Orient Securities Company Limited(600958) underwriting sponsor Co., Ltd
About Shentong Technology Group Co.Ltd(605228)
Verification opinions on temporarily replenishing working capital with some idle raised funds
Orient Securities Company Limited(600958) underwriting recommendation Co., Ltd. (hereinafter referred to as “Oriental Investment Bank” or “recommendation institution”) as the recommendation institution and continuous supervision institution for the initial public offering of Shentong Technology Group Co.Ltd(605228) (hereinafter referred to as ” Shentong Technology Group Co.Ltd(605228) ” or “company”), in accordance with the administrative measures for securities issuance and listing recommendation business The requirements of relevant laws, regulations and normative documents such as guidelines for the supervision of listed companies No. 2 – regulatory requirements for the management and use of raised funds by listed companies, stock listing rules of Shanghai Stock Exchange, measures for the administration of raised funds by listed companies of Shanghai Stock Exchange, etc, Prudential verification was conducted on Shentong Technology Group Co.Ltd(605228) using some idle raised funds to temporarily supplement working capital. The specific verification results are as follows:
1、 Basic information of raised funds
According to the reply on approving Shentong Technology Group Co.Ltd(605228) initial public offering of shares (zjxk [2020] No. 3062) issued by China Securities Regulatory Commission and with the consent of Shanghai Stock Exchange, the company issued 80 million RMB common shares (a) at an initial public offering price of 5.89 yuan / share, and the total amount of raised funds was 471200000.00 yuan, After deducting the issuance expenses, the net amount of raised funds is 412150281.51 yuan. The balance of the above raised funds after deducting the recommendation and underwriting fee has been fully recorded in the account, and has been verified by Lixin Certified Public Accountants (special general partnership) and issued a capital verification report (Xin Kuai Shi Bao Zi [2021] zf10015). The company has adopted a special account for the raised funds, and signed a tripartite supervision agreement with the sponsor and the deposit bank for the raised funds.
The company held the 13th meeting of the first board of directors and the 7th Meeting of the first board of supervisors on February 4, 2021, deliberated and adopted the proposal on using some idle raised funds to supplement working capital temporarily, and agreed that the company should use the idle raised funds of no more than 230 million yuan to supplement working capital temporarily, The service life shall not exceed 12 months from the date of deliberation and approval by the board of directors. For details, please refer to the website of Shanghai Stock Exchange (www.sse. Com. CN.) on February 5, 2021 And the announcement on temporarily replenishing working capital with some idle raised funds (Announcement No.: 2021-004) disclosed on the designated media.
As of December 30, the company’s actual amount of idle raised funds to temporarily supplement working capital was 188503800 yuan. The company has returned all the above funds to the special account for raised funds and notified the company’s recommendation institution and recommendation representative. For details, please refer to the website of Shanghai Stock Exchange (www.sse. Com. CN.) on December 30, 2021 And the announcement on the return of idle raised funds for temporary supplementary working capital disclosed on the designated media (Announcement No.: 2021-061).
2、 Basic information of projects invested with raised funds
As of December 31, 2021, the investment of funds raised by the company’s initial public offering is as follows:
Unit: 10000 yuan
Project input
The raised capital to be used in the project investment has been invested accumulatively
No. item name (%)
Total investment amount of raised funds
1 automobile interior and exterior trim production expansion project 19310.88 3310.88 303.78 9.18
2 automobile power product expansion project 17622.84 14030.13 4779.95 34.07
3. Production expansion project of automotive high gloss exterior trim 12931.86 12931.86 8520.26 65.89
4 R & D center construction project 10618.98 2618.98 872.99 33.33
5 automobile intelligent product production and construction project 5323.18 3323.18 13.68 0.41
6 supplementary working capital project 5000.00 5000.00 5000.00 100
Total 70807.74 41215.03 19490.66 47.29
As of December 31, 2021, the balance of the company’s fund-raising account was 219070609.01 yuan (including the net amount of bank deposit interest income minus bank handling charges).
3、 The plan of temporarily replenishing working capital by using some idle raised funds this time
In order to improve the use efficiency of the raised funds and reduce the company’s financial expenses, on the premise of ensuring the construction fund demand of the project invested by the raised funds and the normal progress of the project, the company plans to use no more than 180 million yuan of idle raised funds to temporarily supplement the working capital, and the service life shall not exceed 12 months from the date of deliberation and approval by the board of directors. The use of some idle raised funds to temporarily supplement working capital does not change the investment direction of the raised funds in a disguised manner, will not change the purpose of the raised funds, and will not affect the normal progress of the investment plan of the raised funds.
During this period, if the balance of the special account for raised funds cannot meet the payment of raised funds, the company will return the raised funds that have been temporarily supplemented with working capital to the special account for raised funds in time according to the actual needs.
4、 The review procedure for temporarily replenishing working capital with part of idle raised funds the company held the fifth meeting of the second board of directors and the fourth meeting of the second board of supervisors on January 14, 2022, and considered and adopted the proposal on temporarily replenishing working capital with part of idle raised funds, It is agreed that the company shall use the idle raised funds of no more than 180 million yuan to supplement the working capital temporarily, and the service life shall not exceed 12 months from the date of deliberation and approval by the board of directors. The independent directors of the company expressed their independent opinions on this matter.
5、 Opinions of the sponsor
Upon examination, the sponsor believes that the company’s use of some idle raised funds to temporarily supplement working capital has been deliberated and approved by the board of directors and the board of supervisors of the company, and the independent directors have expressed their consent. The matter has fulfilled the corresponding deliberation procedures and is in line with the stock Listing Rules of Shanghai Stock Exchange Relevant provisions 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 do not affect the normal use of funds for investment projects with raised funds, and there is no situation of changing the investment direction of raised funds in a disguised manner and damaging the interests of shareholders. Therefore, the recommendation institution has no objection to the company’s use of some idle raised funds to temporarily supplement working capital. (no text below)
(there is no text on this page, which is the signature and seal page of Orient Securities Company Limited(600958) underwriting recommendation Co., Ltd. on Shentong Technology Group Co.Ltd(605228) using some idle raised funds to temporarily supplement working capital) recommendation representative:
LV Shaoyu, Cui Hongjun
Orient Securities Company Limited(600958) underwriting and recommendation Co., Ltd. mm / DD / yyyy