Securities code: Beijing Bayi Space Lcd Technology Co.Ltd(688181) securities abbreviation: Beijing Bayi Space Lcd Technology Co.Ltd(688181) Announcement No.: 2022019 Beijing Bayi Space Lcd Technology Co.Ltd(688181)
Announcement on the extension of some raised investment projects
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal responsibility for the authenticity, accuracy and integrity of its contents according to law.
Beijing Bayi Space Lcd Technology Co.Ltd(688181) (hereinafter referred to as "the company") held the 14th meeting of the 4th board of directors and the 12th meeting of the 4th board of supervisors respectively on April 19, 2022, reviewed the proposal on the extension of some raised investment projects, and agreed to extend the time when the "phase II project with an annual output of 100 tons of liquid crystal materials for display" reached the expected usable state. The independent directors of the company have expressed their independent opinions on this matter, and the sponsor Capital Securities Co., Ltd. has issued clear verification opinions on this matter. This matter does not need to be submitted to the general meeting of shareholders of the company for deliberation. The relevant information is hereby announced as follows:
1、 Basic information of raised funds
With the approval of the China Securities Regulatory Commission on Approving the registration of Beijing Bayi Space Lcd Technology Co.Ltd(688181) initial public offering of shares (zjxk [2019] No. 2696), and with the consent of Shanghai Stock Exchange, the company publicly issued 24118254 ordinary shares in RMB in December 2019, with a par value of 1.00 yuan per share, an issue price of 43.98 yuan per share and a total raised capital of 106072081092 yuan, The net amount of raised funds after deducting the issuance expenses is 97791107348 yuan. The availability of the above raised funds has been verified by Grant Thornton Certified Public Accountants (special general partnership) and a capital verification report (Grant Thornton Yan Zi (2019) No. 110zc0292) has been issued. The company has stored the raised funds in a special account and signed the tripartite supervision agreement on the storage of raised funds in a special account with the sponsor and the commercial bank storing the raised funds. For details, see the company's disclosure on the website of Shanghai Stock Exchange (www.sse. Com. CN.) on January 3, 2020 Announcement on the listing of Beijing Bayi Space Lcd Technology Co.Ltd(688181) initial public offering of shares on the science and innovation board.
2、 Investment projects with raised funds
As of December 31, 2021, the company's raised investment projects and the use of raised funds are detailed in 2022
Disclosed on the website of Shanghai Stock Exchange on April 21, 2014 (www.sse. Com. CN.) Special report on the deposit and use of raised funds in 2021 (Announcement No.: 2022017).
3、 Details of the extension of this raised investment project
(I) postponement of this raised investment project
Combined with the actual construction and investment progress of the company's raised investment project "phase II project with an annual output of 100 tons of liquid crystal materials for display", the company plans to adjust the time when the raised investment project reaches the expected usable state without changing the investment purpose and investment scale of the raised funds. The details are as follows:
S / n item name date of reaching the scheduled availability status after the original plan reaches the scheduled availability date
1. Annual output of 100 tons of liquid crystal materials for display in June 2021 and 2023
second-phase project
(II) reasons for the delay of this raised investment project
According to the prospectus of Beijing Bayi Space Lcd Technology Co.Ltd(688181) initial public offering and listing on the science and innovation board, the construction part of the company's fund-raising project "phase II project with an annual output of 100 tons of liquid crystal materials for display" includes R & D and test center, testing center and shift dormitory. In addition, production equipment such as synthesis, purification and mixing need to be added according to the project construction scheme to make the production capacity of mixed liquid crystal finally reach 100 tons / year.
As of December 31, 2021, the company has completed and reached the production capacity of mixed liquid crystal of 100 tons / year; The testing center has been successfully capped; The shift dormitory and R & D Test Center completed the pile foundation construction. The raised investment project still needs to complete the main structure works of shift dormitory and R & D and test center, the overall equipment installation and commissioning, decoration works and the construction of internal roads and pipe network works in the plant.
