Guotai Junan Securities Co.Ltd(601211)
Verification opinions on the inquiry letter of Zhejiang Yonggui Electric Equipment Co.Ltd(300351) 2021 annual report Shenzhen Stock Exchange:
According to the requirements of your inquiry letter on the annual report of Zhejiang Yonggui Electric Equipment Co.Ltd(300351) 2021 (GEM annual report inquiry letter [2022] No. 41), Guotai Junan Securities Co.Ltd(601211) (hereinafter referred to as " Guotai Junan Securities Co.Ltd(601211) " or "independent financial consultant") as the independent financial consultant of Zhejiang Yonggui Electric Equipment Co.Ltd(300351) (hereinafter referred to as " Zhejiang Yonggui Electric Equipment Co.Ltd(300351) " or "company") issuing shares to purchase assets and raising supporting funds, conducted special verification on the relevant matters in the inquiry letter. The relevant matters are reported as follows:
Question 1: in March 2021, the company extended the time for the raised investment project "photoelectric connector construction project" to reach the expected usable state from December 31, 2020 to December 31, 2022. In this period, only RMB 157868 million was invested, and the investment progress by the end of the period was 39.49%. Please explain the specific conditions of the assets formed by the invested funds of the project, whether the capital investment and project construction progress comply with the scheduled plan, the arrangement and purpose of the invested funds in 2022, and whether there is a risk that the project can not be completed on schedule. The recommendation institution is requested to check and express clear opinions.
reply:
1、 Please explain the specific conditions of the assets formed by the invested funds of the project, whether the capital investment and project construction progress comply with the scheduled plan, the arrangement and purpose of the invested funds in 2022, and whether there is a risk that the project can not be completed on schedule
The total investment of the "photoelectric connector construction project" is 17 million yuan, which is implemented by the wholly-owned subsidiary Sichuan Yonggui Technology Co., Ltd. (hereinafter referred to as "Yonggui technology"). The project plans to purchase industrial land, build new production plants and supporting facilities in jinjialin headquarters economic test zone of Mianyang City, and purchase advanced production equipment and testing equipment according to market demand, process characteristics of project product production and product performance requirements, Reasonably allocate human and material resources to realize the large-scale production of photoelectric connectors.
Influenced by the demand changes of the communication industry and the technological development of the industry in previous years, the company's product development path has been planned and improved; Due to the phased requirements of the industry development of new energy vehicles, the company has upgraded the customer structure and focused on the head car enterprises. The expansion of high-quality customers has achieved remarkable results. It takes a certain period to achieve large-scale mass production. The project cannot be completed as planned, so the company decided to delay the capacity expansion. Under the new development environment, in order to improve the use efficiency of raised funds and better protect the interests of the company and investors, the company adjusted the date when the photoelectric connector construction project reaches the expected usable state to December 31, 2022 under the condition that the project implementation subject, total investment and construction scale remain unchanged, which was deliberated and adopted at the fifth meeting of the Fourth Board of directors held on March 25, 2021.
As of December 31, 2021, the "photoelectric connector construction project" has invested 678122 million yuan, accounting for 39.89%. It has invested 25.45 million yuan in construction projects, 330666 million yuan in equipment and installation projects, and 6.186 million yuan in other costs of project construction.
In recent years, the company has grasped the industry opportunities to achieve rapid growth in revenue and simultaneous release of capacity demand. According to the investment plan in 2022, the company will invest about 100 million yuan in the year. By the end of the year, the "photoelectric connector construction project" can reach the expected usable state.
2、 Verification procedures and opinions of independent financial adviser
The independent financial adviser has performed the following verification procedures:
1. Check the feasibility study report and budget report of the raised investment project;
2. Consult the meeting materials of the board of directors and the general meeting of shareholders related to the raised investment project;
3. Understand the approval progress and procedures of relevant departments, and consult relevant approval documents; 4. Check the use of raised funds, and check relevant contracts and payment vouchers;
5. Interview the company's management and relevant personnel to understand the implementation of the raised investment project and the subsequent expected schedule. After verification, the independent financial adviser believes that:
1. Under the new development environment, in order to improve the use efficiency of raised funds and better protect the interests of the company and investors, the company adjusted the date when the photoelectric connector construction project reaches the expected usable state to December 31, 2022 and performed the corresponding approval procedures under the condition that the project implementation subject, total investment and construction scale remain unchanged.
2. As of December 31, 2021, the "photoelectric connector construction project" has invested a total of 678122 million yuan, accounting for 39.89%. The capital investment and project construction progress meet the scheduled plan.
3. According to the investment plan in 2022, the company will invest about 100 million yuan in the year. By the end of the year, the "photoelectric connector construction project" can reach the expected usable state.
(there is no text on this page, which is the signature and seal page of Guotai Junan Securities Co.Ltd(601211) on the verification opinions on the inquiry letter of Zhejiang Yonggui Electric Equipment Co.Ltd(300351) 2021 annual report)
Financial advisor sponsor:
He nantao, Zhao Chongan
Guotai Junan Securities Co.Ltd(601211) mm / DD / yyyy
