Stock abbreviation: Chongqing Sokon Industry Group Stock Co.Ltd(601127) Stock Code: 601127 Chongqing Sokon Industry Group Stock Co.Ltd(601127)
Application of funds raised by non-public offering of shares
Feasibility analysis report
January, 2002
1、 Use plan of the raised funds
The total amount of funds raised in this non-public offering is expected to be no more than 7130 million yuan (including this amount). The net amount of funds raised after deducting the issuance expenses is proposed to be invested in the following projects:
Unit: 10000 yuan
No. project name total investment amount proposed investment amount of raised funds
1 electric vehicle development and product platform technology upgrading project 4795 431000
2 plant intelligent upgrading and electric drive production line construction project 63320 61000
3 User Center construction project 22660 21000
4. Supplementary working capital project 200000 200000
Total 760775 713000
If the actual raised funds cannot meet the needs of the above-mentioned purposes of raised funds, the board of directors of the company will, within the scope of the above-mentioned investment projects with raised funds, according to the actual situation of the progress of the investment projects with raised funds and capital requirements, based on the actual net amount of raised funds and on the premise of complying with relevant laws and regulations, Adjust and finally determine the specific investment projects of the raised funds and the specific investment amount of each project. The insufficient part of the raised funds shall be solved by the company with its own funds or through other financing methods.
If the company uses self raised funds to invest in the raised funds projects before the raised funds of this issuance are in place, the part invested in advance will be replaced with the raised funds after the raised funds of this issuance are in place.
2、 Analysis on the investment projects of the raised funds
(I) electric vehicle development and product platform technology upgrading project
1. Project overview
The total investment of the project is 4747.95 million yuan, including the development of six electric vehicle models, the upgrading of de-i platform and the R & D and upgrading of a series of product technologies.
Among them, 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.
2. Project implementation subject
The implementation subjects of the project include four subsidiaries: Chongqing Jinkang sailis New Energy Vehicle Design Institute Co., Ltd., Dongfeng Xiaokang Automobile Co., Ltd., Chongqing Jinkang Power New Energy Co., Ltd. and Chongqing Xiaokang Power Co., Ltd. After the raised funds are received, the company plans to implement the raised investment project by increasing capital or providing shareholder loans.
3. Necessity of project construction
(1) Comply with the development trend of the industry and upgrade the electric vehicle platform
With the vigorous development of the new energy vehicle industry, the exclusive platform for electric vehicles has become the focus of most vehicle enterprises, and the development of special platforms has gradually occupied the mainstream of future technology. Compared with the fuel vehicle platform, the advantages of the electric vehicle platform are mainly reflected in compatibility and expansibility. In terms of compatibility, the electric vehicle platform can be compatible with more models; In terms of scalability, the electric vehicle platform has an advanced electronic and electrical architecture, which can better support the expansion of functions such as intelligent networking, automatic driving and online upgrading. Only by continuously upgrading the electric vehicle platform can we better meet the requirements of electric technology and give full play to the advantages of electric drive.
As a big country in the new energy vehicle industry, China leads the world in the sales of electric vehicles every year, and the growth trend is obvious. In this context, in recent years, many independent brand enterprises in China have developed their own electric vehicle platforms. In order to comply with the development trend of new energy vehicle industry, the company plans to further upgrade the de-i platform technology through this project, enhance the company's core competitiveness, and contribute to promoting the popularization of electric vehicles and the healthy development of electric technology in China.
(2) Further improve the SUV product series to cover more consumer groups
In recent years, with the rapid rise of new forces in vehicle manufacturing and the participation of traditional vehicle enterprises, the competition in the new energy vehicle market has become more and more fierce, and the models launched every year have been enriched. In this context, the company has continued to increase investment in research and development of new energy vehicles in recent years, and has successfully launched a number of new energy vehicle models. As an SUV star product of the company, Thales Huawei smart selected sF5, which has received extensive attention from consumers since its listing, achieved good market performance and enjoyed high market reputation; With the launch of AITO M5, the company's product series has been further enriched. However, compared with advanced enterprises in the industry, the company's current new energy vehicle models are not rich enough, and there is still a certain gap between the model layout and competitors. Therefore, the company plans to upgrade the existing models and develop new series models through this project. With the continuous enrichment of the company's product series, the gradual improvement of the price gradient and the gradual transformation of R & D achievements, the company's SUV products will cover more consumer groups, and the market share is expected to be further improved.
