证券代码：000973 证券简称：佛塑科技 公告编号：2025-50 佛山佛塑科技集团股份有限公司 关于发行股份及支付现金购买资产并募集配套资金 暨关联交易的审核问询函回复更新的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 佛山佛塑科技集团股份有限公司（以下简称公司）拟通过发行股份及支付现 金的方式向袁海朝、北京华浩世纪投资有限公司等 102 名交易对方购买其合计所 持有的河北金力新能源科技股份有限公司 100%股份，并向公司控股股东广东省 广新控股集团有限公司发行股份募集配套资金（以下合称本次交易）。 公司于 2025 年 6 月 24 日收到深圳证券交易所出具的《关于佛山佛塑科技集 团股份有限公司发行股份购买资产并募集配套资金申请的审核问询函》［审核函 〔2025〕130007 号］（以下简称《审核问询函》），并于 2025 年 7 月 23 日披 露了《关于佛山佛塑科技集团股份有限公司发行股份购买资产并募集配套资金申 请的审核问询函的回复》（以下简称问询函回复）等文件。 根据深圳证券交易所的进一步审核意见，公司对问询函回复进行了修订、补 充 ...

证券代码：000973 证券简称：佛塑科技 公告编号：2025-51 佛山佛塑科技集团股份有限公司 关于发行股份及支付现金购买资产并募集配套资金暨关联 交易报告书（草案）修订说明的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 佛山佛塑科技集团股份有限公司（以下简称公司）拟通过发行股份及支付现 金的方式向袁海朝、北京华浩世纪投资有限公司等 102 名交易对方购买其合计所 持有的河北金力新能源科技股份有限公司 100%股份，并向公司控股股东广东省 广新控股集团有限公司（以下简称广新集团）发行股份募集配套资金（以下合称 本次交易）。 团股份有限公司发行股份购买资产并募集配套资金申请的审核问询函》［审核函 〔2025〕130007 号］，并于 2025 年 7 月 23 日披露了《佛山佛塑科技集团股份 有限公司发行股份及支付现金购买资产并募集配套资金暨关联交易报告书（草案） （修订稿）》［以下简称草案（修订稿）］等文件。 根据深圳证券交易所的进一步审核意见，公司对草案（修订稿）进行了修订、 补充及完善，并于 2025 年 9 月 3 日披露了《佛山佛塑科技集团 ...

Group 1 - The core transaction involves Foshan Fospower Technology Group Co., Ltd. issuing shares and paying cash to acquire 100% of Hebei Jinli New Energy Technology Co., Ltd. and raising supporting funds [1][10] - The total transaction price for the acquisition is set at 508 million yuan, with 40 million yuan allocated for cash payment and 60 million yuan for working capital and debt repayment [8][9] - The transaction is structured as a combination of share issuance and cash payment, which are interdependent components of the deal [8][10] Group 2 - The acquisition is expected to enhance the company's position in the high polymer functional film materials sector, particularly in the lithium battery separator market, which aligns with the company's strategic focus on new materials [10] - The deal will allow the company to leverage Jinli's customer resources to penetrate the electric vehicle and energy storage markets more effectively [10] - The performance commitment includes achieving net profits of no less than 230 million yuan, 360 million yuan, and 610 million yuan for the years 2025, 2026, and 2027 respectively [7][10]

Core Viewpoint - Foshan Fushuo Technology Group Co., Ltd. is undergoing a share issuance to acquire assets and raise supporting funds, with a focus on the valuation of land use rights and intangible assets, indicating significant potential for asset appreciation and investment opportunities [1][2]. Group 1: Asset Valuation - The asset-based valuation method indicates an increase in intangible assets by 328 million yuan, with a growth rate of 210%, including land use rights and other intangible assets [1]. - The land use rights have a book value of 152.08 million yuan and an assessed value of 221.49 million yuan, resulting in an appreciation of 69.41 million yuan, or 45.64% [2]. - The total book value of land use rights for the company and its subsidiaries is 307.24 million yuan, with an assessed value of 443.68 million yuan, leading to an appreciation of 136.44 million yuan, or 44.41% [2]. Group 2: Valuation Methodology - The valuation employs both the asset-based method and the income method, with the asset-based method's results serving as the pricing basis [1]. - The assessment process for land use rights includes consideration of market conditions, recent land transaction prices, and the rationale behind the valuation parameters [2][5]. - The market comparison method was utilized, with specific comparable cases selected based on similar use, scale, and development level, ensuring the reliability of the valuation [6][7]. Group 3: Future Performance and Market Conditions - The company is required to disclose the rationale for the valuation results based on the stability of future earnings, industry cycles, and expected changes in terminal demand [2]. - The assessment also considers the competitive landscape and technological changes within the industry, which may impact the valuation and future performance of the assets [2].

