Matsui Co., Ltd.: The company plans to change and postpone several fundraising projects such as the construction of high-performance water-based coatings

Latest News:

On the evening of June 10, Matsui Co., Ltd. issued an announcement stating that the company integrated changes in the global market and industry environment, combined with future strategic development plans, in order to further improve the efficiency of fundraising and protect the interests of the company and shareholders, the board of directors, after careful analysis, agreed to Some raised fund investment projects (hereinafter referred to as “raised investment projects”) are subject to change.

Among them, Matsui Co., Ltd. plans to increase the total investment of high-performance water-based paint construction projects from 159.9436 million yuan to
161,078,100 yuan, an increase of 1,134,500 yuan Matsui shares plans to use the adjusted balance of other fundraising projects to make up, and at the same time extend the construction completion period of the project to June 2024; it is planned to renovate and expand the total construction project with new functional coatings for auto parts. The amount invested by
23.7867 million yuan was increased to
41,824,200 yuan, and the increased 18,037,500 yuan of Matsui shares will be supplemented by the adjusted balance of other fundraising projects, and the construction completion period of the project will be extended to June 2024.

In addition, it is planned to increase the total investment of the R&D testing center construction project from RMB 131,735,000 to RMB 420,246,600. Matsui shares stated that in addition to using the original project to raise funds, the company
In addition to RMB 83,376,000, the insufficient part is planned to use the remaining funds raised from other fundraising projects after the change of RMB 42,611,500, and part of the over-raised funds
84,012,500 yuan and the company’s own funds of 210,246,600 yuan to make up, and to extend the construction completion period of the project to June 2024.

Regarding the reasons for the change and delay of the high-performance water-based paint construction project, Matsui Co., Ltd. said that with the high-intensity R&D investment, the company’s production process in the field of water-based paint has been continuously optimized. The proposed equipment purchase list has been adjusted to some extent. The high-performance water-based coatings to be expanded in this project mainly include low-temperature self-drying primers, water-based PU topcoats, water-based UV topcoats and high-temperature baking primer topcoats. standard.

In order to further improve the company’s automated production level, the company plans to optimize and adjust the required production equipment and testing facilities to meet the company’s long-term development needs. In addition, due to the impact of the new crown epidemic, the construction of the project is slower than the original plan; at present, the company’s civil engineering of the project has been basically completed, and the installation and commissioning of some equipment is in progress. The company decided to extend the date when the project is scheduled to be available for use in light of the project construction situation and other factors.

As for the reasons for the changes and delays in the renovation and expansion of new functional coatings for auto parts, Matsui Co., Ltd. said that with the advancement of low-carbon emission reduction, energy-saving and environmental protection policies, and new energy vehicles in the cruising range, safety performance, intelligent network connection, etc. With the enhancement of overall competitiveness, the penetration rate of new energy vehicles in my country continues to increase,
The new functional coatings industry for auto parts has a broad space for growth. The company actively deploys the new energy vehicle market and seizes new opportunities for industry development.

The company’s passenger car business has undergone early development and exploration, and has successfully passed a series of terminal certifications and has been recognized by customers. In recent years, through the two-wheel drive of technology and market, the company’s sales industry in the field of passenger cars
The performance has been gradually reflected and has become a new performance growth point.

Considering the actual construction situation of the project and taking into account the future development needs of the company’s passenger car business, the company has increased the investment in advanced production equipment and inspection and testing devices for the project. At the same time, in order to improve automated manufacturing
Level and production efficiency, reduce labor costs, and will be equipped with the industry’s most advanced DCS production automation control system for production. Therefore, the equipment purchase and installation costs of the project increased accordingly.

In addition, due to the impact of various factors such as the new crown epidemic, market environment, and the company’s actual operating conditions,
The actual construction progress is longer than the original planned construction progress. According to the current progress of the project, the company has decided to extend the date when the project is scheduled to be available for use.

Regarding the reasons for the change and delay of the construction project of the R&D testing center, Matsui said that with the continuous expansion of the company’s business scale and the increasing number of R&D projects in recent years, the existing R&D conditions can no longer meet the needs of the company’s future business development. In terms of personnel, venues, equipment, environment, etc.
face restrictions. In order to maintain the leading edge of technology in the industry, on the one hand, the company needs to continuously increase R&D investment, further introduce more high-end outstanding R&D talents, and conduct forward-looking research on industry-related technical topics; on the other hand, it needs to optimize the R&D testing environment and purchase advanced R&D and testing equipment, and build a R&D testing center with advanced facilities, complete functions, efficient information transmission and efficient coordination in the central region. subject to materials and
The overall cost increase has led to an increase in the project construction cost. Affected by relevant national laws, regulations and policies, the project evaluation, testing and review costs also increased.

In addition, as the company adjusted the overall planning of the project and added more R&D and testing laboratories, the overall R&D supporting investment has increased compared to the original planned project. The repeated COVID-19 epidemic has had a certain impact on the construction progress of the project, and the investment in the purchase and installation of R&D equipment will also be postponed accordingly. According to the current progress of the project, the company has decided to extend the date when the project is scheduled to be available for use.