Yuntianhua raised 5 billion yuan to increase the new energy battery project

On November 16, phosphorus chemical company Yuntianhua disclosed a fixed increase plan. This time, the company intends to raise funds of no more than 5 billion yuan from no more than 35 specific investors, including the company's controlling shareholder Yuntianhua Group, to increase the battery material project. Among the issuance targets of this non-public offering, Yuntianhua Group, one of the subscription targets, is the controlling shareholder of the company, and the amount of Yuntianhua Group intends to subscribe is not less than 750 million yuan (including the principal amount).

Specifically, the fundraising is mainly used for the 200,000 tons/year iron phosphate battery new material precursor project, the sub-project of "300,000 tons/year battery new material precursor and supporting project" "construction of 200,000 tons/year battery new material precursor device" and repayment of bank loans.

Among them, the implementation entity of the iron phosphate battery project is Juneng New Materials, a wholly-owned subsidiary of the company, with a total investment scale of 2.996 billion yuan, and the planned use of raised funds is 2 billion yuan. In terms of implementation feasibility, the company, as one of the leading enterprises in the domestic phosphorus chemical industry, has rich phosphate ore reserves, the existing phosphate ore reserves are nearly 800 million tons, the raw ore production capacity is 14.5 million tons / year, and the wet phosphoric acid production capacity of the enterprise is about 2.6 million tons / year (purified), of which the production capacity of industrial grade monoammonium phosphate is 280,000 tons / year, the production capacity of 85% industrial grade wet refined phosphoric acid plant is 200,000 tons / year, and the production capacity of hydrogen peroxide plant is 200,000 tons / year, which can basically achieve self-sufficiency in raw materials other than iron sources.

The implementation entity of the 200,000-ton battery new material precursor project is Tian'an Chemical, a wholly-owned subsidiary of the company, with a total investment scale of 2.254 billion yuan and a planned use of 1.5 billion yuan of raised funds. This project is a sub-project of the company's 300,000 tons/year battery new material precursor project. According to the record, the main construction content of the 300,000 tons/year precursor project includes a 100,000 tons/year battery new material precursor device, a 200,000 tons/year battery new material precursor device, a 200,000 tons (83% H3PO4) wet phosphoric acid refining plant, a 200,000 tons (27.5% concentration) hydrogen peroxide device and supporting projects.

Yuntianhua said that the investment project will promote the company to better utilize the existing abundant phosphate resources, implement the depth and diversified development and utilization of resources, and realize the company's industrial transformation and upgrading. And with the completion of the fundraising project, a new profit growth point of the company is formed, and the overall anti-cyclical ability and development potential are enhanced.

In addition, on September 29 this year, the company held a meeting of the board of directors to deliberate and pass the "Motion on Signing Project Cooperation Intention Agreement", and agreed that the company and Huayou Holdings signed the "Agreement on Iron Phosphate and Lithium Iron Phosphate Project Cooperation Intention Agreement". Huayou Holdings intends to transfer 49% of the equity of Juneng New Materials held by the company through the public trading market, and the company intends to transfer 49% of the equity of Yunnan Youtian held by Huayou Holdings. If the subsequent implementation is completed, the implementation entity of this fundraising and investment project, Juneng New Materials, will be changed from a wholly-owned company to a non-wholly-owned holding subsidiary with 51% of the company's shares. It is worth noting that Yunnan Youtian plans to plan to build a 500,000 tons/year lithium iron phosphate project in phases, and the signing of the above cooperation intention agreement is conducive to locking downstream lithium iron phosphate customer resources and stabilizing the company's iron phosphate market share.

In terms of production capacity, Yuntianhua said at the third quarter performance briefing that the company's new 100,000 tons/year iron phosphate plant has been fully completed in September, and now it has entered the stage of capacity improvement, and the supporting facilities 100,000 tons/year refined phosphoric acid phase I and phase II projects have been put into operation one after another, and the 200,000 tons/year hydrogen peroxide project is advancing as planned. The company is promoting the construction of 2×20,200,000 tons/year iron phosphate project as planned, which is scheduled to be completed and put into operation before the end of 2023. At present, the lithium hexafluorophosphate project and hydrofluoric acid project of the joint venture between the company and polyfluoride have been completed as planned, and the lithium hexafluorophosphate project is undergoing trial production; The company's existing synthetic ammonia production capacity is 2 million tons/year, and 200,000 tons/year wet purified phosphoric acid production capacity has been built, and another 100,000 tons/year wet purified phosphoric acid production capacity is under construction.