Core Viewpoint - The legal opinion letter from Beijing Dacheng Law Firm confirms the compliance and necessity of Foshan Fospower Technology Group Co., Ltd.'s acquisition of 100% equity in Hebei Jinli New Energy Technology Co., Ltd. through share issuance and cash payment, along with the fundraising for this transaction [1][2]. Group 1: Transaction Overview - Foshan Fospower plans to acquire 100% of Hebei Jinli New Energy's shares from 102 counterparties, including Yuan Haichao and Huahao Century [1]. - The transaction aims to enhance Foshan Fospower's position in the lithium battery separator sector, thereby enriching its product portfolio in the new energy field [8][9]. Group 2: Legal Compliance and Financial Impact - The transaction is structured to comply with the "Major Asset Restructuring Management Measures" and is expected to improve the asset quality and operational sustainability of Foshan Fospower without causing significant adverse changes to its financial status [8][10]. - The acquisition is anticipated to create synergies between Foshan Fospower and Hebei Jinli, enhancing bargaining power with suppliers and reducing procurement costs [9][11]. Group 3: Investor Protection Measures - Foshan Fospower has established measures to mitigate the dilution of immediate returns for shareholders, including effective integration of the acquired company and a commitment to transparent profit distribution policies [12][13]. - The company has received commitments from its controlling shareholders and management to ensure the fulfillment of measures aimed at protecting shareholder interests during the restructuring process [13][14]. Group 4: Compliance with Industry Policies - The legal opinion confirms that the production and operational activities of the acquired assets align with national industrial policies, and there are no significant environmental or safety risks associated with the projects [15][16]. - The projects under Hebei Jinli have obtained the necessary approvals and are not classified as high-risk or high-pollution, ensuring compliance with relevant regulations [15][18].

Core Viewpoint - Foshan Fospower Technology Group Co., Ltd. plans to acquire 100% of Hebei Jinli New Energy Technology Co., Ltd. to enter the lithium battery separator market, enhancing its position in the polymer film materials sector and addressing the growing demand in the new energy field [1][10][13]. Group 1: Transaction Rationale - The acquisition allows the company to leverage synergies in the polymer film materials industry, as both companies operate in similar sectors, enhancing supply chain stability and reducing procurement costs [10][14]. - The target company has faced losses due to high depreciation costs from new production lines and increased financial expenses, but it is expected to return to profitability in 2025 [22][23]. - The transaction aligns with national policies promoting mergers and acquisitions to enhance industrial integration and efficiency [10][12]. Group 2: Financial Performance of Target Company - In 2024, the target company reported a revenue of approximately 2.64 billion yuan, with a net loss of about 91.44 million yuan, primarily due to increased depreciation and financial costs [22][24]. - The gross margin decreased from 37.72% in 2023 to 21.85% in 2024, reflecting the impact of rising costs and operational challenges [22][24]. - The target company has shown signs of recovery, achieving profitability in the first half of 2025, supported by stable customer resources and strong technical capabilities [23][24]. Group 3: Market Demand and Supply Dynamics - The global lithium battery market is projected to grow significantly, with a forecasted output of 1,545.1 GWh in 2024, representing a year-on-year increase of 28.5% [24][26]. - The demand for lithium battery separators is expected to rise, driven by the growth of electric vehicles and renewable energy storage solutions [25][26]. - The industry is characterized by high entry barriers, with established players maintaining high capacity utilization rates, leading to improved supply-demand dynamics [27]. Group 4: Integration and Management Plans - Post-acquisition, the target company will operate as a subsidiary, with plans for integrated management to ensure operational stability and enhance competitive advantages [19][21]. - The company will implement a unified financial management system to optimize resource allocation and improve operational efficiency [19][20]. - The integration strategy includes maintaining the target company's existing management structure while enhancing collaboration in R&D and production processes [19][21].

