Alide announced on The evening of February 28 that Shanghai Shengxi, a wholly-owned subsidiary of the company, plans to sign a contract with Chongqing BOE Display Technology Co., Ltd. to provide on-line evaporation source equipment for 111 million yuan (including tax).
The following is the full text of the announcement:
I. Review procedures
On December 16, 2021, the Company disclosed on the website of Shanghai Stock Exchange the Notice on winning the bid of the Project of wholly-owned Subsidiaries.
On February 25, 2022, the company held the 11th meeting of the fourth board of Directors, deliberated and approved the Proposal on the Major Daily Operation Contract to be signed by wholly-owned subsidiaries, and approved this transaction. According to the Listing Rules of Shanghai Stock Exchange Science and Technology Innovation Board and the Articles of Association, this transaction does not need to be submitted to the general meeting of shareholders for deliberation and approval.
2. The subject matter of the contract and the other party
(1) The subject matter of the contract
Shanghai Shengxi Optoelectronic Technology Co., LTD. (hereinafter referred to as "Shanghai Shengxi"), a wholly-owned subsidiary of the company, provided line evaporation source equipment to Chongqing BOE Display Technology Co., LTD., with a contract amount of 110,740,000 yuan (including tax).
(2) Information about the other party
1. Enterprise name: Chongqing BOE Display Technology Co., LTD
Nature of enterprise: Limited liability company
Legal representative: Liu Xiaodong
Registered capital: 2,112, 4727, 475 million (YUAN)
Date of establishment: 2017-07-20
Registered address: No.117, No.123, Yunhan Avenue, Beibei District, Chongqing
Business scope: research and development, production and sales of semiconductor display devices and related products; Import and export of goods and technologies (except commodities and technologies that are limited or prohibited from import and export by the state); Technology development, technology transfer, technical consultation and technical services in display devices and components, other electronic components, and related fields of display devices and electronic products (excluding electronic publications); Enterprise management consulting; Property management (excluding first-level property management); Housing rental; Mechanical equipment leasing. [For projects subject to approval according to law, business activities can only be carried out with approval from relevant departments], housing leasing (except for projects subject to approval according to law, business activities can be carried out independently with business license according to law)
Major shareholder: BOE Technology Group Co.,Ltd.
The other party of the contract is a subsidiary of BOE Technology Group Co.,Ltd. Based on the business information confidentiality requirements of the other party, and in accordance with relevant provisions on information disclosure of listed companies, the disclosure of major financial data of the latest fiscal year is exempted.
2. There is no association between the other party and the Company or its holding subsidiaries.
3. Transactions between the counterparty and the Company and its holding subsidiaries in the last three fiscal years
In 2020, Shanghai Shengxi won the bid of "Boe Chongqing 6th Generation AMOLED (Flexible) Production Line Project" evaporation source equipment, with the amount of 192.1226 million yuan (tax included), accounting for 50.55% of the total evaporation source orders in 2020.
Iii. Main terms of the Contract
1. Both parties:
Buyer: Chongqing BOE Display Technology Co., LTD
Seller: Shanghai Shengxi Photoelectric Technology Co., LTD
2. Contract Amount: 110,740,000 YUAN (tax included)
3. Payment method and payment schedule: The Buyer shall pay the corresponding proportion of the contract price according to the time limit and method agreed herein
4. Place and Method of performance: The Seller shall deliver the goods to the place designated by the Buyer
5. Term of performance: According to the contract requirements, complete the delivery, moving in, installation and debugging, inspection and testing, quality assurance, etc
6. Terms and time of entry into force: The contract shall come into force upon being sealed by both parties and signed by legally authorized representatives
7. Time and place of contract signing: The contract will be signed at the buyer's place after the approval of the Board of Directors
8. Liability for breach of contract: If the Seller breaches any representations and warranties in this Contract or makes any misrepresentations and warranties, the Seller shall be deemed to have breached the contract and shall be liable for breach of contract
9. Dispute settlement: Any dispute, dispute or claim arising out of or in connection with this Contract shall be submitted for arbitration by the China International Economic and Trade Arbitration Commission (CIETAC) in Beijing, China, in accordance with its rules and procedures in effect. The award made by the arbitration Commission shall be final and binding upon both parties
The impact of contract performance on the listed company
This transaction belongs to the daily business activities of the company, which is conducive to increasing the company's business performance, promoting the company's development and enhancing its market influence in the evaporation source market. Depending on product delivery and acceptance, it is expected to have a positive impact on the performance in 2022 or 2023, but the possibility of earlier or later recognition of revenue is not ruled out.
This transaction will not affect the independence of the Company's business and will not be dependent on the performance of the contract parties.
V. Risk analysis of contract performance
Both parties hereto have the ability to perform the contract. However, during the performance of the Contract, the contract may fail to be performed as scheduled or in full due to unpredictable factors or force majeure such as adjustment of industry policies and changes in market environment. Please investors rational investment, pay attention to investment risks.
Hereby announce.
Jilin Aolide Photoelectric Materials Co., LTD
The board of directors
March 1, 2022
