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About Guangdong Lyric Robot Automation Co.Ltd(688499)
Application documents for issuing convertible corporate bonds to unspecified objects
Reply to the audit inquiry letter
Shanghai Stock Exchange:
According to the requirements of the inquiry letter on the examination of Guangdong Lyric Robot Automation Co.Ltd(688499) the application documents for issuing convertible corporate bonds to unspecified objects (szkss (refinancing) [2022] No. 61) (hereinafter referred to as the "inquiry letter") issued by your exchange on March 30, 2022, Ernst & Young Huaming Certified Public Accountants (special general partnership) (hereinafter referred to as "Ernst & Young Huaming" or "reporting accountant") as the reporting accountant of Guangdong Lyric Robot Automation Co.Ltd(688499) (hereinafter referred to as " Guangdong Lyric Robot Automation Co.Ltd(688499) " or "company" or "issuer"), replied to the relevant questions of the reporting accountant in the audit inquiry letter one by one as follows:
Topic 2 About the previously raised funds
According to the application materials, 1) the issuer was first listed in July 2021. The IPO raised investment projects include industrial Siasun Robot&Automation Co.Ltd(300024) intelligent equipment production project and industrial Siasun Robot&Automation Co.Ltd(300024) intelligent equipment R & D Center Project (hereinafter referred to as intelligent equipment production project and R & D center project), and the amount of raised capital to be invested is 795131100 yuan. 2) Since the actual amount of raised funds is less than the amount of raised funds to be invested, the amount of raised funds to be invested in the intelligent equipment production project is reduced from 566839800 yuan to 530267900 yuan, but the specific reduction items and basis are not specified. 3) The net amount of funds raised by the issuer's initial public offering was 758559200 yuan, and the use progress was 18.17% as of September 30, 2021.
The issuer is requested to explain: (1) the specific content, reason and basis for the reduction of the amount of intelligent equipment production project, and whether it will affect the project capacity; (2) The specific reasons for the low proportion of funds used in the previous raised investment projects, the proportion and specific amount used so far, the subsequent use plan and expected progress of funds, the progress of project construction and subsequent construction.
The reporting accountant shall check the above matters and give clear opinions, and issue a special report on the latest use progress of the previously raised funds.
[description of issuer]
1、 The specific content, reason and basis of the reduction amount of intelligent equipment production project, and whether it has an impact on the project capacity
The amount of raised funds to be invested in the "industrial Siasun Robot&Automation Co.Ltd(300024) intelligent equipment production project" decreased by 365719 million yuan, mainly because the net amount of raised funds actually raised by the company was 758559200 yuan, which was less than the amount of raised funds to be invested by 795131100 yuan. The insufficient part of the raised funds shall be raised by the company itself, and the total investment of "industrial Siasun Robot&Automation Co.Ltd(300024) intelligent equipment production project" has not been reduced.
"Industrial Siasun Robot&Automation Co.Ltd(300024) intelligent equipment production project" does not reduce the total investment due to engineering change adjustment, which will not affect the production capacity of the project.
2、 The specific reasons for the low proportion of funds used in the previous raised investment projects, the proportion and specific amount used so far, the subsequent use plan and expected progress of funds, the progress of project construction and subsequent construction
(I) specific reasons for the low proportion of funds used in the previous raised investment projects
The use proportion of the previous raised investment fund is low. First, the start-up period of the construction project of the raised investment project is short and the settlement cycle of the construction project is long; Second, the company uses bills to pay the supplier's funds, which has not been replaced. The details are as follows:
1. The start-up period of the construction project of the previous raised investment project is still short, the project settlement process is complex and the cycle is long
The construction scale of the previous raised investment project is large, and more funds need to be invested. Before the previous raised funds are in place, the funds that the company can invest in advance are relatively limited. At the end of June 2021, the company started the construction of "industrial Siasun Robot&Automation Co.Ltd(300024) intelligent equipment production project" and "industrial Siasun Robot&Automation Co.Ltd(300024) intelligent equipment R & D center project" after the funds raised last time were in place. The company and the construction party agree to pay the project payment according to the project progress node. After reaching the project settlement node, the third-party project cost consulting company shall issue the review calculation of project progress payment. The company can pay the project payment after receiving the above materials and corresponding invoices.
By the end of 2021, the construction party had completed the main construction of the basement project and initiated the application for progress payment for the first phase of the project. The cost was 906498 million yuan after being reviewed by the third-party cost consulting company. Due to the long settlement process, the first phase of project progress payment has not been completed at the end of the reporting period, resulting in a low proportion of funds paid for the previous raised investment project.