The main reasons for the delay of this raised investment project are as follows:
First, the repeated covid-19 epidemic has delayed the implementation of the project. Covid-19 epidemic situation is repeated, and the project construction work is intermittent. During the construction period, the main labor personnel, materials and goods are transported from medium and high risk places, and the movement of different places is limited.
Second, the overall construction progress is delayed compared with the original plan due to the influence of factors such as the holding of Beijing Winter Olympic Games and winter Paralympic Games in the project area.
Based on the principle of prudence, combined with the actual progress and capital use of the current "phase II project of 100 tons of display liquid crystal materials per year", the company decided to adjust the date when the raised investment project reaches the expected usable state to June 2023 without changing the implementation subject, total investment and capital use of the raised investment project.
4、 The necessity and feasibility of continuing the implementation of some investment projects with raised funds
According to the relevant provisions of the guidelines for self discipline supervision of listed companies on the science and Innovation Board of Shanghai Stock Exchange No. 1 - standardized operation: if the completion period of the raised capital investment plan is exceeded and the amount of the raised capital investment does not reach 50% of the relevant planned amount, the science and innovation company shall re demonstrate the feasibility and expected income of the raised investment project and decide whether to continue to implement the project.
The Company re demonstrated the necessity and feasibility of the project of "phase II project of LCD materials with an annual output of 100 tons". The extension of the project has not changed the content, total investment and implementation subject of the project construction. It is still necessary and feasible to continue the implementation of the project.
1. Necessity of project construction
(1) Enhance the company's production capacity and improve the construction of relevant supporting facilities
With the continuous expansion of market demand and the gradual saturation of the company's production capacity, it is necessary to improve the production capacity of the company's liquid crystal materials. The company has completed and reached the production capacity of 100 tons / year of mixed liquid crystal in 2020, and implemented the "new project with an annual output of 100 tons of liquid crystal materials for display" with its own funds. It was successfully completed, accepted and put into operation in 2021. At present, the capacity of mixed liquid crystal reaches 200 tons / year. The substantial increase of production capacity requires further improvement of relevant supporting facilities. The testing center supporting the company's fund-raising project has been successfully capped, and the pile foundation construction of shift dormitory and R & D Test Center has been completed. In addition, the raised investment project still needs to complete the construction of the main structure works of the shift dormitory and the R & D and test center, the installation and commissioning of the overall equipment, the decoration works and the internal roads and pipe network works of the plant.
(2) Improve the software and hardware level of the company's R & D platform
In order to strengthen the R & D of liquid crystal materials, OLED materials and other electronic materials, the company's R & D investment continues to increase, and the R & D personnel continue to increase. The demand for R & D sites and equipment is urgent. The construction of raised investment projects can greatly improve the software and hardware level of the company's R & D platform and provide strong support for the company's development in the field of new projects.
2. Feasibility of project construction
(1) The project construction conforms to the direction of national industrial policy
The liquid crystal material industry is an important guarantee and support for the country to realize the structural transformation, industrial upgrading and technological progress of the flat panel industry. It is also an important measurement standard and strength embodiment of the information development level. The improvement of the production level of mixed liquid crystal materials is the core and foundation to improve China's display technology industry. Therefore, the state has issued a series of major policies to support the development of the industry, which provides a policy basis for the development of China's display technology industry from the aspects of national development strategy, industrial cultivation and development incentive policy, scientific and technological talent training, innovation system construction and so on, and creates a good policy environment for the development of information industry.
(2) The project construction is conducive to the company to seize market opportunities and enhance market influence
With the trend of global panel capacity transfer to mainland China, China has entered the peak stage of many high generation lines. 20192021 and the demand for mixed crystal in Chinese mainland is increasing in the next few years. The existing capacity scale and R & D platform of the company need to be improved.
(3) It is conducive to further improve the company's R & D and innovation ability
The company adopts the R & D strategy of combining technology and market, and implements the R & D mode focusing on independent R & D. while continuously optimizing the production process of existing high-performance mixed crystal products, the company increases the R & D of non display liquid crystal materials, other display materials and other electronic materials, so as to provide a strong driving force for the company to continuously launch new products. 5、 Re argumentation conclusion of investment projects with raised funds
The company believes that the above raised investment projects comply with the company's strategic planning and still have the necessity and feasibility of investment. The company will continue to implement the above projects. At the same time, the company will pay close attention to relevant environmental changes and make timely arrangements for the investment of raised funds.
