On Wednesday, Autowell (SH: 688516) released the Prospectus for the Issuance of A Shares and Securities to Specific Investors in 2021, which intended to issue no more than 7,813,609 shares at the price of 70.39 yuan/share to Mr. Ge Zhiyong, the actual controller of the company, raising no more than 550 million yuan, with 36 months restricted stock trade period.
Source: Autowell
The raised funds plan to be used for R&D and industrialization of high-end intelligent equipment, science and technology reserve funds and supplementary working capital. Among them, the high-end intelligent equipment mainly include TOPCon solar cell manufacturing equipment, key semiconductor packaging and testing equipment and lithium battery cell core process equipment.
Autowell is a well-known automation equipment manufacturing enterprise in the solar PV and lithium battery industry.
In the first three quarters of 2021, the company achieved an operating revenue of 1.428 billion yuan, a year-on-year increase of 119%. The net sales profit was 228 million, up 288% year-on-year.
As of December 1, 2021, the company’s share price was 254.61 yuan/share, with a total market capitalization of 25.122 billion. Since the beginning of the year, the share price has increased by more than 222%.