2. The company uses bills to pay the supplier's funds, but has not been replaced
In order to speed up the turnover of the company's bills, reasonably improve the payment method of raised investment projects, reduce the company's financial cost and improve the use efficiency of raised funds. The company held the first meeting of the second board of directors and the first meeting of the second board of supervisors on August 11, 2021, deliberated and adopted the proposal on using bank acceptance bills to pay the funds required for raised investment projects and replace them with the raised funds in equal amount, and agreed that during the implementation of raised investment projects, the company should use bank acceptance bills to pay the funds of raised investment projects according to the actual situation and replace them with the raised funds in equal amount. For the self issued bank acceptance bill, it shall be transferred from the raised fund account to the general account of the company in equal amount after the bank acceptance bill expires; For the bank acceptance bill transferred by endorsement, the same amount shall be transferred from the raised fund account to the general account of the company after endorsement and transfer.
As of December 31, 2021, the company has used bank acceptance bills to pay 272353 million yuan for engineering materials, design fees and supervision fees, and there has been no replacement.
(II) utilization proportion and specific amount up to now, subsequent use plan and expected progress of funds, project construction progress and subsequent construction
1. Use proportion and specific amount of pre raised funds
As of December 31, 2021, the proportion and specific amount of raised funds used in each raised investment project of the company are as follows:
Unit: 10000 yuan
After the raising, the investment fund has not been paid, the bill endorsement has accumulated, the actual accumulated actual project promise investment fund has invested, the amount has not been replaced, the investment completed (a) (b) (c) amount (d) (E = proportion B + C + D) (f = E / a)
Industrial Siasun Robot&Automation Co.Ltd(300024) intelligence
Capable equipment production item 53026791259239075781672071200708 22.64% industrial Siasun Robot&Automation Co.Ltd(300024) intelligence
Energy equipment R & D 1282913252013 - 105147357160 27.84% core project
Supplementary working capital 1000000 -- 1000000 100.00%
Total 758559213779369075782723532557868 33.72%
As of December 31, 2021, the invested amount of the company's raised funds was 1377936 million yuan, the unpaid amount of the project was 907578 million yuan, the amount paid by bank acceptance bills but not replaced was 272354 million yuan, the cumulative actual investment completion amount of the project was 2557867 million yuan, and the cumulative actual investment completion ratio was 33.72%.
2. Expected progress of raised funds and subsequent use plan
The company's previous investment projects are still in the process of implementation, and the follow-up use plan and expected progress of the previously raised funds are as follows:
Unit: 10000 yuan
After the raising, the commitment will be accumulated by the end of 2021, expected by the end of 2022, expected by the end of 2023, the use of the project promise investment funds, accumulated use of funds, accumulated use of funds, amount of investment, amount of investment, proportion of investment
Industrial Siasun Robot&Automation Co.Ltd(300024) intelligent 5302679125923 2.37% 2766999 52.18% 5302679 100.00% equipment production project Industrial Siasun Robot&Automation Co.Ltd(300024) intelligent
Equipment R & D center item 1282913252013 19.64% 971653 75.74% 1282913 100.00% item
Supplementary working capital 10 Ping An Bank Co.Ltd(000001) 000000 100.00% 1000000 100.00% 1000000 100.00%
Total 75855921377936 18.17% 4738652 62.47% 7585592 100.00%
Note 1. The above "expected use of funds by the end of 2022" and "expected use of funds by the end of 2023" are based on the estimated results of the current construction progress of the project and do not constitute relevant commitments. The actual use of funds will depend on the actual construction progress of the project.
Note 2: by the end of 2021, the accumulated investment amount of the previous raised funds has been verified by Ernst & Young Huaming Certified Public Accountants (special general partnership).
The project invested by raising funds in the previous time is progressing smoothly and is expected to be put into use in 2023. The funds raised in the previous time are expected to be used up in 2023.
3. Construction progress and subsequent construction of the previous raised investment project
As of the issuing date of this reply, "industrial Siasun Robot&Automation Co.Ltd(300024) intelligent equipment production project" and "industrial Siasun Robot&Automation Co.Ltd(300024) intelligent equipment R & D center project" are under normal construction and are expected to be put into use in 2023. The details are as follows:
Construction progress and subsequent arrangements in the project stage
Pile foundation construction, foundation pit support construction, ground
The main construction of the lower room of the industrial machinery plant has been completed; In the third quarter of 2022, the main construction progress of plant and human intelligent decoration ground will be completed: the main construction of plant and dormitory building will be completed;
40% of spare production items; 50% of the dormitory building has been completed; In the fourth quarter of 2022, the procurement, installation / repair project of installed equipment and the purchased equipment will be put into installation
Other works/
30% of the R & D building of industrial machinery R & D laboratory has been completed, and the construction of human intelligent equipment in the R & D building has been completed in the third quarter of 2022. In the fourth quarter of 2022, the equipment in R & D / R & D laboratory decoration and purchased core project equipment have been put into installation
Note: the subsequent construction is based on the project construction
