Smart Energy plans to raise 3.1 billion yuan to expand power and energy storage lithium batteries

One day after the temporary suspension of trading, Smart Energy released a fixed increase plan on the evening of August 10th.
The company intends to non-publicly issue no more than 345 million shares at a price of not less than 9.
02 yuan per share, and the total raised funds will not exceed 3.
114 billion yuan.
And energy storage lithium battery production capacity to further improve the company's industrial chain
.
Upon application, the company's shares will resume trading on August 11
.
The plan shows that the company’s issuance is targeted at securities investment fund management companies, securities companies, insurance institutional investors, trust investment companies, finance companies, qualified foreign institutional investors, and other legal persons and natural persons or other legal investors that meet the relevant requirements.
The number does not exceed ten, and the final issuance target will be determined by inquiry
.
According to the calculation of the upper limit of the number of issuances, after the completion of this issuance, the actual controller of the company is still Jiang Xipei, and the control of the company will not change
.
In terms of fund-raising projects, the company intends to invest 2.
514 billion yuan in raised funds for its wholly-owned subsidiary Far East Foster's "3G watt-hour high-energy-density power energy storage lithium battery research and development and industrialization project"
.
The project is expected to have a total investment of 3.
889 billion yuan.
It is planned to build 6 fully imported power cell production lines, 3 PACK production lines, and an annual output of 130,000 sets of fully automated PACK production lines; 4 imported steel shells and 20 imported cap production lines, etc.
Supporting equipment to achieve an annual output of 3G watt-hours of power and energy storage lithium batteries
.
Smart Energy stated that the company successfully entered the lithium battery field through the acquisition of Far East Foster in 2015.
After the acquisition, Far East Foster has achieved good results, showing good synergy and economic benefits
.
The implementation of this fundraising project will continue to increase Far East Foster's market share in the lithium battery field, and is an effective measure to enhance the rapid development of the lithium battery sector
.
The construction period of the project is 2 years, and the estimated internal rate of return after tax is 20.
68%
.
In addition, the company plans to use part of the raised funds, that is, 600 million yuan to supplement working capital, to optimize the company’s capital structure, meet the company’s capital needs for future business development, reduce financial expenses, and increase the company’s profitability.

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Smart Energy stated that the company intends to further improve the company’s smart energy solution industry chain from planning and design, product services, construction and installation, operation and maintenance management, energy efficiency management, and general contracting services through this non-public offering, and at the same time expand the company’s power and storage Energy capacity of lithium batteries
.
After the completion of the fundraising project, the company will strengthen its layout in the energy Internet links of smart grid operation and maintenance, energy storage equipment, and distributed energy, and further consolidate the industrial chain layout of "smart energy and smart city"
.