Securities code: 002625 securities abbreviation: Kuang-Chi Technologies Co.Ltd(002625) Announcement No.: 2022-009 Kuang-Chi Technologies Co.Ltd(002625)
About signing a contract for a large complex metamaterial aviation structure product
Announcement of major sales contracts
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.
Special tips:
1. This commercial procurement contract (hereinafter referred to as the “contract”) is a supply contract for a large complex metamaterial aviation structure product of Kuang-Chi Technologies Co.Ltd(002625) (hereinafter referred to as the “company”), and the tax included amount of the contract is 1986954400 yuan.
2. The contract shall come into force from the date when it is signed by both parties and stamped with the official seal of the unit, and the performance period shall be from January 2022 to July 2024;
3. The signing and performance of this contract is expected to have a positive impact on the company’s business performance in the performance year. The performance of this contract will not affect the independence of the company’s business, and the company will not rely on relevant customers for the performance of this contract.
4. There are no uncertainties and risks in the performance of this contract in terms of laws and regulations, performance capacity, technology, etc., but the relevant implementation is subject to the risk of force majeure. Please pay attention to the investment risk. The company recently received a notice from its wholly-owned subsidiary Shenzhen Guangqi cutting-edge technology Co., Ltd. (hereinafter referred to as “Guangqi cutting-edge”). Guangqi cutting-edge signed a procurement business contract with customer a on January 24, 2022, which will provide customer a with a large complex metamaterial structure product. The tax included in the contract is 1986954400 yuan. The relevant matters are as follows:
1、 Contract signing overview
(I) background of contract signing
On September 10, 2020, the company disclosed that a large-scale complex metamaterial structure product of Guangqi cutting-edge has reached an important application node, and it is expected to enter the stage of batch production and delivery in the near future. The product weight is the same as that of the company’s current batch production
The maximum weight of the product is more than 6 times. On February 4, 2021, for the above products, Guangqi cutting-edge successfully passed the acceptance of customer a and received the production notice. It will deliver a total of about 17000 kg of aviation metamaterial products to customer a. See cninfo.com for details of the above announcement（ http://www.cn.info.com.cn. ）Announcement on large complex metamaterial component products entering important application nodes (Announcement No.: 2020-133) and announcement on voluntary information disclosure of the company’s receipt of customer production notice (Announcement No.: 2021-013).
After receiving the notice of putting into production, Guangqi cutting-edge has carried out price negotiation with customer A. now, after friendly negotiation, both parties signed the procurement business contract in Chengdu on January 24, 2022. Subsequently, Guangqi cutting-edge will deliver the above large complex metamaterial structural parts to customer a in batches according to the purchase order under the contract, The 17000 kg of products previously disclosed are part of the requirements of the contract. The contract period is from January 2022 to July 2024. The tax included amount of the contract is 1986954400 yuan, accounting for 320.64% of the company’s audited main business income (including auto parts business) in 2020 and 486.94% of the company’s audited super material business income in 2020. According to the relevant provisions of the Listing Rules of Shenzhen Stock Exchange (revised in 2022) and the articles of association, this event constitutes a daily transaction that needs to be disclosed.
2、 Introduction to counterparty
The company has fulfilled the approval procedures in accordance with relevant regulations and exempted the disclosure of relevant information of customer a. Customer a has no relationship with the company. Similar transactions between the company and customer a in the last three years are as follows:
Proportion of annual sales amount (10000 yuan) in annual operating revenue
2018 613.00 1.32%
2019 6297.50 13.09%
8726.08 13.71% in 2020
After inquiring the national enterprise credit information publicity system, customer a is an effective limited liability company with excellent asset scale and transaction reputation and good performance ability.
3、 Main contents of the contract
Contract delivery content: a metamaterial aviation functional structure product
Contract tax included amount: 1986954414.69 yuan (in words: one billion nine hundred and eighty-six million nine hundred and fifty-four thousand four hundred and fourteen yuan and sixty-nine cents)
Contract performance period: from January 2022 to July 2024. The specific delivery schedule shall be implemented in accordance with the contract or the customer’s delivery plan;
The terms of the contract have made clear provisions on product delivery, product price, quality requirements, technical standards, packaging standards, acceptance standards, settlement methods and time limit, liability for breach of contract, ways to solve contract disputes, etc. The company shall perform the approval procedures and exempt the disclosure of the product name, specification, model, quantity, quality requirements and other information involved in the contract in accordance with relevant regulations.
4、 The impact of contracts on Listed Companies
The contract signed this time is the supply contract for a large complex metamaterial aviation structure product of the company. It is also the largest single sales contract signed by the company since its establishment, which is of milestone significance. The signing of this contract means that important customers highly recognize the products and services provided by the company, and also reflects that the company has the ability to continuously and large-scale prepare a new generation of metamaterial aviation structure products, which can fully meet the needs of customers for large-scale batch production of aviation equipment. The company will continue to invest in the R & D, production, testing and construction of metamaterials, enhance the market competitiveness of new generation of metamaterials, aviation structures and other products, and consolidate the company’s market competitive position in the field of advanced equipment of metamaterials.
The company has been deeply engaged in the advanced equipment industry of metamaterials for many years, accumulated rich experience in R & D and mass production of advanced equipment products of metamaterials, and established a complete industrialization system from bottom research to industrial application of products. In recent years, the company has invested heavily in the R & D, production, testing and construction of metamaterials. The large-scale complex metamaterial aviation structure products in the contract signed this time have been developed by the company for many years, passed the customer’s acceptance in February 2021 and put into operation smoothly. The first phase of 709 base of the company’s raised investment project has been completed and put into operation ahead of schedule in 2021, with an annual output of 40000 kg of super material products, which can meet the production and delivery needs of the above products.
The company has the largest and most fully functional metamaterial electromagnetic testing darkroom in South China, which provides an effective guarantee for the high-quality delivery of the above large and complex metamaterial aviation structure products. Therefore, the company currently has the ability of stable and large-scale batch production of advanced equipment products of metamaterials, and the capital, personnel, technology and production capacity can ensure the smooth performance of orders. With the increasing market demand for cutting-edge equipment, the production capacity of phase I of 709 base will not meet the company’s medium and long-term delivery needs. The company plans to increase investment and start the construction of phase II of 709 base. Phase II of 709 base has entered the scheme design stage and will start construction in 2022.
Customer a is a major enterprise in relevant fields in China, with excellent asset scale and transaction reputation and good performance ability.
The signing and performance of this contract is expected to have a positive impact on the company’s operating performance from 2022 to 2024. The performance of this contract will not affect the independence of the company’s business, and the company will not rely on relevant customers for the performance of this contract.
5、 Risk tips
1. As the delivery schedule of Guangqi cutting-edge is mainly affected by the plans of customers and their business end users, there may be a risk that due to the uneven distribution of delivery time, the revenue and operating performance may fluctuate in each reporting period;
2. During the performance of the contract, major changes in the external macro environment, unexpected events and other force majeure or unpredictable factors may affect the performance of the contract, so there are certain performance risks and uncertainties.
6、 Contract review procedure
According to the Listing Rules of Shenzhen Stock Exchange and the articles of association, this transaction does not need to be submitted to the board of directors and the general meeting of shareholders for deliberation.
It is hereby announced.
Kuang-Chi Technologies Co.Ltd(002625)
Board of directors
January 26, 2002
