Securities code: 688560 securities abbreviation: Crown Advanced Material Co.Ltd(688560) Announcement No.: 2022-012
Crown Advanced Material Co.Ltd(688560)
Report on the use of previously raised funds
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal responsibility for the authenticity, accuracy and integrity of its contents according to law.
According to the provisions on the report on the use of previously raised funds issued by the China Securities Regulatory Commission, Crown Advanced Material Co.Ltd(688560) (hereinafter referred to as “the company” and “the company”) will report the use of previously raised funds as of December 31, 2021 as follows:
1、 Raising and deposit of the previously raised funds
（1） The amount of funds raised last time and the time of receipt of funds
According to the reply on Approving the registration of Crown Advanced Material Co.Ltd(688560) initial public offering of shares (zjxk [2020] No. 3064) issued by China Securities Regulatory Commission, Minsheng Securities Co., Ltd., the main underwriter of the company, adopts directional placement to strategic investors Through the combination of offline inquiry and placement from qualified offline investors and online pricing issuance to social public investors holding the market value of non restricted A-Shares and non restricted depositary receipts in Shanghai market, 41022000 shares of RMB common shares (A shares) were publicly issued to the public at an issue price of 15.87 yuan per share, raising a total of 65.10191 million yuan, The raised capital after deducting the underwriting fee excluding tax of 49 million yuan was 602019100 yuan, which was remitted to the raised capital supervision account of the company by the lead underwriter Minsheng Securities Co., Ltd. on December 18, 2020. In addition, after deducting the online issuance fee, prospectus printing fee, reporting accountant fee, lawyer fee, evaluation fee and other new external expenses directly related to the issuance of equity securities of 28.7836 million yuan (including the recommendation fee of 2 million yuan paid with self raised funds in the early stage of replacement), the net capital raised by the company is 57.32356 million yuan, Among them, the over raised funds are RMB 163.2356 million. The availability of the above raised funds has been verified by Tianjian Certified Public Accountants (special general partnership), who issued the capital verification report (tianjianyan [2020] No. 3-146).
（2） Deposit of the previously raised funds in the special account
As of December 31, 2021, the deposit of the company’s previously raised funds in the bank account is as follows: amount unit: RMB 10000
Initial deposit December 2021
Deposit bank account No. amount remarks on the balance of month 31
forehead
China Industrial And Commercial Bank Of China Limited(601398) Co., Ltd. 150820032900023 20000.00 1408.98 special account for raised funds
5020 Yichun branch company
China Industrial And Commercial Bank Of China Limited(601398) Co., Ltd. 5082001341210008 transferable three-year company Yichun branch 293 3000.00 large amount certificate of deposit
[note]
China Agricultural Bank Of China Limited(601288) Co., Ltd. 1438111010400330 8000.00 2075.98 special account for raised funds
99 Yichun Branch Sales Department
China Agricultural Bank Of China Limited(601288) Co., Ltd. 1438111010400330 3000.00 2001.38 special account for raised funds
81 Yichun branch business department company
Industrial Bank Co.Ltd(601166) 505010100100230 16323.56 9171.49 special account for raised funds
Yichun branch 084
China China Everbright Bank Company Limited Co.Ltd(601818) Co., Ltd. 553701880001086 10000.00 33.63 special account for raised funds
84 Yichun branch company
Total 57323.56 17691.46
[note] as of December 31, 2021, the company used some idle raised funds to purchase transferable three-year large amount time deposit certificates
2、 Use of previously raised funds
See Annex 1 of this report for details of the use of the previously raised funds.
3、 Change of previous raised funds
The company held the 15th meeting of the 3rd board of directors and the 9th meeting of the 3rd board of supervisors on March 17, 2021, deliberated and adopted the proposal on changing some investment projects with raised funds. At the same time, on April 2, 2021, the company adopted the proposal on changing some investment projects with raised funds at the 2nd extraordinary general meeting of shareholders in 2021, The independent directors of the company have expressed their independent opinions on the above matters, and the recommendation institution has no objection to the matter. The changes of the company’s previously raised funds include: the surplus funds saved from the construction of the original project “expansion project of Cecep Solar Energy Co.Ltd(000591) battery backplane with an annual output of 30 million square meters” and “expansion project of aluminum plastic film for lithium battery with an annual output of 10 million square meters”, which are intended to be used for the construction of a new “expansion project of Poe adhesive film for PV module packaging with an annual output of 120 million square meters”, The estimated total investment of the project is 194045500 yuan, the investment amount of the proposed raised funds is 119.2459 million yuan, the proposed over raised funds is 30 million yuan, and the rest comes from the self raised funds of the company. The amount involved in this change is 149245900 yuan, accounting for 26.04% of the net funds raised in the previous time.
