30, Lukang Biochemical announced that the company planned to invest 6 billion yuan to build 100 photovoltaic film production lines in two phases. At the same time, it announced that the acquisition of 100% equity of Jiangxi Weike, a photovoltaic film enterprise, had made significant progress. (Click for details: 6 billion yuan to build 100 lines + acquisition of film companies!
This is the second time that Lukang Biochemical has received a letter of concern from Shenzhen Stock Exchange since it announced the cross-border photovoltaic industry.
According to the investment plan announced by Lukang Biochemical on January 30, Lukang Haining Project will be invested and constructed in two phases:
the first phase of the project will complete 40 production lines in two years, with a total investment of 2.4 billion yuan. The second phase of
the project has completed the construction of 60 production lines, with a total investment of no less than 3.6 billion yuan. The total investment of the
project is 6 billion yuan.
On the same day, Lukang Biochemical ushered in the first trading day of the Year of the Rabbit. On the evening of
the 30th, the Shenzhen Stock Exchange issued a Letter of Concern to Lukang Biochemical, requesting it to fully discuss the rationality of the investment amount in view of the source of 6 billion yuan of funds, the specific construction cycle of the project and the plan for the use of funds, as well as the funds and financing costs needed to achieve the relevant production capacity.
Therefore, the Shenzhen Stock Exchange's "Letter of Concern" requires Lukang Biochemical to explain the specific use of the investment amount of 6 billion yuan, combined with the capital and financing costs required to achieve the relevant production capacity. Fully discuss the rationality of the investment amount setting, and whether the relevant demonstration process is reasonable, objective and prudent .
(2) In combination with the specific construction period and capital use plan of the project, as well as the monetary capital, financial status, financing capacity and arrangement, and estimated investment progress of Lukang Biochemical, the feasibility of the above investment is fully discussed. Does your company have a clear and viable source of funding.
(3) Explain the expected impact of this large investment on the asset-liability ratio, cash flow, daily production and operation of Lukang Biochemical, and fully indicate the relevant risks.
2. Is cross-border photovoltaic catering to hot speculation on stock prices?
In this regard, the "Letter of Concern" said that photovoltaic is a new field for Lvkang Biochemical, and the talents and technologies needed for the project are still being introduced and accumulated, requiring Lvkang Biochemical to explain and discuss the feasibility of the company 's large investment. It further explains whether the investment decision is prudent and reasonable, whether it is conducive to improving the quality of the company's operation, and whether there is a situation of hot speculation in stock prices.
3. Do shareholders reduce their holdings?
In this regard, the Shenzhen Stock Exchange's "Letter of Concern" requires Lvkang Biochemical to explain whether the above-mentioned personnel are aware of the investment, whether the company has cooperated with supervisors and executives to reduce their holdings; Please conduct a self-inspection on the trading of the Company's shares by the controlling shareholders, actual controllers, directors, supervisors, senior managers and their immediate family members and shareholders holding more than 5% of the shares in the past month, and explain whether there is a reduction plan in the next three months. If so, please specify.
In addition, the Shenzhen Stock Exchange also asked Lukang Biochemical to explain the planning process and confidentiality of the above-mentioned investment matters, and to check whether there is information leakage or insider trading.
Taking the photovoltaic express train to become the monster stock of the year has been questioned whether it is hot for photovoltaic because of the high premium acquisition of loss-making enterprises
. Lukang Biochemical seems to have a "criminal record".
As a company with veterinary drugs as its main business, Lukang Biochemical's performance began to decline in the first year of its listing in 2017.
From 2017 to 2021, the revenue scale of Lukang Biochemical Company was maintained at about 300 million yuan. Net profits were 85.925 million yuan, 74.6894 million yuan, 56.966 million yuan, 43.2083 million yuan, respectively. -2604. The annual performance in 2022 is expected to have a loss of up to 1.
This is one of the main reasons why Lvkang Biochemical 's 6 billion yuan investment plan with its own or self-financing funds has attracted the rapid attention of Shenzhen Stock Exchange.
But this is the second time in half a year that Lukang Biochemical has received rapid attention from Shenzhen Stock Exchange.
Previously, in August 2022, when Lukang Biochemical announced its acquisition of 100% of Jiangxi Weike, the premium rate was about 632% . It triggered the rise and fall of the market for five consecutive trading days, with a cumulative increase of 61.
At that time, Jiangxi Weike was mainly engaged in the research and development, production, sales and installation of thin film composite materials and photovoltaic supporting components. Losses in 2021 and April before 2022. On the evening of August
3, Lukang Biochemical Announcement received a letter of concern from Shenzhen Stock Exchange. The Shenzhen Stock Exchange requires the company to explain the reasons and necessity of the high premium acquisition under the circumstances of the loss of the underlying asset performance and the high asset-liability ratio, and whether there is a situation of catering to the hot speculation of stock prices.
On August 7, Lukang Biochemical announced the suspension of the acquisition of Jiangxi Weike, which was not restarted until November 4.
Nevertheless, with the heat of photovoltaics, Lukang Biochemical is still 381.
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