SMM5 March 7: Dazhi Technology said that the company plans to issue RMB common shares to no more than 35 specific targets, including Hengling Power, the number of shares shall not exceed 30% of the total share capital of the company before the non-public offering, that is, no more than 31.6827 million shares (including capital), and the total amount of funds raised shall not exceed 1.073 billion yuan (including capital), of which Hengling Power shall subscribe for no less than 400 million yuan (including capital).

The funds raised will be invested in the "Lithium Ion Power Battery (2.4GWh) Construction Project" and "High performance Power Battery Research and Development Center Project", with an investment of 570 million yuan and 503 million yuan respectively.

Among them, the lithium power battery (2.4GWh) construction project plans to build an annual capacity 2.4GWh lithium power battery production line in Hengyang, Hunan province. The products are mainly lithium power batteries based on MEB platform, and the main technical route is square aluminum shell power batteries with laminated high nickel silicon carbon system. The products will be used in new energy electric vehicles, energy storage and other related fields.

The construction period of the project is 11 months. After reaching production, it is estimated that the average annual sales income is 1.67409 billion yuan, the average annual pre-tax profit is 240.03 million yuan, the investment payback period (after tax) is about 6.25 years (including the construction period), and the internal rate of return (after tax) is 20.75%.

It is understood that Wang Lei, the controller of Dazhi Technology, is the spouse of Weimar Motor CEO Shenhui and one of Weimar's core figures. He holds a 11.73% stake in Weimar Wisdom Travel and serves as a supervisor at Weimar Motors.

In September 2019, Wang Lei accepted a 16.68% stake in Dazhi Technology through the establishment of Hengpa Power, and obtained 41.2% of the voting rights of listed companies.

In early 2020, Dazhi Technology signed an equity grant agreement with Shanghai Lingpa, under which the listed company freely transferred 80% of the shares held by Shanghai Lingpa in Hunan Xinminya and Sichuan Xinminya.

At the end of April, the listed company again signed an equity transfer agreement with Shanghai Lingpa, intending to transfer 20% of the shares of Xinminya in Hunan and 20% in Sichuan. Upon completion of the equity changes, the two companies will become wholly owned subsidiaries of listed companies.

Dazhi Technology said that at present, the company's main business is the research and development, production and sales of new environmental protection surface engineering chemicals, as well as new energy power battery business. The company's surface engineering chemicals business has a certain scale and market share, in the forefront of market segmentation. However, the surface engineering chemicals business industry of the company has a high degree of marketization and fierce competition, and the long-term rapid growth is faced with certain challenges. In order to seek new profit growth points and maximize shareholder value, the company has invested in lithium-ion power battery (2.4GWh) project construction and high-performance power battery R & D center project, which is the company's implementation of new energy power battery business development strategy and measures to enhance the company's comprehensive competitiveness, which is conducive to enhancing the long-term risk resistance.

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