On November 22, Hongyuan Green Energy announced that it planned to adjust the scale of raising funds by issuing A-share stocks to specific targets in 2022, from 5.819 billion yuan to 2.7 billion yuan . The scale of fund-raising has shrunk by more than 50% . On March 11,
2023, Shangji CNC, which has not yet changed its name to "Hongyuan Green Energy", issued the Prospectus for Issuing A-Shares to Specific Targets in 2022. According to the announcement, the company intends to raise no more than 5.819 billion yuan (including 5.819 billion yuan) by issuing shares to specific targets for high-purity silicon projects with an annual output of 50000 tons and supplementary liquidity.
The specific adjustment is that the fund raised will no longer be used to supplement liquidity projects, and the "annual output of 50000 tons of high-purity silicon project" will also be reduced from 4.72 billion yuan to 2.7 billion yuan .
Although Hongyuan Green Energy has reduced the fund-raising investment of the high-purity silicon project with an annual output of 50000 tons, the total investment of the project has not been reduced . In response, Hongyuan Green Energy said that, in light of the company's actual situation, the company intends to adjust the total amount of funds raised by issuing shares to specific targets from no more than 5.819 billion yuan to no more than 2.7 billion yuan, and the amount of funds to be raised for this fund-raising investment project will also be adjusted accordingly.
In terms of project funds, Hongyuan Green Energy said that before the fund raised in this issue is in place, the company can use self-financing funds to invest in the project in advance according to its own development needs and market conditions, and replace it after the fund raised is in place. After the raised funds are in place, if the actual net amount of raised funds after deducting the issuance expenses is less than amount of raised funds to be invested, the insufficient part shall be solved by the company with self-raised funds. On August 31
this year, Hongyuan Energy 150000 tons of high-purity industrial silicon and 100000 tons of high-purity crystalline silicon project Phase I 50000 tons of high-purity crystalline silicon project was officially put into operation . The project is located in Guyang County, Baotou City, Inner Mongolia, covering an area of about 1700 mu, with a total investment of 11.8 billion yuan. The successful commissioning of Hongyuan N-type high-purity silicon project marks the formal opening of the last link of Hongyuan photovoltaic industry chain.
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