Securities code: Xinxiang Chemical Fibre Co.Ltd(000949) securities abbreviation: Xinxiang Chemical Fibre Co.Ltd(000949) Announcement No.: 2022030
Xinxiang Chemical Fibre Co.Ltd(000949)
Announcement on risk tips and filling measures for diluted immediate return of non-public offering of shares and commitments of relevant subjects
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.
According to several opinions of the State Council on further promoting the healthy development of the capital market (GF [2014] No. 17) The relevant requirements of the opinions of the general office of the State Council on Further Strengthening the protection of the legitimate rights and interests of small and medium-sized investors in the capital market (GBF [2013] No. 110) and the guiding opinions on matters related to initial public offering, refinancing and dilution of immediate return for major asset restructuring (CSRC announcement [2015] No. 31) of the CSRC, in order to protect the right to know of small and medium-sized investors and safeguard the interests of small and medium-sized investors, Xinxiang Chemical Fibre Co.Ltd(000949) (hereinafter referred to as "the company") has analyzed the possible impact of this non-public offering of shares on the immediate return, and formulated specific measures to fill the return. The relevant subjects have made a commitment to the practical implementation of the company's measures to fill the return. The details are as follows:
1、 Impact of diluted immediate return of this non-public offering on the company's main financial indicators
(I) main assumptions and premises
The following assumptions are only to calculate the impact of the diluted immediate return of this non-public offering on the company's main financial indicators, do not represent the judgment of the company's operation and trend in 2022, and do not constitute a profit forecast. Investors should not make investment decisions on this basis. If investors make investment decisions on this basis and cause losses, the company will not be liable for compensation.
Relevant assumptions are as follows:
1. It is assumed that there are no major changes in the macroeconomic environment, industrial policies, industrial development and market conditions;
2. Assuming that the non-public offering is completed by the end of September 2022, the completion time is only used to calculate the impact of the diluted immediate return of the non-public offering on the main financial indicators, and does not constitute a commitment to the actual completion time. Finally, the actual completion time after the issuance is approved by the CSRC shall prevail;
3. Assuming that the total amount of funds raised from this non-public offering of shares is 138 million yuan (excluding the impact of issuance expenses), the number of shares issued is 300 million, and the issuance price of this non-public offering of shares is 4.60 yuan / share. The above total amount of raised funds, issuance quantity and issuance price are only estimated values, which are only used to calculate the impact of the diluted immediate return of this non-public offering on the main financial indicators, and do not represent the final total amount of raised funds, issuance quantity and issuance price;
4. The amount of cash dividend implemented by the company in 2021 is 1 yuan for every 10 shares, i.e. a total dividend of 1466728 million yuan, which will be implemented in May 2022;
5. The net profit attributable to the parent company in 2021 is calculated on the basis of 10% growth and 2% decline of non current profit in 2021 respectively;
6. The impact on the company's operation and financial status (such as financial expenses and investment income) after the funds raised by this issuance are received is not considered;
7. When predicting the net assets of the company after this issuance, the impact of other factors other than raised funds, net profits and cash dividends on the net assets was not considered; Other factors that have an impact on the number of shares, such as the company's share offering and the conversion of provident fund into share capital, are not considered;
8. When calculating the total share capital of the company at the end of this issuance and calculating the earnings per share, only the impact of the above assumptions on the total share capital is considered, and other possible equity changes are not considered.
(II) impact on main financial indicators
Based on the above assumptions, the company calculated the impact of the diluted immediate return of the non-public offering on the company's main financial indicators such as earnings per share at the end of 2022, as shown in the following table:
Project year 2021 / year 2021 / year 2022 / December 31, 2022
Before and after issuance on December 31
Total number of shares (shares) at the end of the period 146672777814667277781766727778
Scenario 1: the net profit attributable to the parent company after deducting non recurring profits and losses in 2022 increased by 10% compared with 2021
After deducting non recurring profits and losses
Net profit of shareholders of the parent company (10000 yuan) 141323881554562715545627
After deducting non recurring profits and losses
Earnings per share (yuan / share) 1.0375 1.0599 1.0083 diluted after deducting non recurring profits and losses
Share income (yuan / share) 1.0375 1.0599 1.0083
Weighted balance after deducting non recurring profit and loss
Return on average net assets 28.09%, 22.55%, 21.47%
Scenario 2: the net profit attributable to the parent company after deducting non recurring profits and losses in 2022 is the same as that in 2021
Net profit of shareholders of the parent company (10000 yuan) 141323881413238814132388
After deducting non recurring profits and losses
Share income (yuan / share) 1.0375 0.9635 0.9167
Diluted after deducting non recurring profit and loss
Share income (yuan / share) 1.0375 0.9635 0.9167
Weighted balance after deducting non recurring profit and loss
Return on average net assets 28.09%, 20.71%, 19.71%
Scenario 3: the net profit attributable to the parent company after deducting non recurring profits and losses in 2022 is 10% lower than that in 2021
After deducting non recurring profits and losses
Net profit of shareholders of the parent company (10000 yuan) 141323881271914912719149
After deducting non recurring profits and losses
Share income (yuan / share) 1.0375 0.8672 0.8250
Diluted after deducting non recurring profit and loss
Share income (yuan / share) 1.0375 0.8672 0.8250
Weighted balance after deducting non recurring profit and loss
Return on average net assets 28.09%, 18.83%, 17.92%
Note: the basic earnings per share and diluted earnings per share are calculated in accordance with the provisions of the rules for the preparation of information disclosure of companies offering securities to the public No. 9 - Calculation and disclosure of return on net assets and earnings per share.
