Anxin Electronics Application Science and Technology Board IPO, information disclosure still has a number of doubts

Anhui Anxin Electronic Technology Co., Ltd. (hereinafter referred to as "Anxin Electronics") is the design, manufacturing and sales of power semiconductor chips, power devices, and semiconductor key materials.

Capacity data is contradictory

Anxin Electronics prospectus disclosed that the number of shares planned to issue a listed company this time did not exceed 10.38985 million shares, not less than 25%of the company's total share capital after the issuance. The company plans to raise 395 million yuan in funds, which are used for high -end power semiconductor chip R & D and manufacturing projects, R & D centers to improve construction projects, and supplement mobile funds.

Anxin Electronics said that the company currently has 3 4 -inch high -quality chip production lines, and a 5 -inch automation advanced production line is under construction (the design capacity is 3.6 million tablets/year, and has been put into production in a small amount), FRD/FRD chip, TVS chip and high high The capacity of performance STD and other chips has reached 5.4 million pieces/year. At the end of 2020, Anxin Electronics capacity was 3.6 million pieces per year.

However, in January 2021, Anxin Electronics's "high -end power semiconductor chip R & D and manufacturing project" environmental assessment document released by Anxin Electronics on the website of the Chizhou Ecological and Environment Bureau showed that the company's existing project production capacity was 1.8 million GPP chips. "High -end power semiconductor chip R & D and manufacturing project" will be added with 3.6 million pieces after completion, and the total production capacity will be 5.4 million pieces after production. This capacity expression is far from the disclosure of the prospectus.

In addition, the "high -end power semiconductor chip R & D and manufacturing project" environmental assessment document also shows that the project plans to build two fully automated and 3.6 million 5 -inch high -end power semiconductor chip research and development and manufacturing production lines. That is, the production capacity of each production line is 1.8 million 5 -inch high -end power semiconductor chips. However, the prospectus introduced that the company is building a 5 -inch automation advanced production line with a design capacity of 3.6 million pieces per year. Anxin Electronics also has conflicts on the production capacity of each production line.

Can't say environmental protection investment

Not only that, the "high -end power semiconductor chip R & D and manufacturing project" environmental assessment document shows that the project's environmental investment is 3.35 million, but the prospectus disclosed that the project's environmental protection investment is estimated to be 8.45 million yuan, and the source of funds is raised funds. What is the environmental investment of the fundraising project? What is the reason for the difference between the two versions? Anxin Electronics has not explained.

More than 750 million investments are missing?

The Anxin Electronics Prospects also showed that as of December 31, 2021, Anxin Electronic Fixed Assets had the original value of 252 million yuan. However, in September 2017, the official website of the Chizhou Economic and Technological Development Zone said that on September 8, 2017, Anhui Anxin Electronic Technology Co., Ltd.'s second -phase automobile electronic chip project was officially completed and put into operation. Cheng Guoqing, the director of the Development Zone Management Committee, attended the ceremony and delivered a speech. Xu Chengyuan, Jiang Sanlin, and Zhu Xuehua, members of the management committee, participated in the production ceremony.

The news also stated that the first phase of Anhui Anxin Electronic Technology Co., Ltd. has all been put into production, and in 2016, sales of 150 million yuan. The total investment of 2 million high -reliability car electronic chip projects in the second phase of the second phase of the second -stage production is 750 million yuan, covering an area of ​​68 acres. It is expected to achieve an annual sales of 1.8 billion yuan and a profit and tax of 360 million yuan. In 2021, Anxin Electronics revenue was 40,770,700 yuan, and net profit was 105.319 million yuan. If the official website news of the Chizhou Economic and Technological Development Zone is true, why has the second phase of the second phase of the second -phase project that has reached its production in 2017, why is it not reflected in the Anxin Electronic Prospectus? Why did the original value of Anxin Electronics' fixed assets be only 252 million yuan until the end of 2021. Under the future of the market environment, the above -mentioned projects have different after -production sales and prediction values. What are the reasons? Anxin Electronics is necessary to give the answer.

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