Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
GUANGZHOU AUTOMOBILE GROUP CO., LTD.
廣州汽車集團股份有限公司
(a joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 2238)
UTILISATION OF PROCEEDS FROM NON-PUBLIC ISSUANCE OF A SHARES
References are made to the announcements of Guangzhou Automobile Group Co., Ltd. (the "Company") respectively dated 31 October 2016 and 17 November 2017, and the circular of the Company dated 25 November 2016 (the "Circular") in relation to, amongst others, the non-public issuance of A shares of the Company. Unless otherwise indicated, capitalised terms used in this announcement shall have the same meaning as defined in the Circular.
The Non-public Issuance was completed in November 2017. The actual amount of gross proceeds raised was RMB14,999,999,957.14 and the actual amount of net proceeds raised, after deducting the issuance expenses of RMB83,050,000.00 was RMB14,916,949,957.14. Details of utilisation of the proceeds raised as at 31 December 2018 and as at 30 June 2019 respectively are set out below.
AS AT 31 DECEMBER 2018
As at 31 December 2018, the amount of proceeds brought forward was RMB7,839,414,400 whereas the total cumulative amount of utilised proceeds was RMB7,542,520,600 (inclusive of issuance expenses). There was no inconsistency between the utilisaion of the proceeds and the original intended use.
Details of utilisation of the proceeds raised are set out below:
Unit: RMB10,000 | ||||
No. | Investment project | Total amount of | Amount | Cumulative |
investment | invested for | amount | ||
commitment from the | this year | invested | ||
proceeds raised | ||||
1 | New energy vehicles and R&D of | 480,000.00 | 82,216.00 | 114,222.63 |
prospective technology project | ||||
1 |
2 | GAEI phase 1 base construction | 60,000.00 | 9,030.12 | 9,874.26 |
project | ||||
3 | GAEI phase 2 base construction | 100,000.00 | 5,109.58 | 38,185.35 |
project | ||||
4 | GAC proprietary brand project of | 80,000.00 | 6,468.83 | 22,782.95 |
Xinjiang | ||||
5 | GAC improvement project of | 220,000.00 | 33,523.44 | 152,350.38 |
Hangzhou | ||||
6 | GAC proprietary brands | 250,000.00 | 125,769.87 | 139,567.00 |
technological reformation project | ||||
7 | GAC proprietary brands vehicle | 215,000.00 | 75,078.92 | 184,098.46 |
models projects | ||||
7.1 | GAMC A16 project | 20,000.00 | 3,549.78 | 17,639.05 |
7.2 | GAMC A35 project | 35,000.00 | 16,159.88 | 25,077.09 |
7.3 | GAMC A5H project | 30,000.00 | 8,708.69 | 30,547.98 |
7.4 | GAMC A10 project | 40,000.00 | 18,147.41 | 33,835.77 |
7.5 | GAMC A30 project | 15,000.00 | 0.00 | 15,000.00 |
7.6 | GAMC A32 project | 10,000.00 | 3,333.15 | 9,849.95 |
7.7 | GAMC A06 project | 35,000.00 | 17,932.21 | 31,491.54 |
7.8 | GAMC A7M project | 30,000.00 | 7,247.80 | 20,657.09 |
8 | GAMC engine project | 50,000.00 | 29,187.61 | 45,797.88 |
9 | GAMC gearbox project | 30,000.00 | 11,626.69 | 25,317.74 |
10 | P6 gearbox development project | 15,000.00 | 8,054.54 | 13,750.41 |
Issuance expenses | - | 0.00 | 8,305.00 | |
Total | 1,500,000.00 | 390,065.60 | 754,252.06 | |
AS AT 30 JUNE 2019
As at 30 June 2019, the amount of proceeds brought forward was RMB6,589,327,100 whereas the total cumulative amount of utilised proceeds was RMB8,921,517,800 (inclusive of issuance expenses) and there was no inconsistency between the utilisaion of the proceeds and the original intended use.
