Guizhou Chanhen Chemical Corporation(002895)
Feasibility analysis report on the use of funds raised by non-public offering of a shares
In order to continuously improve core competitiveness and enhance profitability, Guizhou Chanhen Chemical Corporation(002895) (hereinafter referred to as "the company" or " Guizhou Chanhen Chemical Corporation(002895) ") plans to raise funds by non-public offering of a shares. The feasibility analysis of the company's board of directors on the use of funds raised by this non-public offering of shares is as follows:
1、 Use plan of raised funds in this offering
The total amount of funds raised in this issuance shall not exceed 3529289400 yuan (including this amount). The net amount after deducting the issuance expenses is proposed to be invested in the following projects:
Unit: 10000 yuan
No. project name total project investment proposed to be invested in raised funds
1. Food grade purified phosphoric acid production project of 12 Csg Holding Co.Ltd(000012) 95224912005089 tons / year by comprehensive utilization of medium and low-grade phosphate rock
2100000 t / a food grade purified phosphoric acid project 65920836094454
3. New 2.5 million T / a mining 105594727193351 project of jigongling Phosphate Mine
4. Supplementary working capital 20 China Vanke Co.Ltd(000002) 000000
5. Repayment of bank loan 8000000
Total 4010380435292894
Before the raised funds are in place, the company can invest with self raised funds according to the actual situation of the investment projects with raised funds, and replace them after the raised funds are in place. After the raised funds are in place, if the net amount of the actual raised funds after deducting the issuance expenses is less than the total amount of the proposed raised funds, the company will adjust and finally decide the priority of the raised funds and the specific investment amount of each project according to the actual amount of the available raised funds and the priorities of the projects, and the insufficient part shall be solved by the company with its own funds.
2、 Purified phosphoric acid raised investment project
(I) basic information of the project
Unit: 10000 yuan
Project name and place of implementation of the project the total amount of funds raised by the main body of the project investment to be invested in the construction period
Middle and low grade phosphate rock comprehensive Fuquan Economic Development Zone
Guizhou chuanhenghe utilizes 120000 Shuanglong Industrial Park Luowei 1295224912005089 15 month Chemical Co., Ltd. to produce phosphoric acid project of T / a food grade purification pond Group Co., Ltd
100000 t / a food grade Fuquan Guizhou Chanhen Chemical Corporation(002895) 65920836094454 12-month purified phosphoric acid project in the existing production plant
By building the "120000 T / a food grade purified phosphoric acid project for comprehensive utilization of low-grade phosphate rock" in luoweitang plant and the "100000 t / a food grade purified phosphoric acid project" (hereinafter referred to as "purified phosphoric acid project") in Fuquan's existing plant, the company will further expand the capacity of purified phosphoric acid, improve the comprehensive utilization efficiency of low-grade phosphate rock and enrich the product structure of phosphorus chemical industry, Improve the layout of the company in the new energy industry chain.
(II) necessity of the project
1. The purified phosphoric acid project will ensure the continuous and stable supply of raw materials for the company's subsequent iron phosphate production line. It is one of the important components of the company's "mineralization integrated new energy material recycling industry project".
Relying on the existing phosphate rock and phosphate chemical industry system, the company will take iron phosphate as the key product, explore the new energy industry chain and form a new profit growth point of the company. The company reached a strategic cooperation with GuoXuan Holding Group Co., Ltd. in September 2021 to jointly plan and build a battery iron phosphate production line with a production capacity of no less than 500000 tons / year. In September 2021, the company signed the investment project cooperation agreement with Fuquan Municipal People's government to build the "mineralization integrated new energy material recycling industry project", and build a full chain new energy material production line including phosphate rock beneficiation, pyrite acid production, wet process phosphoric acid, purified phosphoric acid, iron phosphate, etc.
"120000 T / a food grade purified phosphoric acid production project with comprehensive utilization of medium and low-grade phosphate rock" is one of the important components of the "mineralization integrated new energy material recycling industry project". The smooth implementation of the project will provide sufficient phosphorus source for the subsequent iron phosphate production line and ensure the smooth operation of the company's subsequent iron phosphate production line.
"100000 t / a food grade purified phosphoric acid project" is one of the supporting projects of the company's "100000 t / a battery iron phosphate project". The purified phosphoric acid produced will also give priority to ensuring the supply of raw materials for the company's iron phosphate production line.
The purified phosphoric acid project will provide sufficient raw material supply for the subsequent operation of the company's iron phosphate production line, effectively reduce the production cost of iron phosphate, and promote the company to extend to the field of new energy materials.
2. The purified phosphoric acid project will further enrich the product structure of the company's phosphorus chemical industry and improve the company's profitability.
