Securities code: 600673 securities abbreviation: Guangdonghectechnologyholdingco.Ltd(600673) No.: Lin 2022-04 bond Code: 163048 bond abbreviation: 19 dongke 01
Bond Code: 163049 bond abbreviation: 19 dongke 02
Bond Code: 163150 bond abbreviation: 20 dongke 01
Guangdonghectechnologyholdingco.Ltd(600673)
Announcement on foreign investment
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 individual and joint liabilities for the authenticity, accuracy and integrity of its contents. Important content tips:
Name of investment object: aluminum foil project with an annual output of 100000 tons of low-carbon high-end battery
Investment amount: the total investment of the project shall not exceed 2710 million yuan, and the final amount shall be subject to the actual investment amount
Special risk tips:
1. The construction period of the project is long, the implementation progress of the project is uncertain, and the construction cost of the project is higher than the expected cost;
2. If the downstream demand fails to meet the expectation, or the industry and market conditions change significantly, there may be risks that the economic benefits of the project fail to meet the expectation;
3. At present, the company has not obtained all the technologies required for the products involved in the project. In the future, it may need to complete the procedures such as relevant technology authorization, transfer or introduction of technical parties. There is uncertainty about whether it can be completed and the completion time; 4. The product sales involved in this project need to obtain downstream customer certification, which has the risk of uncertain customer certification cycle and certification plan;
5. There is uncertainty in the future price trend of aluminum ingot, the raw material of the project. If the aluminum price fluctuates sharply, it will increase the pressure on the company’s raw material cost control;
6. The implementation of the investment project still needs to complete the pre-approval work such as government project approval and filing, public bidding, auction and listing of project land, environmental impact assessment, energy review and approval and construction permit. There is a risk that the approval or progress of the project in the future will not meet the expectations.
1、 Overview of foreign investment
In order to meet the market demand for battery aluminum foil products and further expand the company’s battery aluminum foil industry for lithium batteries, the company plans to invest in the construction of a low-carbon high-end battery aluminum foil project with an annual output of 100000 tons in Yidu City, Hubei Province, with a total investment of no more than 2710 million yuan. Meanwhile, the company will register and establish a wholly-owned subsidiary in Yidu City as the project company.
This investment does not constitute a major asset reorganization specified in the administrative measures for major asset reorganization of listed companies, nor does it constitute a related party transaction.
The company has held the 11th meeting of the 11th board of directors on January 11, 2022, deliberated and approved the proposal on foreign investment in battery aluminum foil project, and agreed to the company’s foreign investment. As the cumulative amount of the company’s foreign investment in the last 12 months has accounted for more than 50% of the company’s latest audited net assets as of this foreign investment, the proposal needs to be submitted to the general meeting of shareholders for deliberation in accordance with the stock listing rules of Shanghai Stock Exchange and the articles of association.
2、 Basic information of the investment project
1. Project Name: 100000 t / a low-carbon high-end battery aluminum foil project;
2. Total project investment: no more than 2710 million yuan, including project cost, other costs of project construction, basic reserve cost, land cost, construction interest cost and working capital, and the final amount shall be subject to the actual investment amount;
3. Construction location and content: the project is located in baotawan village, Lucheng, Yidu City, Hubei Province. The main construction content is to build a new aluminum foil production workshop for battery, supporting the construction of office, R & D and other auxiliary rooms, greening, environmental protection, fire fighting and other facilities;
4. Source of funds: self raised funds of the company;
5. Project construction period: the construction period of the project is 36 months. The project is divided into two phases. Both phase I and phase II projects are to build a low-carbon high-end battery aluminum foil project with an annual output of 50000 tons. Phase I project is expected to be put into operation in 2023 and phase II project is expected to be put into operation in 2025.
6. Approval procedures: the implementation of this investment project still needs to complete the pre-approval work such as government project approval and filing, public bidding, auction and listing of project land, environmental assessment, energy review and approval and construction permit.
3、 Impact of foreign investment on Listed Companies
The investment project conforms to the national industrial development plan and the company’s new energy strategic development direction, and has good development prospects and market space. After the project is put into operation, it will further expand the company’s production scale of battery aluminum foil, which is conducive to grasping the market development opportunities, effectively improving the company’s long-term core competitiveness and sustainable profitability, and there is no damage to the interests of the company or small and medium-sized investors.
The project investment is the investment for the company’s long-term development, and will not have a significant impact on the company’s financial situation and performance in the short term.
4、 Risk analysis of foreign investment
1. The construction period of the project is long, there is some uncertainty in the implementation progress of the project, and there is a risk that the construction cost of the project is higher than the expected cost;
2. If the downstream demand fails to meet the expectation, or the industry and market conditions change significantly, there may be risks that the economic benefits of the project fail to meet the expectation;
3. At present, the company has not obtained all the technologies required for the products involved in the project. In the future, it may need to complete the procedures such as relevant technology authorization, transfer or introduction of technical parties. There is uncertainty about whether it can be completed and the completion time; 4. The product sales involved in this project need to obtain downstream customer certification, which has the risk of uncertain customer certification cycle and certification plan;
5. The future price trend of aluminum ingot, the raw material of the project, is uncertain. If the aluminum price fluctuates sharply, it will bring uncertainty to the profitability of the project;
6. The implementation of the investment project still needs to complete the pre-approval work such as government project approval and filing, public bidding, auction and listing of project land, environmental impact assessment, energy review and approval and construction permit. There is a risk that the approval or progress of the project in the future will not meet the expectations.
The company will timely perform the approval procedures and information disclosure obligations according to the actual progress of the project and the requirements of relevant regulations. Please pay attention to the investment risks.
It is hereby announced.
Guangdonghectechnologyholdingco.Ltd(600673) January 12, 2022
