Zhitong Finance App News, CIMC Vehicle (01839) announced that the company plans to terminate the “Baiyin Starchain Semi-Trailer High-end Manufacturing Line Upgrade Project” and the “Taibyte Van High-end Manufacturing Line Upgrade Project” and the “Taibyte Van High-end Manufacturing Line Upgrade Project”. The amount of the A-share fund-raising investment project to be terminated is RMB 18.68 million.

According to reports, the Baiyin Starchain semi-trailer high-end manufacturing line upgrade project is one of the sub-projects of the “Starlink Semi-Trailer High-end Manufacturing Line Upgrade Project”. The implementing entity is Gansu CIMC Vehicle Co., Ltd. The project originally planned to use a fund-raising fund of RMB 78.09 million. As of February 29, 2024, the project had not used A-shares to raise capital, and the investment progress was 0%.

In 2023, the company started its third business. Under the “Starlink Plan” production organization structural reform plan, the company actively built an “LTP+LoM” lighthouse manufacturing network and laid out a high-end manufacturing line for Baiyin Starchain semi-trailers as one of the LoM manufacturing plants. At present, the company's “Starlink Plan” has entered a critical stage of strategy implementation and implementation of initiatives. The company has thoroughly investigated and re-verified the investment layout of each LoM node based on the current market environment and order opportunity distribution pattern. From the perspective of return on investment and investment necessity, the market area radiated by the high-end manufacturing line of Baiyin Starchain semi-trailers can be covered by other high-end Starlink semi-trailer manufacturing lines. After careful research, the company plans to terminate the implementation of the Baiyin Starchain semi-trailer high-end manufacturing line upgrade project.

The implementing entity of the high-end manufacturing line upgrade project for the Terabyte van is CIMC Vehicle Terabyte Automobile Cabin Technology (Zhenjiang) Co., Ltd. The project originally planned to use a fund-raising fund of RMB 10.79 million. As of February 29, 2024, the project had not used A-shares to raise capital, and the investment progress was 0%.

The main investment plans for the high-end terabyte van manufacturing line upgrade project are the upgrading of the Zhenjiang Taibyte dry van manufacturing line and the upgrade of the cooling van manufacturing line. In terms of the dry compartment business, by enhancing the channel network layout (direct stores and dealers), the company has achieved rapid delivery and service capabilities to the East China refrigerated truck market, and the dry car manufacturing production line upgrade project that was planned to be invested in the refrigerated car business is no longer necessary; in the cold room business, the company moved the entire rapid integrated car line that was originally planned to be invested and built in a partner company's workshop to Zhenjiang Taibyte, which can meet the needs of upgrading the cooling chamber manufacturing production line in the original project, so there is no need to invest in this production line construction. In order to avoid idle and waste of capital and resources, improve the efficiency of the use of funds raised, and maximize the interests of the company's shareholders, after careful research, the company plans to finally implement a high-end manufacturing line upgrade project for the TaiByte Vans.