover the scale of new production capacity to a large extent.
