Shandong Hi-Speed Road&Bridge Co.Ltd(000498)
Public issuance of convertible corporate bonds to raise funds
Use feasibility analysis report (Revised Version)
May, 2002
1、 Use plan of raised funds
The total amount of funds to be raised from this public offering of convertible corporate bonds shall not exceed 500 million yuan, and all the funds raised (after deducting the issuance expenses) will be invested in the following projects:
Unit: 10000 yuan
No. project name proposed investment proposed total capital investment of raised funds investment amount
1 National Highway 212 Cangxi backwater Langzhong PPP project 140 Shenzhen Zhenye(Group)Co.Ltd(000006) 0 Shenzhen Zhenye(Group)Co.Ltd(000006) 000000
2. PPP project of Shicheng Industrial Park 1026 Shenzhen Sdg Information Co.Ltd(000070) Shenzhen Quanxinhao Co.Ltd(000007) 000000
3 Huidong County ring road, Chengnan New Area Planning Area Road Engineering 795191850 Shenzhen Fountain Corporation(000005) 000000 project, old urban road reconstruction project PPP project
4 reconstruction project of Liaocheng ring section of s242 Linshang line 1755371770 Shenzhen Quanxinhao Co.Ltd(000007) 000000
5. Reconstruction project of Liaocheng ring road section of S246 linzou line 1442463150 Shenzhen Fountain Corporation(000005) 000000
6 PPP project for infrastructure construction in eastern urban area of Laiyang 648860050 Shenzhen Fountain Corporation(000005) 000000
7 supplementary working capital 100 Ping An Bank Co.Ltd(000001) 0000000 0.00
8 repayment of bank loan 50 Shenzhen Fountain Corporation(000005) 000000 0.00
Total 856788665000 China Tianying Inc(000035) 000000
If the actual raised funds (after deducting the issuance expenses) are less than the total amount of the proposed raised funds, the board of directors of the company will arrange the specific use of the raised funds according to the importance and urgency of the purpose of the raised funds, and the insufficient part will be solved by self financing. If the funds raised by the company are in place, they can be replaced with the funds raised by the company in accordance with the above laws and regulations. Within the scope of the final raised investment project (subject to the filing documents of relevant competent authorities), the board of directors of the company may appropriately adjust the investment sequence and amount of raised funds of the above projects according to the actual needs of the project. 2、 Basic information of the project invested by the raised funds (I) Cangxi backwater Langzhong PPP project of national highway 212 1. Basic information of the project
Project Name: PPP project of Cangxi backwater Langzhong Shuanglong section of national highway 212 (Langzhong middle section)
Total investment: 140 million yuan
Project construction period: 3 years
Project operation period: 15 years
Project operation mode: BOT
Operation and maintenance content of the project: the project is the construction of national highway transportation infrastructure. It is a public welfare project without charge. The operation scope during the operation period includes the operation and maintenance of all construction contents such as roads, bridges, tunnels, greening and street lamps. According to the purpose and object of maintenance, it is divided into daily maintenance, minor maintenance and overhaul. The project company is responsible for the daily maintenance and minor maintenance. The project company shall do a good job in the operation and maintenance of the project in accordance with the industrial maintenance specifications to ensure that the project provides public services according to the design functions.
Return mechanism: Government Payment
Project Warehousing: it has entered the PPP project management library of the Ministry of finance
2. Necessity of project construction
National Highway 212 starts from Lanzhou, Gansu, passes through Longnan to Yaodu, enters Sichuan, passes Guangyuan and Nanchong, and ends in Chongqing. The total length of the route is 1271 km. Among them, the Sichuan section crosses Qingchuan, Guangyuan, Yuanba, Cangxi, Langzhong, Nanbu, Xichong, Nanchong, wusheng and other cities and counties (districts), with a total length of about 446km. Connect the northwest and southwest hinterland, build an important channel for land water intermodal transport, connecting rivers and seas, accelerate information exchange and drive economic development. The construction of the project is of great significance to speed up the networking and unblocked project of trunk roads in Sichuan Province.
The implementation of the project will help Langzhong solve the traffic problems in the old urban area and redefine the function and positioning of the old urban cluster; It is conducive to the expansion of the city to the north and promote the construction and development of backwater clusters; It is conducive to promoting the construction and development of huajiaba group. Therefore, the construction of the project will greatly promote the rapid economic development of Cangxi and Langzhong cities. It is a necessary measure to comply with the urban zoning planning group, connect the traffic on both sides and reasonably establish the regional road network; It will alleviate the traffic pressure of Zhangfei Road, Panlong road and the first and second bridges of Jialing River in Langzhong, effectively share the transit traffic flow, and greatly improve the traffic and transportation situation of Langzhong; In addition, the construction of the project is of great significance to the protection of Langzhong ancient city area; It also helps Langzhong to create a modern ecological city atmosphere with harmonious integration of city, residents and nature and smooth transportation. It plays an extremely important role in protecting the city's style, improving the city's taste, promoting tourism development and shaping the city's image. 3. Project construction scale
The project is located in Langzhong City and belongs to Cangxi and Langzhong transit sections of national highway 212. Langzhong starts at the junction of Langzhong and Cangxi (crossing Dongzi), connects zhangfei North Road, Panlong Road, the connecting line (tunnel) of the fourth Jialing River Bridge and Binjiang South Road through gaojiaba, liujiaba and tengwangge sections, and then ends at Shuanglong town through Santai mountain, Jinyintai hydropower station and the third Jialing River bridge. Among them, the construction section of the project is 12.4km from Cangxi boundary to tengwangge, and 5.6km from the third Jialing River Bridge to Shuanglong. A total of 18km of new roads are class I roads with a design speed of 60km / h, two-way four lanes and a subgrade width of 23-40m.
