On July 17, Inner Mongolia Oujing Science and Technology Co., Ltd. (Hereinafter referred to as "Oujing Science and Technology") issued the Prospectus for Issuing Convertible Corporate Bonds to Non-specific Targets (Revised Draft).
Oujing Science and Technology intends to raise no more than 470 million yuan for the construction of Ningxia Quartz Crucible Phase I Project, Ningxia Quartz Crucible Phase II Project and Supplementary Liquidity Project.
Ningxia Quartz Crucible Phase II Project, with a total investment of RMB 435 million, plans to build 17,900 square meters of factory buildings; build 18 quartz crucible melting lines: 8 for Phase I and 10 for Phase II; and introduce automatic edge cutting, detection, cleaning and packaging equipment, intelligent storage and other supporting equipment and facilities. After the completion of the two projects, the production capacity of solar grade quartz crucibles and semiconductor grade quartz crucibles will be 180000 per year.
It is reported that the Ningxia Quartz Crucible Phase I and Phase II projects invested by Oujing Technology are mainly to meet the requirements of TCL Zhonghuan's new Ningxia Yinchuan 50GW (G12) Solar Grade Monocrystalline Silicon Material Intelligent Factory (Crystal Phase VI) project and TCL Zhonghuan is expected to add 40 GW crystal production capacity in 2023 (as disclosed in the 2022 annual report of TCL Zhonghuan). At the same time, it can also meet the needs of other downstream customers to expand production.
On July 15, Oujing Technologies issued a performance forecast for the first half of 2023, predicting that the net profit attributable to shareholders of listed companies in the first half of 2023 would be 385 million yuan to 426 million yuan, compared with 92 million yuan in the same period last year, an increase of 318.05% to 362.57%; Net profit after deducting non-recurring gains and losses was 372 million yuan to 413 million yuan, compared with 91 million yuan in the same period last year, an increase of 306.96% to 351.81%.
As for the surge in performance, Oujing Technologies said that it was affected by the strong demand in the downstream market and the rise in raw materials. At the same time, due to the impact of large-sized silicon wafers from downstream customers, the number and proportion of large-sized quartz crucibles sold by the Company continued to increase. Compared with small-sized quartz crucibles, the price of large-sized quartz crucibles was higher, and the gross profit margin of quartz crucible business increased, which led to a substantial increase in the operating results of the Company.
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