江天科技募投项目信息与公开报道存在矛盾，原材料数据存疑

Core Viewpoint - Jiangtian Packaging Technology Co., Ltd. is preparing for an IPO, focusing on the construction of an intelligent production line for packaging printing products, with a total investment of approximately 503.07 million yuan [1][2] Group 1: IPO and Investment Details - The main project for the IPO is the construction of an intelligent production line, with a planned investment of 503.07 million yuan in Suzhou, Jiangsu Province [1] - The project aims to add an annual production capacity of approximately 81.29 million square meters of label products, with a financial internal rate of return of 17.12% (after tax) and a payback period of 10.09 years [1] - Previous reports indicated a total investment of 500 million yuan for the project, aligning with the current IPO disclosures, but there is a discrepancy in the planned construction area [1][2] Group 2: Production Capacity and Financials - After reaching full production, the project is expected to generate an annual output value exceeding 1.5 billion yuan, implying a product price of nearly 20 yuan per square meter, which significantly deviates from the current price range of 5 to 8 yuan [2] - From 2022 to 2024, the company’s procurement of film-based adhesive materials was 134.17 million yuan, 188.24 million yuan, 204.50 million yuan, and 124.60 million yuan, with corresponding procurement prices decreasing over the years [4] - The production capacity is projected to grow from 46.01 million square meters in 2022 to 81.35 million square meters in 2024, nearly doubling, while fixed assets related to production have not shown significant growth [5]