Core Viewpoint - Foshan Fospower Technology Group Co., Ltd. has responded to the inquiry letter regarding the issuance of shares for asset acquisition and fundraising, providing detailed explanations of the operational and financial status of the target assets, which serves as an important reference for investors to understand the major asset restructuring situation [1] Group 1: Operational Status of Target Assets - The target company has 19 existing production lines and 18 new production lines that have been put into operation, with 10 additional lines under construction by the end of 2024, resulting in a total production capacity of approximately 5 billion square meters [2] - The overall capacity utilization rate remains above 80%, indicating no obsolete capacity, and the expansion is aimed at addressing previous capacity shortages due to the growing demand in the downstream new energy lithium battery industry [2] - The sales model includes direct sales, with consignment and non-consignment modes, where major clients include CATL, BYD, and EVE Energy, with reasonable differences in sales price and gross margin due to product structure and market price factors [2] - The company has established stable cooperation with major lithium battery manufacturers, and the concentration of clients is reasonable given the high concentration in the downstream industry, minimizing the risk of being replaced [2] Group 2: Financial Status of Target Assets - The accounts receivable have shown good recovery post-period, with overdue accounts receivable decreasing year by year, and the provision for bad debts is consistent with industry averages [3] - Inventory aging is primarily within one year, with good post-period liquidation rates, and the provision for inventory impairment is adequately accounted for [3] - Despite a projected loss in 2024, the net cash flow from operating activities remains positive and is growing, with sufficient credit limits to cover funding needs, indicating no significant adverse impact on liquidity and ongoing operations [3] Group 3: Performance and Forecast - The actual performance from January to June 2025 aligns closely with the forecast data, indicating that post-evaluation operating performance will not adversely affect the transaction assessment and pricing [4] - Revenue forecasts are based on existing orders and industry developments, with stable price expectations, considering industry cycles, technology, and competitive landscape [4] - The gross margin is expected to decline during the reporting period but is projected to increase in the forecast period, taking into account raw material price fluctuations and supplier stability [4]

Group 1 - The core point of the news is that Foshan Plastics Technology (佛塑科技) plans to acquire 100% of Jinyi Co., Ltd. (金力股份) for a total consideration of 5.08 billion yuan, enhancing its position in the lithium battery separator market and improving supply chain stability [2] - The acquisition will allow Foshan Plastics to leverage Jinyi's advanced lithium battery separator production technology and expand its product offerings in the new energy sector [3][4] - Jinyi has shown significant growth, with sales reaching 2.011 billion square meters in the first half of 2025, a year-on-year increase of over 90%, and achieving revenue of 175.35 million yuan and a net profit of 10.58 million yuan [3] Group 2 - The production capacity utilization rate for Jinyi is projected to be 82.35% in 2024, indicating strong demand and operational efficiency [4] - The top enterprises in the lithium battery separator industry have a capacity utilization rate above 80%, with the market share of the top 8 companies expected to increase from 65% in 2017 to 86% by 2024 [4] - The strategic integration of Foshan Plastics and Jinyi is expected to enhance production efficiency, reduce costs, and strengthen their competitive position in the global separator industry [4]

佛山佛塑科技集团股份有限公司 关于佛山佛塑科技集团股份有限公司发行股份 购买资产并募集配套资金申请的审核问询函的 回复（修订稿） 独立财务顾问 签署日期：二〇二五年九月 深圳证券交易所上市审核中心： 佛山佛塑科技集团股份有限公司（以下简称"上市公司""公司"或"佛塑 科技"）于 2025 年 6 月 24 日收到深圳证券交易所上市审核中心下发的《关于佛 山佛塑科技集团股份有限公司发行股份购买资产并募集配套资金申请的审核问 询函》[审核函〔2025〕130007 号]（以下简称"审核问询函"）。公司及相关中 介机构就审核问询函所提问题进行了认真讨论分析，并按照要求在《佛山佛塑科 技集团股份有限公司发行股份及支付现金购买资产并募集配套资金暨关联交易 报告书（草案）》（以下简称"重组报告书"）中进行了补充披露，现将相关回 复说明如下。 如无特别说明，本审核问询函回复中的简称或名词释义与重组报告书所定义 的词语或简称具有相同的含义。在本审核问询函回复中，若合计数与各分项数值 相加之和在尾数上存在差异，均为四舍五入所致。本审核问询函回复所引用的财 务数据和财务指标，如无特殊说明，指合并报表口径的财务数据和根据该类财务 ...

华泰联合证券有限责任公司 关于佛山佛塑科技集团股份有限公司发行股 份及支付现金购买资产并募集配套资金暨关 联交易申请的 审核问询函回复之专项核查意见 独立财务顾问 如无特别说明，本审核问询函回复中的简称或名词释义与重组报告书所定义 的词语或简称具有相同的含义。在本审核问询函回复中，若合计数与各分项数值 相加之和在尾数上存在差异，均为四舍五入所致。本审核问询函回复所引用的财 务数据和财务指标，如无特殊说明，指合并报表口径的财务数据和根据该类财务 数据计算的财务指标。 | 审核问询函所列问题 | 黑体（加粗） | | --- | --- | | 审核问询函所列问题的回复、对重组报告书的引用 | 宋体 | | 对重组报告书、审核问询函的修改、补充 | 楷体（加粗） | 2-1 | 目 录 … | | --- | | 问题一：关于本次交易的产业逻辑 …………………………………………………………………………………………………………… 3 | | 问题二：关于标的资产生产经营情况 . | | 问题三：关于标的资产财务状况 . | | 问题四:关于资产基础法评估 | | 问题五：关于收益法评估 | | 问题六:关于本次交易 ...