Xunjiexing: Changing IPO fundraising projects, PCB factories reduce costs and increase efficiency to accelerate intelligence

On August 31, Xunjiexing issued an announcement showing that the original fundraising investment project: an annual output of 300,000 square meters of high-layer boards and 180,000 square meters of HDI boards (hereinafter referred to as the "original fundraising project") will be changed to an annual output of 600,000 square meters of PCB intelligent factory expansion project.

It is understood that Xunjiexing originally planned to use the net proceeds of 200,055,200 yuan from the initial public offering for the "annual production of 300,000 square meters of high-layer boards and 180,000 square meters of HDI boards project" to be implemented by its wholly-owned subsidiary Xinfeng Xunjiexing Circuit Technology Co., Ltd. (hereinafter referred to as "Xinfeng Xunjiexing"). It is now planned to change the investment project of the raised funds to the "annual production of 600,000 square meters of PCB intelligent factory expansion project" (hereinafter referred to as the "changed fundraising project"), and the implementing entity remains unchanged.

Xunjiexing said that the main purpose of this change project is:

1. Break through the bottleneck constraints of production capacity, speed up the improvement of production capacity, and meet the company's expansion needs. Compared with the original fundraising and investment projects, the changed fundraising and investment projects are conducive to accelerating the expansion of the company's production capacity and improving its ability to undertake business in the short term, better leveraging the company's scale effect, expanding the customer base on the basis of consolidating existing customers, and enhancing the company's market competitiveness and profitability.

2. Improve the efficiency of the use of raised funds and accelerate the development of the company. Since the actual funds raised by the company's initial public offering are less than the funding needs of the original investment projects, the funding gap is large. The company's change in the use of raised funds can speed up the implementation of the investment projects and obtain investment project returns, improve the efficiency of the use of raised funds, further alleviate the financial pressure of the company's expansion process, and accelerate the development of the company, which is in line with the company's development plan.

3. Accelerate the transformation and upgrading to smart manufacturing. The changed fundraising and investment projects will use the MES platform to integrate big data management, adopt the "double auxiliary materials + large plate" production method, and create a smart factory with a higher level of automation and interconnection, more optimized processes, more scientific layout, and more perfect management, so that the company can accelerate the transformation and upgrading to smart manufacturing. By accelerating the construction of smart factories, the automation level of production lines can be further improved, production costs can be reduced, and operating efficiency can be improved, helping the company to quickly enter the fast lane of development and catch up with its peers.