Securities code: Suzhou Maxwell Technologies Co.Ltd(300751) securities abbreviation: Suzhou Maxwell Technologies Co.Ltd(300751) Announcement No.: 2022034 Suzhou Maxwell Technologies Co.Ltd(300751)
Announcement on signing major contracts for daily operation
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Important:
1. The contract has been accepted for a long time and is expected to have a positive impact on the company’s operating performance in the coming years. The company will recognize the income in the corresponding accounting period according to the contract requirements and the revenue recognition principle (finally, the periodic report audited by the accountant of the company shall prevail);
2. There is a risk that the company cannot complete the delivery or acceptance on time, resulting in the company bearing the corresponding liability for breach of contract;
3. This Agreement shall come into force after being signed or sealed by both parties. During the performance of this Agreement and subsequent cooperation, there are major changes in the external macro environment, changes in relevant national policies, changes in customer demand and other force majeure factors that may affect the implementation of this contract;
4. According to relevant laws and regulations such as Shenzhen Stock Exchange GEM Listing Rules, Shenzhen Stock Exchange listed companies self regulatory guidance No. 2 – standardized operation of GEM listed companies and relevant provisions of the company and customer confidentiality system, the contract amount of this transaction is a trade secret, and the performance of disclosure obligations may lead to improper competition and damage the interests of the company and investors, The company has fulfilled the exemption process of internal confidential information disclosure and exempted the disclosure of the contract amount.
Please pay attention to investment risks.
1、 Contract signing overview
On April 15, 2022, Reliance Industries Limited (hereinafter referred to as “Reliance Industries”) issued letter of commitment (hereinafter referred to as “LOC”) to Maxwell technology PTE. Ltd. (hereinafter referred to as “Singapore Maiwei”), a wholly-owned subsidiary of Suzhou Maxwell Technologies Co.Ltd(300751) (hereinafter referred to as “the company”). According to the above LOC agreement, Reliance Industries plans to purchase 8 whole lines of Cecep Solar Energy Co.Ltd(000591) heterojunction battery production equipment from Singapore Maiwei, The production capacity is 600MW / piece, with a total of 4.8gw. The total purchase amount exceeds 50% of the audited operating revenue of the company in 2021, but does not reach 100%. The contract amount of this transaction is a trade secret. Performing the disclosure obligation may lead to improper competition and damage the interests of the company. The company has performed the internal confidential information disclosure exemption process to exempt the disclosure of the contract amount.
2、 Introduction to contract counterparties
(I) counterparty companies
Company name / corporate Reliance Industries Limited / Reliance Industries Limited
Name
Chairman / Chairman & MD Mukesh Dhirubhai Ambani / Mukesh Dhirubhai Ambani
Registered capital / registered RS 1500000000 / inrcapital 1500000000
It is engaged in refining, including manufacturing of refined petroleum products, and petrochemicals, including manufacturing of basic chemicals, fertilizers and nitrogen compounds, plastic and synthetic rubber in primary forms.
Registered address / third floor, 222 Nariman point, Mumbai 400021, India / maker chambers IV, 3rdoffice floor, 222 Nariman point, Mumbai, India
Relationship Reliance Industries has no relationship with the company
(II) similar transactions in the last three fiscal years
There was no such transaction between the company and Reliance Industries from 2019 to 2021.
(III) performance capability analysis
Reliance Industries is a listed company in India. According to the 2021 Fortune magazine, it ranks 155th among the world’s top 500. In fiscal year 2020, its operating revenue was US $62.912 billion and its profit was US $6.619 billion. It has good credit standing and has the ability to perform.
3、 Main contents of loc
1. Transaction subject
Buyer: Reliance Industries Limited
Seller: Maxwell technology PTE. Ltd
2. Subject matter of the contract
Cecep Solar Energy Co.Ltd(000591) heterojunction battery production equipment line
3. Transaction quantity and price
8 whole lines, 4.8gw in total. The contract amount of this transaction is a trade secret. Performing the disclosure obligation may lead to improper competition and damage the interests of the company. The company has performed the internal confidential information disclosure exemption process to exempt the disclosure of the contract amount.
4. Settlement method
Settlement shall be made according to the performance node, including advance payment, payment for goods and acceptance payment. The above payment shall be made by telegraphic transfer or letter of credit.
5. Effective conditions
LOC shall come into force after being signed or sealed by both parties.
6. Liability for breach of contract
If the company fails to deliver or accept the goods as agreed in the contract, the buyer may terminate the relevant purchase order. The company shall pay a certain proportion of liquidated damages according to the actual delay time, and the maximum liquidated damages shall not exceed 15% of the order value.
4、 The impact of contracts on Listed Companies
This order has been performed for a long time, which is expected to have a positive impact on the company’s operating performance in the coming years. The company will recognize the revenue in the corresponding accounting period according to the contract requirements and the revenue recognition principle (finally, the periodic report audited by the accountant of the company shall prevail).
The performance of the above contracts has no significant impact on the business independence of the company, and the main business of the company will not rely on the parties to the contract due to the performance of the contract.
5、 Risk tips
1. The contract has been accepted for a long time and is expected to have a positive impact on the company’s operating performance in the coming years. The company will recognize the income in the corresponding accounting period according to the contract requirements and the revenue recognition principle (finally, the periodic report audited by the accountant of the company shall prevail);
2. There is a risk that the company cannot complete the delivery or acceptance on time, resulting in the company bearing the corresponding liability for breach of contract;
3. This Agreement shall come into force after being signed or sealed by both parties. During the performance of this Agreement and subsequent cooperation, there are major changes in the external macro environment, changes in relevant national policies, changes in customer demand and other force majeure factors that may affect the implementation of this contract;
4. According to relevant laws and regulations such as Shenzhen Stock Exchange GEM Listing Rules, Shenzhen Stock Exchange listed companies self regulatory guidance No. 2 – standardized operation of GEM listed companies and relevant provisions of the company and customer confidentiality system, the contract amount of this transaction is a trade secret, and the performance of disclosure obligations may lead to improper competition and damage the interests of the company and investors, The company has fulfilled the exemption process of internal confidential information disclosure and exempted the disclosure of the contract amount.
Please pay attention to investment risks.
6、 Contract review procedure
The above-mentioned contracts are major contracts for the daily operation of the company. According to the relevant provisions of the Shenzhen Stock Exchange GEM Listing Rules, Shenzhen Stock Exchange listed companies self regulatory guidance No. 2 – standardized operation of GEM listed companies, the articles of association and so on, there is no need for the deliberation of the board of directors and the general meeting of shareholders of the company, and there is no need for independent directors to express independent opinions.
7、 Other relevant instructions
The company will disclose the performance of major contracts in a timely manner in strict accordance with the relevant provisions of the Shenzhen Stock Exchange GEM Listing Rules, Shenzhen Stock Exchange listed companies self regulatory guidelines No. 2 – standardized operation of GEM listed companies and so on.
8、 Documents for future reference
1. LOC agreement signed by both parties.
It is hereby announced.
Suzhou Maxwell Technologies Co.Ltd(300751) board of directors April 18, 2022
