Antai Technology: Announcement of Company Investment Project

Abstract Stock code: 000969 Securities abbreviation: Antai Technology Announcement No.: 2013-026 Antai Technology Co., Ltd. Investment Project Announcement The company and all members of the board of directors guarantee the true content of the information disclosure.
Stock code: 000969 Stock abbreviation: Antai Technology Announcement No.: 2013-026

Antai Technology Co., Ltd. Investment Project Announcement
The company and all members of the board of directors guarantee that the content of the information disclosure is true, accurate and complete, and there are no false records, misleading statements or major omissions.

I. Overview of investment projects

New energy vehicles are one of the seven major areas of the country's strategic emerging industries, and are also a new trend in the international automotive industry. The demand for high-quality NdFeB magnets for such vehicles will continue to grow.

Rare earth permanent magnet materials and products are an important part of Aetna's magnetic materials business and one of the company's core businesses. At present, the company's NdFeB industry has achieved upgrading to the mid-to-high-end industry, with strong product development capabilities, international production quality management system, strong market development capabilities, and has achieved many important user industries and international mainstream customers. Certified, the high-end NdFeB magnetic materials produced have been applied in important fields such as high-end consumer electronics (including VCM), industrial motors and automobiles, and more than 80% of the products are exported.

In order to further improve product quality and market competitiveness, and give full play to the marginal benefits of the production line, the board of directors of the company agreed to invest 80.71 million yuan to implement the “energy capacity expansion project for high-performance rare earth permanent magnet products for new energy vehicles” in the company's airport industrial park. The project will adjust and adjust the internal process layout of the rare earth permanent magnet plant, transfer and expand part of the auxiliary process space, transform and build part of the infrastructure to maximize the overall production capacity of the rare earth permanent magnet production line, and increase the sintering after the project is implemented. The iron and boron production capacity is 500 tons/year.

Second, the basic situation of investment projects

1. Main contents of project construction

The project will adjust and adjust the internal process layout of the rare earth permanent magnet plant, transfer and expand part of the auxiliary process space, transform and build part of the infrastructure to maximize the overall production capacity of the rare earth permanent magnet production line. After the project is implemented, the production capacity of sintered NdFeB can be increased by 500 tons/year. The products are mainly hybrid electric vehicles and electric vehicle magnets.

2. Construction site

Antai Technology Co., Ltd. Airport Industrial Park.

3. Construction period

The construction period of the project is 15 months. It is scheduled to start in September 2013 and has the conditions for completion acceptance at the end of 2014.

4. Investment estimate

The total investment amount of the project is 80.715 million yuan, of which: the newly added construction investment is 69.348 million yuan, and the initial working capital is 11.367 million yuan. The source of funds is self-raised by the company.

Third, the purpose of project implementation and the impact on the company

1. This project is based on the company's “Twelfth Five-Year” development strategy. The products are positioned in the high-end application field, and the high-performance products meet the emerging automotive magnet field, which has a good market prospect. At the same time, the existing basic conditions of the rare earth permanent magnet plant can be utilized to maximize the marginal benefit of investment, and the production cost can be further reduced in terms of land, plant and supporting implementation.

2. The implementation of the project will not have a significant impact on the company's operating results in the short term.

Fourth, the risk of project implementation

1. Technical risk

The vehicle magnet is the high-end field of NdFeB application. The certification requirements are very strict. The high performance stability and consistency of the magnet are the primary requirements of customers. High technical development, product process and equipment levels are required in both the product testing phase and the product batch validation phase.

2. Market risk

At present, new energy vehicles are in the stage of development and gradual popularization, and the market is in a rising period. Whether it will be sold in large quantities in the future and whether the company's products can be authenticated by customers is the risk.

V. Documents for reference

Resolution of the 19th meeting of the fifth board of directors of Antai Technology Co., Ltd.

Special announcement.

Antai Technology Co., Ltd.

August 13, 2013

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