Breaking News! This fluorine chemical project will be terminated!
On March 21, Nan Da Photoelectric's announcement regarding the termination of certain fundraising projects, the permanent supplementation of remaining funds to working capital, and the sale of related assets, constituting a related-party transaction.
The announcement stated that Nanda Optoelectronics will agree to the company's termination of the implementation of the "Hexafluorobutadiene Industrialization Project" funded by the capital raised from the issuance of shares to specific objects in 2021, and will permanently supplement the remaining uninvested fundraising amount of 28,816,400 yuan as working capital. Additionally, it will sell the entire Hexafluorobutadiene project assets to Qixin Gas for a total price of 69,030,000 yuan.
It is understood that the hexafluorobutadiene industrialization project plans to construct a 100 tons/year hexafluorobutadiene production facility and its supporting facilities, with a total construction period of 40 months. After production starts, the product will mainly be used in the etching process of high-end storage chip manufacturing. The project plans to build a 30 tons/year pilot plant in 2024, achieve a 50 tons/year production capacity in 2025, and reach a total production capacity of 100 tons/year by 2026.
Nata Optoelectronics stated, "The hexafluorobutadiene industrialization project" has currently established a 30-ton/year pilot plant, but subsequent large-scale R&D, equipment, and material investments are still required in terms of process maturity, quality stability, and customer validation. There is still a gap from the project plan of an annual total capacity of 100 tons. At the same time, with a large amount of capital pouring into the specialty gas field for electronics, market competition is intensifying, and the project faces risks such as failing to meet expected economic benefits. Based on changes in the current market environment, its own business conditions, and overall development plans, Nata Optoelectronics, after careful deliberation and assessment, intends to terminate the implementation of the "hexafluorobutadiene industrialization project" to reduce investment risks associated with the raised funds.
Nanda Optoelectronics also stated that the termination of some fundraising projects and the sale of related assets is a prudent decision made based on the actual construction status of the fundraising projects, changes in the current market environment, and the company's business development plan. Terminating the "Hexafluorobutadiene Industrialization Project" aligns with its actual operating conditions, which helps to prevent operational risks, ensure the safety of raised funds, and will not have a significant adverse impact on its production and operation. At the same time, selling the assets of the hexafluorobutadiene project is conducive to Zibo Nanda continuously focusing on its core business, optimizing its asset structure, improving operational efficiency, and promoting its business development.
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