Shanghai Richeng Electronics Co. Ltd - ISO9001/IATF16949/ISO/TS22163
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Raising 2 billion, the supporting financing plan for major asset restructuring of Shangchai is highly sought after by various capitals

       Recently, the company issued the "Announcement on the Issuance Results and Equity Changes of Shanghai Diesel Engine Co., Ltd. on Issuing Shares and Paying Cash to Purchase Assets and Raising Complementary Funds and Related Transactions for Non-public Issuance of Stock Raising Complementary Funds." Since the company’s major asset restructuring project was suspended in December last year, it obtained relevant approval from the Shanghai SASAC in April 2021, and obtained relevant approval from the China Securities Regulatory Commission in July. The delivery of the underlying equity such as Shanghai Philippine Red. This major asset reorganization supporting fundraising was fully raised and successfully completed ahead of schedule, marking the completion of the entire major asset restructuring project.

   Various capitals actively participate

       According to the announcement, in addition to 3 securities investment fund management companies or qualified foreign institutional investors who do not need to pay subscription deposits, there are 22 subscription targets who have paid subscription deposits in accordance with the "Subscription Invitation". A total of 25 institutions or individuals have submitted subscription deposits. A valid purchase quotation was obtained, but in the end only 20 purchase objects successfully subscribed. The company's 2 billion major asset restructuring supporting financing plan has been enthusiastically sought after by various sources of capital.

       The issuance results show that the company issued about 222.5 million shares to 20 specific targets at a price of 8.99 yuan per share to raise 2 billion yuan. The above-mentioned shares were registered and managed in the Shanghai branch of China Securities Depository and Clearing Co., Ltd. on November 8. Procedures, the limited sale period is 6 months. Among them, Tibet Ruihuahao, which invested the most, invested 400 million yuan; Caitong Fund invested 210 million yuan, and Galaxy Securities invested 160 million yuan.

   In addition to the popularity of fixed-increasing professional households such as Tibet Ruihua, China Life Asset Management Co., Ltd., JPMORGAN CHASE BANK, NATIONAL ASSOCIATION (JP Morgan Chase Bank) also participated in the company's supporting financing. Industrial capital such as Tianrun Industrial Technology Co., Ltd., Nanjing Iron and Steel United Co., Ltd., Kailong High-tech Co., Ltd., and West Shanghai Group also actively participated in the company's supporting financing. After the completion of this supporting financing, SAIC Group remains the company’s largest shareholder with a shareholding ratio of 47.99%, Chongqing Mechanical and Electrical Holdings (Group) Co., Ltd. is the company’s second largest shareholder with a shareholding ratio of 10.77%, Tibet Ruihua and Yinhe Securities and Weifu Hi-Tech are the top five shareholders.

   Three quarterly report performance growth

   The company's 2021 third quarterly report is the first regular financial report disclosed after the reorganization. In the first three quarters of 2021, the company's operating income was 21.012 billion yuan, an increase of 8.21% over the adjusted same period last year; the net profit attributable to shareholders of listed companies was 474 million yuan, an increase of 17.19% over the adjusted same period last year; Over the same period, there was an increase of more than 200%. As of September 30, 2021, the company's total assets were 21.53 billion yuan, net assets were 7.254 billion yuan, and the return on net assets was 8.93%.

   After the completion of this issuance, the company's total assets and net assets have increased to a certain extent on the basis of the three quarterly reports, which will further lay a solid foundation for the company's high-quality development.

   Looking forward to the future is worth looking forward to

   After deducting the issuance expenses, the net proceeds of this time raised are RMB 1,980,978,763.13. The funds raised above will be mainly used for SAIC Hongyan’s “Smart Factory” project and the “New Generation Smart Heavy Truck” project. Specifically, the "smart factory" project is to carry out informatization transformation of the existing production line, use automated production robots in the workshop, and at the same time carry out the intelligent transformation of the existing workshop, to improve the automation, information and intelligence level of each production link; The "new generation of smart heavy trucks" will provide the market with future-oriented smart heavy trucks with a universal hybrid architecture and an exclusive independent architecture for the new four modernizations; the completion of the above projects will greatly increase the production capacity and output value of SAIC Hongyan. In addition to the heavy truck and diesel engine business, the company is also actively deploying new energy and other new tracks. This year, it has invested 200 million yuan in the fuel cell business to invest in Shanghai Jie Hydrogen Technology Co., Ltd., and at the same time, SAIC Hongyan established a new energy branch in Ordos. After the completion of this major asset reorganization, it will bring new opportunities to the company, which is expected to provide momentum for the company's development strategy of standardization, platformization, new energy, and intelligent networking.

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