Details of utilisation of the proceeds raised are set out below:
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Unit: RMB10,000 | ||||||||
No. | Investment project | Total amount of | Amount | Cumulative | Estimated | |||
investment | invested | amount | time of | |||||
commitment | for this | invested | completion | |||||
from the | half year | |||||||
proceeds raised | ||||||||
1 | New energy vehicles and | 480,000.00 | 69,051.75 | 183,274.38 | ||||
R&D | of prospective | 2020 | ||||||
technology project | ||||||||
2 | GAEI | phase | 1 | base | 60,000.00 | 2,940.14 | 12,814.40 | 2020 |
construction project | ||||||||
3 | GAEI | phase | 2 | base | 100,000.00 | 4,220.41 | 42,405.76 | 2020 |
construction project | ||||||||
4 | GAC | proprietary | brand | 80,000.00 | 0.00 | 22,782.95 | 2023 | |
project of Xinjiang | ||||||||
5 | GAC | improvement | 220,000.00 | 0.00 | 152,350.38 | Completed | ||
project of Hangzhou | ||||||||
6 | GAC proprietary brands | 250,000.00 | 45,447.28 | 185,014.28 | ||||
technological | Completed | |||||||
reformation project | ||||||||
7 | GAC proprietary brands | 215,000.00 | 11,926.37 | 196,024.84 | ||||
vehicle models projects | ||||||||
7.1 | GAMC A16 project | 20,000.00 | 898.56 | 18,537.61 | Completed | |||
7.2 | GAMC A35 project | 35,000.00 | 5,465.69 | 30,542.78 | Completed | |||
7.3 | GAMC A5H project | 30,000.00 | 0.00 | 30,547.98 | Completed | |||
7.4 | GAMC A10 project | 40,000.00 | 885.64 | 34,721.41 | Completed | |||
7.5 | GAMC A30 project | 15,000.00 | 0.00 | 15,000.00 | Completed | |||
7.6 | GAMC A32 project | 10,000.00 | 150.05 | 10,000.00 | Completed | |||
7.7 | GAMC A06 project | 35,000.00 | 2,663.30 | 34,124.84 | Completed | |||
7.8 | GAMC A7M project | 30,000.00 | 1,893.13 | 22,550.22 | Completed | |||
8 | GAMC engine project | 50,000.00 | 1,486.95 | 47,284.83 | Completed | |||
9 | GAMC gearbox project | 30,000.00 | 1,577.22 | 26,894.96 | Completed | |||
10 | P6 gearbox development | 15,000.00 | 1,249.59 | 15,000.00 | 2020 | |||
project | ||||||||
Issuance expenses | - | 0.00 | 8,305.00 | - | ||||
Total | 1,500,000.00 | 137,899.71 | 892,151.78 | |||||
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The Group expects to continue to invest the unused proceeds raised from the Non-public Issuance in each of the above unfinished projects in accordance with the respective amount of investment commitment and expected time of completion, and in order taking into account the importance and urgency of each project.
For further information on the utilisation of proceeds raised from the Non-public Issuance, please refer to the "Specific Report on the Deposit of the Proceeds and the Utilisation of the Proceeds by Guangzhou Automobile Group Co., Ltd." published by the Company on 29 March 2019 and 30 August 2019 respectively by way of overseas regulatory announcements.
By order of the Board
Guangzhou Automobile Group Co., Ltd.
ZENG Qinghong
Chairman
Guangzhou, the PRC, 13 December 2019
As at the date of this announcement, the executive directors of the Company are ZENG Qinghong and FENG Xingya, the non-executive directors of the Company are YAN Zhuangli, CHEN Maoshan, CHEN Jun, DING Hongxiang and HAN Ying, and the independent non-executive directors of the Company are FU Yuwu, LAN Hailin, LEUNG Lincheong and WANG Susheng.
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Guangzhou Automobile Group Co. Ltd. published this content on 13 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 December 2019 10:10:10 UTC