The specific changes of the investment projects of the company’s previous raised funds are as follows:
Monetary unit: RMB 10000
Before and after the change of raised funds
Project investment to be raised project investment to be raised project name total fund investment project name total fund investment amount
Annual output of 30 million square meters
M2 Cecep Solar Energy Co.Ltd(000591) battery 20000.00 M2 Cecep Solar Energy Co.Ltd(000591) battery 11699.00 11699.00 backplane expansion project backplane expansion project
Annual output of 10 million square meters
Square meter lithium battery aluminum plastic 8000.00 square meter lithium battery aluminum plastic 4376.41 4376.41 membrane expansion project membrane expansion project
Annual output of 120 million square meters
19404.55 14924.59 Poe film expansion project for PV module packaging
Total 28000.00 28000.00 35479.96 31000.00
The reasons for the change of the investment projects invested by the raised funds in the previous time are: the original raised investment project “expansion project of Cecep Solar Energy Co.Ltd(000591) battery backplane with an annual output of 30 million square meters” and the raised investment project “expansion project of aluminum plastic film for lithium battery with an annual output of 10 million square meters” are due to the price reduction of production equipment purchased by the company and the improvement of production equipment technology; At the same time, the company will optimize and adjust the layout of existing production workshops and warehouses to improve the utilization efficiency of plant real estate. Under the condition of maintaining the capacity of the original raised investment projects, there will be surplus investment funds for some raised investment projects.
In order to improve the use efficiency of the raised funds, the company plans to change some investment projects of the raised funds and invest in new projects with market prospects.
4、 Contents and reasons for the difference between the actual total investment of the previous fund-raising project and the commitment
Monetary unit: RMB 10000
Total actual investment undertaken before and after raising
Investment project Nuo Jinnuo investment amount difference reason amount
The annual output of 30 million square meters of tai20000.00 11699.00 9861.03 – 1837.97 project has not been completed
The lithium 8000.00 4376.41 2428.42 – 1947.99 project with an annual output of 10 million square meters has not been completed
The expansion project of Jiangxi photoelectric composite material engineering project has not been completed from 3000.00 to 3000.00 1010.09 to 1989.91
Total actual investment undertaken before and after raising
Investment project Nuo Jinnuo investment amount difference reason amount
Supplementary working capital project 10000.00 10000.00 10000.00
Permanent supplementary working capital 4500.00 4500.00
[note]
The project with an annual output of 120 million square meters of photovoltaic units has not yet completed the expansion of Poe adhesive film for package 14924.59, 12696.29 – 2228.30
Total 41000.00 48500.00 40495.83 -8004.17
[note] according to the 14th meeting of the third board of directors held by the company on February 6, 2021 The proposal on using part of the over raised funds to permanently supplement working capital deliberated and adopted at the eighth meeting of the third board of supervisors and the proposal on using part of the over raised funds to permanently supplement working capital adopted at the first extraordinary general meeting on March 1, 2021 It is agreed that the company is allowed to use the over raised capital of 45 million yuan for the company’s permanent replenishment of working capital
5、 Description of the external transfer or replacement of the investment project of the previously raised funds
The company has no external transfer or replacement of the investment projects of the previously raised funds.
6、 Description of the benefits achieved by the investment project of the previously raised funds
（1） Comparison table of realized benefits of investment projects with previously raised funds
See Annex 2 of this report for the benefits achieved by the investment projects with the funds raised last time.
（2） Description of the situation that the benefits of the investment project with the previously raised funds cannot be calculated separately
The “expansion project of Jiangxi photoelectric composite engineering technology research center” will further improve the company’s R & D capacity, optimize the R & D system, fully support the development and innovation of new products and technologies, and enhance the company’s overall competitiveness. Therefore, the project does not produce direct economic benefits, but indirect benefits to the enterprise. The completion of the project will effectively improve the existing software and hardware conditions of the company, provide strong guarantee for the company in terms of technological innovation, product design, process improvement, product performance and moisture resistance test, and further improve the company’s R & D capacity.
