On January 26, Chongqing Sokon Industry Group Stock Co.Ltd(601127) (601127) disclosed the fixed increase plan. The company plans to raise 7.13 billion yuan. After deducting the issuance expenses, the net amount of the raised funds will be used for the development of electric vehicle models and the technical upgrading of product platforms, the intelligent upgrading of factories and the construction of electric drive production lines, the construction of user centers and the supplement of working capital.
Referring to the background of this fixed increase, Chongqing Sokon Industry Group Stock Co.Ltd(601127) said that the new energy vehicle industry is developing rapidly, and the national and local governments have successively issued policies to vigorously support the development of new energy vehicles. At the same time, the transformation and upgrading of the traditional automobile industry has entered the stage of diversified development. The company believes that through the implementation of raised investment projects, the company can build core competitiveness, improve production technology and improve process quality.
Chongqing Sokon Industry Group Stock Co.Ltd(601127) refinancing actions are frequent. At the end of June last year, the company just completed a fixed increase of 2.59 billion yuan. In October last year, the company began to launch the issuance of H shares. However, according to another announcement disclosed on the 26th, the issuance of H shares of the company has been suspended due to changes in the global economy and capital market, and the subsequent arrangements will be determined according to the market conditions.
it is proposed to raise 7.13 billion yuan
The electric vehicle development and product platform technology upgrading project is the focus of Chongqing Sokon Industry Group Stock Co.Ltd(601127) This fund-raising and investment project. The specific contents include the development of six electric vehicle models, the upgrading of de-i platform and the R & D and upgrading construction of a series of product technologies. The total investment of the project is 4.75 billion yuan, and the proposed fund-raising is 4.31 billion yuan. Since the project does not involve the construction of production capacity, it does not directly produce economic benefits.
According to the plan, the development of electric vehicles includes the development of three high-end intelligent electric vehicles and three practical electric vehicles. The upgrade of de-i platform includes the development of hybrid high-efficiency electromechanical coupling system, high-efficiency extended range / hybrid special engine and high-efficiency extended range powertrain. Product technology upgrading includes technology development in four aspects: intelligent cockpit, intelligent Internet connection, automatic driving and electronic and electrical architecture.
Chongqing Sokon Industry Group Stock Co.Ltd(601127) said that the above projects conform to the development trend of the industry, are conducive to upgrading the electric vehicle platform, and can further improve the SUV product series and cover more consumer groups; At the same time, the project has broad market space, and the company also has strong independent innovation ability, rich core technology reserves and rich R & D and test experience.
Chongqing Sokon Industry Group Stock Co.Ltd(601127) in particular, in recent years, China's smart electric vehicle segment with more than 200000 yuan has continued to be popular. Joint venture car companies and independent car companies have continued to launch intelligent electric vehicle products in this price range to continuously expand and compete for this segment market. Thalis Huawei smart sF5 has received extensive attention from users since its listing. For the smart electric vehicle segment market with more than 200000 yuan, the company's new product AITO Q M5 has considerable potential market demand.
Another key investment of this fixed increase is to supplement working capital, involving the raising of 2 billion yuan. Chongqing Sokon Industry Group Stock Co.Ltd(601127) said that this move will ease the pressure on the company's working capital, meet the working capital demand brought by the continuous growth of the company's business scale, reduce the asset liability ratio, optimize the asset structure, increase the anti risk ability and further improve the company's overall profitability.
Other investment raising directions also include factory intelligent upgrading and electric drive production line construction projects, with a total investment of 633 million yuan. The specific contents include intelligent upgrading and transformation of automobile production line, intelligent upgrading and transformation of automobile parts assembly production line, and construction of high-efficiency and high-power density electric drive and high flexibility production line.
In addition, the total investment of the user center construction project is 227 million yuan, and Chongqing Sokon Industry Group Stock Co.Ltd(601127) plans to expand and build the offline store network system according to the overall development plan of the company's brand. The company plans to build 20 offline user centers in major cities across the country to further cover the main target markets, and pave the way for the sales of the company's new energy vehicle products in combination with the existing Wuxi Online Offline Communication Information Technology Co.Ltd(300959) channels.
suspend the issuance of H shares
At the same time that announced the start of fixed increase, Chongqing Sokon Industry Group Stock Co.Ltd(601127) also announced the suspension of the long planned issuance of H shares. The company said that due to the changes in the global economy and capital market, after careful consideration, the company decided to suspend the process of H-share issuance and listing, and the subsequent arrangements will be determined according to the market conditions. The company also said, "thank investors for their trust in the company and their recognition of the company's development strategy."
In mid October last year, the board of directors of Chongqing Sokon Industry Group Stock Co.Ltd(601127) deliberated and approved the proposal on the company's issuance of H shares, listing in Hong Kong and conversion into an overseas offering company limited by shares, which was subsequently deliberated and approved by the general meeting of shareholders.
The statement of Chongqing Sokon Industry Group Stock Co.Ltd(601127) shows that the issuance of H shares is based on the company's development strategy and operational needs to further improve the company's capital strength and comprehensive competitiveness.
According to the announcement at that time, Chongqing Sokon Industry Group Stock Co.Ltd(601127) the raised funds from the issuance of H shares, after deducting the relevant issuance expenses, will be used for the development of the company's high-end intelligent electric vehicle business, including but not limited to product and technology development, R & D and upgrading of production facilities, marketing and brand construction, as well as the company's working capital and general corporate purposes.
From the above statement, Chongqing Sokon Industry Group Stock Co.Ltd(601127) this time to start A-share fixed increase is either to make up for the potential capital gap left by the suspension of H-share issuance, or the company believes that refinancing through A-share fixed increase is better than H-share issuance at this time. According to the previous information, the validity period of the company's resolution on Issuing H shares is 18 months after the adoption of the general meeting of shareholders. It is unknown whether to restart the issuance of H shares in the future.
The reporter noted that Chongqing Sokon Industry Group Stock Co.Ltd(601127) refinancing was frequent. At the end of June last year, the company had just completed a fixed increase of 2.59 billion yuan. At that time, Guangfa fund, UBS AG, Chongqing strategic emerging industry equity investment fund partnership (limited partnership) and others participated in the share placement. The last fixed increase in equity investment projects included seres intelligent network new energy series model development and product technology upgrading projects, marketing channel construction projects and replenishing the company's working capital.
It is worth mentioning that Chongqing Sokon Industry Group Stock Co.Ltd(601127) has also fallen into a whirlpool of public opinion recently. On January 17, there were online rumors that the former person of a securities research institute and the quantifier of a public fund were suspected of Manipulating Securities and insider trading Huawei cooperative enterprises.
Chongqing Sokon Industry Group Stock Co.Ltd(601127) subsequently clarified that it was unaware of the above matters and did not participate in relevant violations. The company said that adhering to legal and compliant operation is the basis for sustainable, stable and healthy development. At the same time, the cooperation between the company and Huawei is normal. The company will continue to do a good job in production, operation and industrial layout, continue to focus on its main business, and continuously improve the company's core competitiveness and business performance.