On the basis of hemihydrate phosphoric acid (P2O5 content is about 40%), the purified phosphoric acid project will produce food grade purified phosphoric acid (P2O5 content up to 85%) through pretreatment links such as pre desulfurization and arsenic removal, concentration and defluorination, fine desulfurization, solvent extraction purification, deep purification, concentration and gas stripping defluorination and decolorization.
The main products of the company's existing phosphorus chemical industry are calcium dihydrogen phosphate and monoammonium phosphate, including a small amount of phosphoric acid, ammonium polyphosphate, water-soluble fertilizer, mixed fertilizer, etc. on the basis of meeting the demand of iron phosphate production line, some surplus production capacity of the project will be sold directly, so as to further enrich the product structure of the company's phosphorus chemical industry and improve the profitability of the company.
(III) feasibility of the project
1. The company signed the investment project cooperation agreement with Fuquan Municipal People's government. The project complies with the industrial policies of the local people's government and has good industrial policy support.
In September 2021, the company signed the investment project cooperation agreement with Fuquan Municipal People's government. Based on Fuquan's comprehensive advantages in phosphorus resources, location and policies, the company plans to invest in the construction of "mineralization in one" new energy material recycling industry project in Fuquan city. Fuquan Municipal People's government will provide policy support for the company and implement various preferential policies.
As one of the specific projects in the "mineralization integration" new energy material recycling industry project, the "120000 T / a food grade purified phosphoric acid production project with comprehensive utilization of medium and low-grade phosphate rock" is in line with the development orientation of Fuquan Economic Development Zone to form a newly industrialized industrial cluster, which can be strongly supported by the industrial policies of the local government and has a good policy foundation.
2. The company has two provincial enterprise technology centers. In recent years, it has successfully independently developed mature purified phosphoric acid production technology and has the conditions for industrialization.
The company has two provincial-level enterprise technology centers. Since the establishment of the Engineering Technology Research Institute in 2018, based on the original hemihydrate phosphoric acid technology and calcium salt production technology, the company has developed the production technology of fire-fighting monoammonium phosphate and fertilizer grade monoammonium phosphate, which has been industrialized, and has cooperated with Sichuan University, Sichuan Agricultural University, Guizhou University, Guizhou science and technology, Guizhou building materials research institute, Beijing University of science and technology Wuhan University of engineering has established a long-term and stable cooperative relationship with colleges and universities and scientific research institutes such as Wuhan University of technology. The food grade wet purification phosphoric acid technology with independent intellectual property rights developed in recent years has been mature and has the conditions for industrialization.
3. The downstream application market of purified phosphoric acid has a good prospect, and the company has the ability to digest the new capacity of the project.
The product of this project is mainly food grade purified phosphoric acid, which is widely used in meat and poultry products processing, seafood processing, baked products, dairy products and other food processing fields. It is usually used as a quality improver to improve the tissue structure and taste of food, and as a mineral nutrition enhancer. Food grade phosphoric acid and its salts are safe and non-toxic. They can improve food quality and supplement calcium, iron and zinc to human body. At the same time, phosphate (po43-) is the basic material for human cell wall synthesis.
Meanwhile, food grade purified phosphoric acid can also be used to produce lithium iron phosphate precursor iron phosphate. With the gradual production of the company's iron phosphate production line and the continuous growth of China's iron phosphate market demand, it is expected that the market demand for purified phosphoric acid will continue to grow in the future, and the company has the ability to digest the new purified phosphoric acid capacity.
(IV) project construction planning
1. Comprehensive utilization of medium and low grade phosphate rock to produce 120000 T / a food grade purified phosphoric acid project
(1) Estimation of project investment amount
The estimated total investment of the project is 1295224900 yuan, and the investment amount of the proposed raised funds is 1200508900 yuan. The specific investment of the project is as follows:
Unit: 10000 yuan
No. project investment amount proposed to use raised funds
Investment amount
1. Fixed assets expense 11982090
1.1 project cost 1102095911020959
1.1.1 construction cost 33435263343526
1.1.2 equipment engineering cost 5672349
1.1.3 installation cost 20050832005083
1.2 other expenses of fixed assets 961131961131
2. Other asset expenses 230.00 230.00
3. Basic reserve fund 661258-
4. Initial working capital 285902-
Total 1295224912005089
After calculation, the static investment payback period (including construction period) of the project after income tax is 4.97 years, and the financial internal rate of return of the project after income tax is 29.24%.
2. 100000 t / a food grade purified phosphoric acid project
(1) Estimation of project investment amount
The estimated total investment of the project is 659208300 yuan, and the investment amount of the proposed raised funds is 609445400 yuan. The specific investment of the project is as follows:
Unit: 10000 yuan
No. project investment amount proposed to use raised funds
Investment amount
1. Fixed assets expenses Rightway Holdings Co.Ltd(600321) 6
1.1 project cost 55108835510883
1.1.1 construction cost 1371586
1.1.2 equipment engineering cost 28557102855710
1.1.3 installation cost