(3) Comply with the mainstream trend of automotive technology development and carry out forward-looking technology research and development
At present, a new round of global scientific and technological revolution and industrial reform are booming. The integration of automobile and related technologies in the fields of energy, transportation, information and communication has accelerated. Electrification, intelligence and networking have become the development trend and trend of the automobile industry. New energy vehicles integrate a variety of transformative technologies such as the Internet, big data and artificial intelligence, promote the transformation of vehicles from simple means of transportation to intelligent terminals, energy storage units and digital space, drive the transformation and upgrading of energy, transportation and information and communication infrastructure, and promote the optimization of energy consumption structure and the improvement of intelligent transportation system and urban operation, It is of great significance to build a smart and environmentally friendly city. In order to comply with the mainstream trend of technology development in the automotive industry, the company must start a series of forward-looking technology research and development. Focusing on the development trend of electrification, intelligence and networking of new energy vehicles, the project plans to carry out the research and development of key technologies such as intelligent cockpit, intelligent networking, automatic driving and electronic and electrical architecture.
4. Feasibility of project construction
(1) The project has broad market space
New energy vehicles are a national strategic emerging industry. The development of new energy vehicles is an important path for China's automobile industry to solve the "double carbon goal". On November 2, 2020, the general office of the State Council officially issued the development plan for new energy vehicle industry (2021-2035), and by 2025, the sales of new energy vehicles will reach about 20% of the total sales of new vehicles. In the next five years, the sales volume of new energy vehicles will continue to maintain rapid growth.
In October 2021, JPMorgan Chase released a report optimistic about the prospects of the Shanxi Guoxin Energy Corporation Limited(600617) automobile market. The report pointed out that 35% of China's automobile sales will come from new energy vehicles in 2025, and the annual sales of Shanxi Guoxin Energy Corporation Limited(600617) vehicles will exceed 10 million by 2025. High end intelligent electric passenger vehicles will grow explosively from 2022 to 2025. The company will seize the market opportunity to promote the transformation and upgrading of the company and high-quality development.
In recent years, among the segments of Shanxi Guoxin Energy Corporation Limited(600617) automobile market, the segment of intelligent electric vehicle 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.
(2) The company has strong independent innovation ability
The company has set up a well-off science and technology center with Chongqing, China as its headquarters. At the same time, it has established an independent research and innovation center in the United States, established a global talent and technology reserve, and attracted global elites who have served well-known automobile brands and famous science and technology companies for a long time; A number of technological innovations have been made in the fields of electric drive, intelligent interconnection and automatic driving; With its vehicle integration capacity and production capacity, it ensures product quality and safety, and is committed to providing global users with high-performance intelligent electric vehicles and pleasant intelligent driving experience, so as to promote the accelerated development of new energy vehicle industry.
Xiaokang science and technology center has the ability of innovation, science and technology and top design, and has reached the mainstream level of independent research and development in China. The company has built a modeling center, covering an area of more than 6000 square meters, which can accommodate more than 1000 people. It has dozens of modeling professional equipment and complete modeling design professional software, and has the whole process ability of independent modeling, design and verification; Covering the whole modeling design process from forward-looking design to full-size vehicle model production, it has the annual design and production capacity of 4 vehicles, 5 modified models and 3 hard verification models. The well-off science and technology center has invested more than 5 billion yuan in R & D.
The company is committed to the research and development of high-end intelligent electric vehicles and has a complete vehicle development process svdp, which is divided into 5 stages, 22 nodes and 553 first-class deliverables, including the whole process of product and platform preliminary planning, conceptual design, engineering design, design verification, small batch trial production and so on. The company has established a global R & D Organization for new energy vehicles, made full use of the regional advantages of international and Chinese innovation centers, integrated advanced technology resources and formed a systematic R & D capability.
