Weiyu Electric, a wholly-owned subsidiary of Injet Electric, which specializes in the research, development and production of EV charging stations.
On Nov 7th evening, Injet Electric (300820) announced that it intended to issue shares to specific targets to raise capital of not more than RMB 400 million, which will be used for EV charging station expansion project, electrode-chemical energy storage production project and supplementary working capital after deducting the issuance costs.
The announcement showed that the issue of share A to specific targets has been approved at the 18th meeting of the 4th session of the BOD of the Company. The issue of share A to specific objects will be issued to no more than 35 (including), of which the number of share A issued to specific objects will not exceed about 7.18 million shares (including the present number), not exceeding 5% of the total share capital of the company before the issue, and the final upper limit of the issue number will be subject to the upper limit of the issue that CSRC agrees to register. The issue price is not less than 80% of the average price of the company’s stock trading for the 20 trading days prior to the pricing reference date.
The issue intends to raise no more than RMB 400 million and funds will be assigned as following:
- For EV charging station expansion project, RMB 210 million yuan proposed.
- For electrode-chemical energy storage production project, RMB 80 million proposed.
- For supplementary working capital project, RMB110 million proposed.
Among them, the expansion project of EV charging stations will be completed as shown below:
A factory building covering 17,828.95㎡, a 3,975.2-㎡supporting shift room,a 28,361.0-㎡public supporting project, with a total construction area of 50,165.22㎡. The area would be equipped with advanced production and assembly lines. The total investment of this project is RMB 303,695,100, and the proposed use of proceeds is RMB 210,000,000 to construct on the corresponding plot of own land.
A 200-acre production area for EV charging stations and energy storage
The construction period of the project is 2 years assumed. After full production, it will have a producing capacity of 412,000 added charging stations per year, including 400,000 AC chargers per year and 12,000 DC charging stations per year.
At present, Weiyu Electric has successfully developed JK series, JY series, GN series, GM series, M3W series, M3P series, HN series, HM series and other electric vehicle AC chargers, as well as ZF series DC fast charging stations in new energy vehicle charging station field.
DC charging station production line