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On the evening of June 22, Kangda New Materials released the "Feasibility Report on the Use of Convertible Bonds": The total amount of funds raised in this convertible bond will not exceed RMB 750 million.
After deducting the issuance costs, it will invest in the "Fengnan District of Tangshan" Kangda Chemical New Material Co.
, Ltd.
30,000 tons/year adhesive and upstream and downstream new materials project", "Fujian Kangda Xinyu New Material Co.
, Ltd.
Annual Production 30,000 tons of adhesive new material series product project" and supplementary working capital, specific conditions as follows:
(1) Tangshan Fengnan District Kangda Chemical New Material Co.
, Ltd.
30,000 tons/year adhesive and upstream and downstream new materials project
1.
Project investment estimate: The total investment of this project is 505,698,300 yuan, of which construction investment is 459,323,200 yuan, construction period interest is 17,887,300 yuan, initial working capital is 28,487,800 yuan, and it is planned to use raised funds of 300 million yuan;
2.
Project construction site: Chemical Industry Park, Fengnan Economic Development Zone, Tangshan City, with a construction period of 2 years;
3.
Expected benefits of the project: The annual sales income is 633,046,800 yuan (excluding tax), and the annual net profit is 51,121,900 yuan
.
(2) Fujian Kangda Xinyu New Material Co.
, Ltd.
annual production of 30,000 tons of adhesive new material series product project
1.
Project investment budget: The total investment of this project is 526,709,600 yuan, of which construction investment is 492.
5656 million yuan, construction period interest is 19.
1781 million yuan, initial working capital is 14.
9659 million yuan, and 300 million yuan is planned to be used to raise funds;
2.
The construction site of the project is Jintang Industrial Park, Shaowu City, Nanping City, Fujian Province;
3.
Expected benefits of the project: The annual sales income is RMB 728,046,800 (excluding tax), and the annual net profit is RMB 73,210,100
.
Adhesive industry has great development prospects
Kangda New Materials said: The domestic adhesive industry closely follows the national development strategy and grows steadily.
With the strong demand for adhesives in high-end areas such as new energy, prefabricated buildings, infrastructure real estate, and 5G consumer electronics, it promotes the functionalization and high-endization of products in the adhesive industry.
The field of application continues to expand, and the industry has a bright future .
Supply exceeds demand, and capacity bottlenecks become obstacles to the company's development
In the past three years, the capacity utilization rate of Kangda's new material adhesive products has approached 100%, and the production equipment is basically at full capacity
.
The company uses its own funds to invest in production equipment and technological transformation, and expand the production of adhesives, but it still cannot meet future customer orders
Solve the "stuck neck" problem of key raw materials
One of the main reasons for the performance difference of domestic and foreign adhesives is the problem of raw materials.
The key raw materials of high-end products are often only controlled by foreign companies.
Both in terms of supply stability and price, they are controlled by foreign customers, which directly cause the high-end product field to be A situation monopolized by foreign adhesive companies
.
Through the construction of this project, the production and construction of modified special epoxy resin and modified polyester will solve the problem that these two types of key raw materials are restricted by foreign suppliers, and improve the performance and price advantages of products from the aspects of cost and stable mass production of products.
Provide raw material guarantee for China's high-end adhesive products
.
Consumption of epoxy resin for 60,000 tons of adhesive project
In 2020, the annual purchase amount of Kangda New Materials is 1.
189 billion yuan, of which the purchase amount of raw material epoxy resin is 362 million yuan.
In the first half of 2020, the average purchase price of Kangda New Materials epoxy resin is 17,300 yuan/ton, and the second half is 19,400 yuan/ton, calculated from this: In 2020, Kangda New Material's annual purchase of epoxy resin is about 20,000 tons; the annual purchase of amine curing agent is 128 million yuan, accounting for 10.
Kangda New Materials currently has a total production capacity of 79,000 tons of various adhesive products, of which epoxy adhesives are the main products, and epoxy adhesives account for nearly 60% of the production capacity
For the 60,000-ton adhesive project proposed by this fundraising, the product structure of various glues is similar to the current one, and epoxy glue products are still the main products.