It can be seen from the above table that after the completion of this non-public offering, the company's basic earnings per share, diluted earnings per share and return on net assets are expected to decline to a certain extent in the short term. Therefore, the company's immediate return will be diluted to a certain extent in the short term.
2、 Risk tips for diluted immediate return of this offering
After the raised funds are in place, the total share capital and net assets of the company will increase accordingly after the issuance. After the raised funds are in place, it will take a certain time to generate economic benefits. In the short term, the profit growth rate is expected to be less than that of net assets, resulting in a certain decline in the company's earnings per share, return on net assets and other indicators in a short time, and there is a risk that the immediate return of shareholders will be diluted.
Investors are specially reminded to invest rationally and pay attention to the risk that this non-public offering may dilute the immediate return. In the process of calculating the dilution impact of this issuance on the immediate return, the hypothetical analysis of the company's net profit attributable to the owner of the parent company in 2022 is not the company's profit forecast. The specific measures to fill in the return to deal with the risk of dilution of the immediate return are not equal to ensuring the company's future profits. Investors should not make investment decisions based on this. If investors make investment decisions based on this, resulting in losses, The company is not liable for compensation. Draw the attention of investors.
3、 Necessity and feasibility of the project invested by the raised funds
(I) phase III project of 100000 tons per year high-quality ultra-fine denier spandex fiber project
1. Project overview
The phase III project of the company's annual output of 100000 tons of high-quality ultra-fine denier spandex fiber project aims to build "Egret" spandex into one of the high-quality product brands in China's Spandex Industry by building a large-scale differentiated ultra-fine denier spandex fiber production base in China, expand the proportion of differentiated spandex fiber products and improve the company's competitive advantage in differentiated spandex market segments.
The total investment of the third phase of the project with an annual output of 100000 tons of high-quality ultra-fine denier spandex fiber is 1044667600 yuan. The project plans to adopt a complete set of 120 head spinning corridor continuous polymerization dry spinning technology, which has high degree of automation, stable process parameters, high product quality, low material and energy consumption and good operation benefits. Through process adjustment, changing additives and process parameters, the production line of the project is as flexible as possible, and can produce fine denier, ultra-fine denier and other differentiated spandex fibers with special properties such as temperature resistance, chlorine resistance and easy dyeing.
2. Necessity and feasibility of the project
(1) Enhance the business technology level and enhance the competitiveness of the company's Spandex business
The project adopts the sixth generation continuous polymerization dry spinning production process, that is, the complete set of 120 head spinning corridor continuous polymerization dry spinning technology. After the completion of the project, an annual output of 40000 tons of fine denier, ultra-fine denier shiny or translucent spandex fiber will be formed. The project adopts high-density spinning technology, the number of silk cakes per unit reaches 120, and the spinning speed reaches 1000m / min, which greatly improves the production efficiency of fine denier silk. With the use of new technologies, the cost and production efficiency advantages of the company in spandex business will be more obvious. Especially in the context of stricter national environmental protection policies, the use of new technologies will effectively improve the comprehensive competitiveness of the company.
(2) Improve the business structure of Spandex Products and adapt to the changes of market demand
According to the 2021 annual report of spandex industry chain released by information network, the market share of products with 20d and below in the spandex market increased from 21.6% in 2020 to 23.0% in 2021. The fine denier trend of spandex industry is obvious. In addition, according to wind information data, in March 2022, the price of 20d spandex on the market was about 30% higher than that of 40d spandex, and the profitability of fine denier spandex was strong. The products of this raised investment project will mainly be 10d, 15d, 18D and 20d ultra-fine denier spandex yarn. According to the changes of market environment, the company timely builds high-quality ultra-fine denier spandex project, which can effectively optimize the company's Spandex product structure, improve the profitability of the company's products and adapt to the changes of market demand.
(3) The company has complete spandex business system and strong technical strength
The company is a "national textile technology innovation demonstration enterprise", "Henan Province Technology Innovation Demonstration Enterprise", "Henan Province energy conservation and emission reduction technology innovation demonstration enterprise", "China chemical fiber industry intelligent manufacturing excellent enterprise", "China chemical fiber industry green manufacturing excellent enterprise", "national chemical fiber industry" 13th five year plan "high-quality development leading enterprise" "National chemical fiber industry '13th five year' green development demonstration enterprise" and "Henan Manufacturing leading goose enterprise". The company has R & D platforms such as postdoctoral scientific research workstation, Henan chemical fiber engineering technology research center, Henan fiber green manufacturing engineering technology research center and Xinxiang differentiated spandex engineering technology research center. The company's "Egret" spandex products have won the certification of international environmental protection and ecological textiles. The products sell well in China and are exported to Europe, North America, Asia and other places.
The project plant area has complete supporting public engineering facilities, such as water supply, power supply, steam supply, etc. The supply of main raw materials required for the production of spandex in this project is sufficient. The company has maintained good cooperative relations with many suppliers for a long time, which can ensure the stable and timely supply of raw materials and meet the production and development needs of enterprises. In addition, the company has a team of skilled, honest, dedicated, young, capable and efficient technicians and production workers, which lays a solid technical and talent foundation for the steady and efficient development of the company's spandex industry.
3. Project construction content
(1) Implementation subject
The implementation subject of the project is the company.
(2) Site selection
The project site is located in the south of Xinchang North Road and the west of Bailu Avenue, Xinxiang Industrial cluster area, Xinxiang City.
(3) Construction scale
After the completion of the project, the company will have an annual production capacity of 40000 tons of fine denier or translucent spandex.
(4) Project construction period
The construction period of the project is from July 2022 to December 2023, and the construction period is 18 months.
4. Total investment and benefit calculation
No. proportion of project investment (10000 yuan)
I. construction investment 8869352 84.90%
1. Equipment purchase cost
