Ningbo Sunrise(SZ:002937)2023-07-21 08:17Fundraising and Investment Purpose - The total amount of funds raised from the issuance of convertible bonds is expected to be no more than RMB 462 million, which will be fully allocated to the construction of new energy vehicle parts production projects [2][3] - The fundraising aims to accelerate the company's strategic layout, expand production capacity, and enhance market share and core competitiveness [2][3] Project Details - The total investment for the new energy vehicle parts production project is RMB 572.63 million, with a construction period of 24 months [3] - The project is located in the Cixi High-tech Industrial Development Zone, and upon completion, it will increase the production capacity of new energy vehicle battery components [3] Capacity and Production Layout - The company has six major production bases both domestically and internationally, with the Cixi base's total investment increased from RMB 392.93 million to RMB 662.60 million [3] - The Cixi base is expected to increase production capacity by 40-50% beyond the original plan, with production anticipated to commence in the first half of 2024 [3] Financial Performance and Projections - The project is expected to achieve an annual operating income of RMB 1.0296 billion and a total annual profit of RMB 110.63 million, with an internal rate of return of 17.13% after tax [4] - The payback period for the investment, including the construction period, is estimated to be 6.77 years [4] Market Demand and Client Relationships - The company has secured supply agreements with key clients in the new energy vehicle industry, with expected average annual sales exceeding RMB 1.2 billion over five years post-production [5] - The stable relationships with clients are crucial for the company's future growth in the new energy vehicle sector [5] Convertible Bond Issuance Details - The convertible bonds will be issued in a total quantity of 4,620,000, with a maturity period of six years from July 24, 2023, to July 23, 2029 [3][6] - The coupon rates for the bonds are set at 0.2% for the first year, increasing to 2.5% by the sixth year [6] Shareholder Information - The actual controllers and major shareholders hold a combined 38.33% of the company's total shares, with commitments to participate in the bond issuance [7] - The company aims to leverage the bond issuance to strengthen its main business and create more value for shareholders [7]