abugarcia7000ic3| Ruilian New Materials welcomes Qingdao's state-owned assets and plans to increase production by 815 million yuan to the "new owner"
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May 10th, Swiss Union New material (688550)Abugarcia7000ic3.SH) disclose 30 announcements in one breath, involving the change of control, additional issuance and other matters.
According to the announcement, the venture capital group transferred 1056 of the shares held by the shareholders of the listed company Zhuoshi partnership, Guofu Yongyu and Liu Xiaochun by agreement.Abugarcia7000ic3.49 million shares, 4.569 million shares, 686000 shares of the company. After the completion of the transfer of the agreement and the delegation of voting rights, the proportion of voting rights owned by the investment group will reach 23.81%, the controlling shareholder of the company will be changed to the investment group, and the actual controller will be changed to the state-owned assets management bureau of Qingdao west coast new area. The company's shares will resume trading on May 13.
Swiss Union New Materials announced on the same day that it intends to raise no more than 815 million yuan from the Capital Investment Group for the OLED pre-sublimation materials and high-end fine chemicals industry base project and supplementary liquidity.
It is worth mentioning that the above fundraising project itself is a 1 billion yuan convertible bond project held by Credit Suisse at the end of last year, but the project was only recorded as a "suspension of consideration". At the beginning of this year, the progress of the project showed that it had been cancelled by the board of directors of listed companies.
The investment details of the above-mentioned fund-raising projects are the same as before. The project is implemented by Dali Ruilian, a wholly owned subsidiary of the company. the location of the project is located in the Economic and technological Development Zone of Dali County, Weinan City. the construction period of the project is 42 months. It is planned to build five new production workshops and their supporting engineering and service facilities for the production of OLED pre-sublimation materials and intermediates, pharmaceutical intermediates, photoresist and other electronic chemicals. The after-tax financial internal rate of return is 20.76%, and the payback period of the project after-tax investment is 6.56 years (including the construction period).
When the convertible bond proposed that the project was "suspended", the on-site inquiry of the regulator was mainly aimed at the certainty of the investment project and the digestion of the new production capacity. The regulator requires the company to explain whether the relevant decision-making procedures are complete and whether there is significant uncertainty in the fund-raising project in the light of the main terms of the issuance plan.Abugarcia7000ic3Combined with the market competition pattern of related products, downstream market demand, product market share, capacity utilization rate, gross profit margin, etc., explain the measures and feasibility of capacity digestion of fund-raising projects.
It is not only this fundraising project that has been regulated. The previous fund-raising investment project of Ruilian Xincai also has the risk of implementation and the project benefit does not meet the expectations.
In addition, Ruilian Xincai also issued an announcement on the evening of May 10 on the 2024 restricted stock incentive plan. The incentive program awarded a total of 120 people, accounting for about 7.22% of the company's total employees (as of December 31, 2023) of 1663 people. The source of the underlying stock involved is the A-share common shares of the company issued by the company to the incentive target; the number of restricted shares to be granted is 6.713 million, accounting for 4.98% of the total share capital of the company on the date of announcement of the draft incentive plan. Among them, the number of restricted shares granted to directors, senior managers and core technical personnel is 2.8452 million, accounting for 42.38% of the total and 2.11% of the total share capital on the date of announcement of this incentive plan.
The latest (April 30) closing price of Ruilian Xinlian was 36.12 yuan per share, which has fallen 34% from the issue price after the resumption of rights.