6、 The impact on the company caused by the postponement of this raised investment project
The postponement of some raised investment projects is a prudent decision made by the company according to the implementation of the raised investment projects and the external environment. It does not involve the change of the implementation subject, implementation mode, investment purpose and investment scale of the raised funds. It only adjusts the date when the "phase II project of liquid crystal materials for display with an annual output of 100 tons" of the raised investment project reaches the expected usable state, which will not have a significant adverse impact on the current production and operation of the company, There is no change or disguised change in the investment direction of the raised funds or other circumstances that damage the interests of shareholders, which is in line with the overall development plan of the company and the long-term interests of shareholders. The company will strengthen the supervision of the progress of the raised investment project, so that the project can be constructed as planned, so as to improve the use efficiency of the raised funds. As there may still be various unforeseen factors in the subsequent specific construction process of the project, please pay attention to the investment risks.
7、 Description of special opinions
(I) opinions of independent directors
All independent directors of the company believe that the postponement of some raised investment projects is a prudent decision made by the company according to the actual situation of project implementation and will not affect the normal operation of the company. The decision-making and approval procedures comply with the provisions of relevant laws and regulations such as the guidelines for the supervision of listed companies No. 2 - regulatory requirements for the management and use of raised funds by listed companies, the guidelines for the self discipline supervision of companies listed on the science and Innovation Board of Shanghai Stock Exchange No. 1 - standardized operation, and the company's raised funds management system. There is no situation of changing the investment direction of raised funds in a disguised manner and damaging the interests of shareholders, especially small and medium-sized shareholders. Agree to the extension of some raised investment projects.
(II) opinions of the board of supervisors
The board of supervisors believes that there is no situation of changing the investment direction of raised funds and damaging the interests of shareholders, especially small and medium-sized shareholders, The decision-making and approval procedures comply with the provisions of relevant laws and regulations such as the guidelines for the supervision of listed companies No. 2 - regulatory requirements for the management and use of raised funds by listed companies, the guidelines for the self-discipline supervision of listed companies on the science and Innovation Board of Shanghai Stock Exchange No. 1 - standardized operation, and the company's raised funds management system. Therefore, we agree to the extension of some raised investment projects.
(III) opinions of the recommendation institution
After verification, the recommendation institution believes that:
1. The postponement of the raised investment project only involves the change of the date when the raised investment project reaches the expected usable state, the change of the investment direction of the raised funds and other situations damaging the interests of shareholders;
2. The postponement of this raised investment project is the decision made by the company based on the actual situation of the raised investment project. The company has demonstrated the feasibility and necessity of the continued implementation of the raised investment project involved in the postponement. The project postponement is in line with the actual operation situation of the company and is reasonable;
3. The postponement of this raised investment project has been deliberated and approved at the 14th meeting of the 4th board of directors and the 12th meeting of the 4th board of supervisors of the company. The independent directors have expressed their independent opinions with explicit consent. The relevant deliberation procedures comply with the guidelines for the supervision of listed companies No. 2 - regulatory requirements for the management and use of raised funds of listed companies The provisions of laws, regulations and normative documents such as the Listing Rules of Shanghai Stock Exchange on the science and innovation board and the self regulatory guidelines for listed companies on the science and Innovation Board of Shanghai Stock Exchange No. 1 - standardized operation, as well as the company's management system for raised funds.
In conclusion, the recommendation institution has no objection to the extension of Beijing Bayi Space Lcd Technology Co.Ltd(688181) some raised investment projects.
8、 Online announcement attachment
1. Independent opinions of independent directors on matters related to the 14th meeting of the Fourth Board of directors;
2. Verification opinions of Capital Securities Co., Ltd. on the extension of Beijing Bayi Space Lcd Technology Co.Ltd(688181) some raised investment projects.
It is hereby announced.
Beijing Bayi Space Lcd Technology Co.Ltd(688181) board of directors April 21, 2022