(3) The company has rich core technology reserves
In terms of vehicle electrification, the company has cultivated and formed core technologies such as electronic control and electric drive with independent intellectual property rights, as well as differentiated intelligent extended range technologies in line with China's national conditions. The company has formed the core competitiveness of electrification and has more than 1000 global patents in this field. The 1.5T turbocharged four cylinder range extender developed by the company can generate power under the optimal conditions, with an ultra-high compression ratio of 15:1, an EGR utilization rate of 20-30% and an optimal thermal efficiency of 41%; The company has developed 250KW AC asynchronous motor with excellent acceleration and high-speed performance, and combined it with permanent magnet synchronous motor to form an excellent drive system integrating performance and efficiency; The pure electric drive extended range platform de-i released by the company on December 2, 2021 is highly modular and extensible, and can cover full-size cars, SUVs and MPV models. It is at the leading level in integrated intelligent generator set, driving technology, battery pack, intelligent control, etc.
The industry-leading E / E architecture integrates vehicle domain control, autopilot domain control, cockpit domain control, power domain control and high-speed communication gateway. Its core is a central computing platform, which integrates vehicle control unit, autopilot domain controller, intelligent cockpit domain controller and high-speed Ethernet gateway. E / E architecture covers the following advanced technologies, architectures and platforms: 1) Central Ethernet gateway with high-speed communication gateway as the switching core; 2) High performance communication unit with 100m ~ 1000m high-speed Ethernet and canfd communication; 3) Fully support the realization of the advanced architecture of vehicle OTA and the next generation "software defined vehicle"; 4) High information security and driving safety; 5) The intelligent power management unit can automatically match the power management according to different working conditions; 6) The software and hardware platform supports the next generation of functions, such as advanced automatic driving, intelligent cockpit, intelligent network connection and vehicle road coordination (v2x) communication; 7) Highly integrated vehicle domain control greatly reduces the number of vehicle controllers, effectively saves development costs, accelerates the introduction of new models and brings users better automotive products. With the above advanced technology architecture and platform, E / E architecture can achieve a high degree of scalability and flexibility, and realize safe and efficient wireless update of the whole vehicle. E / E architecture can make vehicles better adapt to the era of intelligent electric vehicles, and support the development of multiple models at the same time. At present, the architecture has been applied to a variety of models in the company's mass production and development.
In terms of Ota platform, the company independently designed, developed, tested and built an advanced automobile OTA management platform. With the improved E / E architecture, the company further strengthens the domain control unit to improve the OTA function. The company has mastered the advanced SOTA and FOTA technology, so that the company's intelligent electric vehicles can be upgraded rapidly in the whole vehicle life cycle, so that the company's users can enjoy the trend functions and improved user experience. OTA update increases user participation by providing users with the latest technology of the company, far exceeding the initial delivery, and helps to improve user loyalty.
(4) The company has rich experience in R & D and testing
In order to ensure the performance and reliability of product development, the company has established a new energy special trial production, test and detection capability platform covering an area of about 25000 square meters. Including hardware facilities such as vehicle 4WD environmental emission laboratory, vehicle road simulation laboratory, vehicle semi silencing laboratory, multi motor performance test laboratory, three comprehensive test bench, body stiffness test, reliable and durable drum, system parts test laboratory and so on; At the same time, it has the conditions for the trial production of the whole vehicle, such as sheet metal production, BIW Welding, finish paint spraying, whole vehicle assembly, battery pack, motor assembly test, VCU trial production, whole vehicle detection line, IP67 wading test, whole vehicle electrical network test platform, charging facilities, etc., and has the trial production capacity of more than 100 sets per month; And simultaneously build the detection and verification capabilities of intelligent driving, reliability, durability, adaptability and performance test.
The company has gradually completed the construction of R & D functional areas such as modeling, analysis, testing, trial production of complete vehicles and three electricity, comprehensive road experience, performance test, intelligent network test, product display and release, ability training and employee creativity, reaching the mainstream level of independent R & D in China. In terms of inspection and test, three unified performance verification means of "vehicle level, system level and key parts level" are formed to improve development verification and quality inspection