The registered capital of the project company is 50 million yuan, of which 5 million yuan is contributed by the representative of the government investor, with a shareholding ratio of 10% The subsidiary of Shandong Hi-Speed Road&Bridge Co.Ltd(000498) (hereinafter referred to as " Shandong Hi-Speed Road&Bridge Co.Ltd(000498) "), Shandong highway and Bridge Construction Group Co., Ltd., together with Sichuan Zhongxun Runze Construction Engineering Co., Ltd. and Chongqing Jiaotong University engineering design and Research Institute Co., Ltd., formed a consortium to invest 45 million yuan as social capital through public bidding.
According to the tripartite Consortium Agreement, Shandong highway and Bridge Construction Group Co., Ltd. is responsible for the construction of subgrade, pavement, bridge and culvert and other projects; Chongqing Jiaotong University engineering design and Research Institute Co., Ltd. is responsible for all survey and design of the project; Sichuan Zhongxun Runze Construction Engineering Co., Ltd. is responsible for all work during the operation period of the project. 4. Economic evaluation of the project
The PPP project of Cangxi backwater Langzhong Shuanglong section of national highway 212 (Langzhong middle section) has a total investment of 140 million yuan, including construction and installation cost of 10412722 million yuan (about 74.38% of the total investment), other costs of 2892818 million yuan (including land acquisition and demolition cost of 1739287 million yuan), reserve cost of 645845 million yuan and interest during the construction period of 437265 million yuan.
According to preliminary calculation, the total cash inflow of the project in the whole cycle is 257393 million yuan, of which the total cash inflow of construction net profit is 109.32 million yuan, the total cash outflow of the project in the whole cycle is 156821 million yuan, and the total cash inflow after tax is 67.276 million yuan. The project has a good economic return as a whole.
According to the cash flow in the whole cycle of the project, it can be estimated that the internal rate of return of PPP project in Langzhong section of Guodao 212 is 5.69%, the financial net present value (NPV) of the project is about 305962 million yuan, and the static investment payback period of the project is about 12.75 years (including 3 years of construction period).
In conclusion, the PPP project of Cangxi backwater Langzhong Shuanglong section of national highway 212 (Langzhong middle section) has good economic benefits. 5. Relevant Reply of the project
The project has obtained the approval of the feasibility study report issued by Sichuan development and Reform Commission and Langzhong development and Reform Bureau, and the approval of the EIA impact assessment form issued by Langzhong Environmental Protection Bureau and Nanchong ecological environment bureau. The project has been listed in the PPP comprehensive information platform system project library of the government and social capital cooperation center of the Ministry of finance. The qualification documents obtained for the project are as follows:
Approval type serial number document name issuing unit
Approval type serial number document name issuing unit
On the double of Cangxi backwater to Langzhong of national highway 212
1. Longhe highway construction (Langzhong middle section) PPP project is funded by Langzhong Finance Bureau
Verification opinions on value evaluation (langcai letter)
[2018] No. 6)
The Ministry of finance has put into the warehouse the notice on the return water from Cangxi to Langzhong of national highway 212
Two reviews and one case, two dragons and highway construction (Langzhong middle section) PPP project finance Langzhong Finance Bureau
Verification opinions on political affordability (langcai letter)
[2018] No. 7)
About Cangxi backwater to Langzhong Shuanglong of national highway 212
3. Implementation of PPP project for class I highway construction (Langzhong middle section) Langzhong Municipal People's Government
Reply to the plan (LFH [2018] No. 72)
About Cangxi backwater to Langzhong Shuanglong of national highway 212
Reply to the feasibility study report of section 1 highway (cgj [2018] No. 87 of Sichuan development and Reform Commission)
Feasibility study on the construction of Langzhong Jialing River Third Bridge Shuanglong section highway
Report 2 reply to the feasibility study report on the establishment of the project (Langfa Gai Langzhong development and Reform Bureau [2019] No. 165)
On the upgrading of Langzhong section of national highway 212
3. Reply to the feasibility study report of the project (Langfa Gai Langzhong development and Reform Bureau [2019] No. 653)
On the construction of the third Jialing River Bridge Shuanglong section in Langzhong
1. Reply to the environmental impact report of the project (Langzhong Environmental Protection Bureau, langhuan)
EIA approval [2019] No. 16)
On the upgrading of Langzhong section of national highway 212
2. Reply to the environmental impact report of the project (Nanchong Ecological Environment Bureau of nanlanghuan ring)
S [2022] No. 3)
On the national highway of Langzhong Municipal People's Government
Included in the middle term of Cangxi Huishui Langzhong Shuanglong section of CAI 212 line (Langzhong)
Political resolution 1 (middle section) PPP project government paid funds are included in the finance of Langzhong Municipal People's Congress Standing Committee
Deliberation opinions of the budget report (Langren)
[2021] No. 50)
About Cangxi backwater to Langzhong Shuanglong of national highway 212
1 report on the review opinions of Langzhong natural resources and Planning Bureau on the site selection planning of class I Highway (Langzhong middle section) (Langzhong Planning Office [2015] 35
Planned land No.)
Construction project selection of the people's Republic of China
