On August 12, Yuefeng Aluminum disclosed a report on the issuance of non-public shares. The report shows that Yuefeng Aluminum's non-public offering of shares was finally determined at a price of 12.8 yuan/share, the number of shares issued was 100 million, and the total amount of funds raised was 1.28 billion yuan, and the actual net amount of funds raised was 1.268 billion yuan after deducting various issuance costs, and the issue object was 15 with a lock-up period of 6 months.
Yuefeng Aluminum said that the issue raised funds to invest in the company's main business, the implementation of the project will help the company to consolidate the existing competitive advantages, improve the company's core competitiveness, further enhance the industry status, to ensure the company's sustainable development.
The total amount raised exceeds seven to become institutional funds
From the disclosure of 15 issued objects, the largest contribution is the fund company, according to statistics, a total of 7 fund companies participated in the subscription amount of 522 million yuan, accounting for 40.78% of the total amount raised.
Among brokerages and insurance assets, Guotai Junan, Citic Construction Investment, CITIC Securities, Ping An Pension Insurance and Taikang Life Insurance were successfully allocated, subscribing 124 million yuan, 81 million yuan, 150 million yuan, 50 million yuan and 65 million yuan respectively, with a total allocation of 470 million yuan, accounting for 36.72% of the total amount raised. In addition, Yuefeng Aluminum has also attracted the attention of foreign funds, and UBSAG (UBS) successfully subscribed for a quota of 167 million yuan.
The report shows that after this issue, the top ten shareholders of Yuefeng Aluminum have changed little, and among the above-mentioned subscription subjects, only UBSAG has entered the ranks of the top ten shareholders of the company, with a shareholding ratio of 1.22%.
For the change of the company's shareholder structure, Yuefeng Aluminum said that as of August 2, 2023, the company's share capital before the issue was 970 million shares; After the completion of this offering, the company will add 100 million shares of limited sale conditional outstanding shares, increasing the total share capital to 1.07 billion shares. This issue will not cause the company's controlling shareholders and actual controllers to change, nor will it cause the company's equity distribution not meet the listing conditions.
Cao Yanyan, partner of Gongjin Enterprise Management Consulting Co., LTD., analyzed to the Securities Daily reporter that: "The participation in Yuefeng Aluminum fixed increase is mostly institutional funds with medium and long-term nature, and these funds join is based on the recognition of the long-term growth value of Yuefeng Aluminum, which is conducive to the stable development of the company."
Continue to layout new energy battery materials field
According to the previous plan, the funds raised by Yuefeng Aluminum are intended to be used for an annual output of 250,000 tons of new energy battery materials. The main products of the project are aluminum foil and aluminum plate strip products for new energy batteries, including 20,000 tons of aluminum-plastic film, 120,000 tons of battery foil, 15,000 tons of fine cut battery foil, 45,000 tons of battery pack packaging plate, 50,000 tons of battery water cooling plate.
Yuefeng Aluminum is a leading enterprise in domestic aluminum rolling processing and recycled aluminum grade protection applications. Since its establishment, the company has been committed to the production and sales of aluminum plate and foil related products, the processing volume and sales volume of related products continue to grow, and it has a certain advantage in the field of traditional aluminum processing products. However, in recent years, with the development of new energy vehicles and automotive lightweight, the demand for lithium battery aluminum and other products in the downstream market has gradually increased, the company's existing equipment has been put into production for many years, and the technical level can not fully meet the market's higher standards and higher quality requirements for aluminum plate and strip products.
Yuefeng Aluminum said that through the implementation of this investment project, the introduction of advanced production equipment and technology at home and abroad, improve the company's production equipment level, and combined with the company's rich experience accumulated in the field of aluminum processing, further adjust the structure of aluminum plate and foil products, expand the production capacity of high-end products, seize the development opportunity of the downstream industry, to achieve the transformation and upgrading of the company's products. Produce a richer variety of products and occupy more emerging market shares. The smooth landing of this fixed increase will help the company to achieve the goal of 2 million tons of plate and foil production and sales and 1.4 million tons of recycled aluminum as soon as possible.
The aluminum foil, aluminum-plastic film and water-cooled plate for lithium batteries produced by Yuefeng Aluminum in this investment project are mainly used in new energy vehicle power batteries, consumer electronics batteries, energy storage batteries and other fields.
The data disclosed by the company in the prospectus shows that at present, China has become the largest producer and consumer of the battery industry, and it is expected that by 2025, the domestic demand for lithium batteries will reach 530GWh, and the lithium battery fluid collection will consume 370,000 tons of battery aluminum foil in 2025, and the aluminum plastic film of soft coated lithium batteries will consume 150,000 tons of aluminum foil. In 2025, the demand for aluminum plate products in the new energy vehicle market will reach 550,000 tons.
Fang Zhongwei, a partner of Shenzhen Fang Li Industry Consulting Co., LTD., told reporters: "From the information disclosed by Yuefeng Aluminum over the years, mainly due to the increase in the proportion of high-end aluminum processed products for automobiles and lithium batteries, Yuefeng Aluminum's gross profit level of a ton of products has increased from less than 800 yuan/ton in 2012 to 2,200 yuan/ton in 2022." With the implementation of the company's fundraising project, the future layout of Yuefeng Aluminum in the field of new energy will be improved again, production capacity and product structure will be further optimized, and the profitability level will be further improved."
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