Securities code: 000672 securities abbreviation: Gansu Shangfeng Cement Co.Ltd(000672) Announcement No.: 2022-010
Gansu Shangfeng Cement Co.Ltd(000672)
Announcement on entrusted financial management plan in 2022
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Gansu Shangfeng Cement Co.Ltd(000672) (hereinafter referred to as "the company") deliberated and adopted the proposal on the company's 2022 entrusted financial management plan at the 40th meeting of the ninth board of directors on February 17, 2022, which agreed that the company would use its own idle funds of no more than 800 million yuan (including 800 million yuan) for entrusted financial management without affecting its normal operation and controllable risk, In order to improve the company's capital use efficiency, increase the income of cash assets and create more income for the company and shareholders, the period of entrusted financial management is effective within one year from the date of deliberation and approval by the company's board of directors. The board of directors authorizes the company's management to be responsible for the specific implementation of relevant matters. The relevant information is hereby announced as follows:
1、 Overview of entrusted financial management
1. Purpose of entrusted financial management
On the premise of not affecting the normal operation and capital safety of the company, the rational use of its own idle funds for low-risk entrusted financial management is conducive to improving the efficiency of the company's capital use, maximizing the benefits of cash funds and creating greater benefits for the company and shareholders.
2. Entrusted financial management amount
The company and its subsidiaries intend to use their own idle funds with a total amount of no more than 800 million yuan (including 800 million yuan) for entrusted financial management. The balance of entrusted financial management at any time point within the spot limit shall not exceed 800 million yuan. Within the above limit, the funds can be recycled and rolled.
3. Entrusted financial management
The company will strictly control risks in accordance with relevant regulations, strictly evaluate and screen financial products, and purchase financial products with low risk, good liquidity and high security (including fixed income or breakeven floating financial products issued by banks and other financial institutions). The entrusted financial products invested by the company shall not be used for the purpose of stocks and their derivatives, securities investment funds and the above investment.
According to the surplus of its own funds, the arrangement of production and operation and the market situation of financial products, the company chooses the opportunity to buy.
4. Period of entrusted financial management
The amount of entrusted financial management of the company shall be used in rolling within 12 months from the date of deliberation and approval by the general meeting of shareholders of the company. 5. Source of funds
The company uses idle self owned funds as the source of funds for entrusted financial management, which is legal and compliant.
2、 Review procedure
According to the relevant provisions of Shenzhen Stock Exchange, such as the stock listing rules, the standardized operation of companies listed on the main board and the articles of association, this entrusted financial management plan does not involve related party transactions, and the matters of this entrusted financial management plan need to be submitted to the general meeting of shareholders of the company for deliberation.
3、 Investment risk analysis and risk control measures
1. Investment risk
The main risks faced by the company's entrusted financial management include market fluctuation risk, macroeconomic form and systemic risk brought by macro policy changes such as monetary policy, fiscal policy and industrial policy, resulting in uncertainty in the actual income of entrusted financial management.
2. Risk control measures
(1) The company will do a good job in the preliminary investigation of entrusted financial products, strictly abide by the principle of prudent investment, select stable investment varieties, and timely and appropriate intervention according to the economic situation and changes in the financial market, so as to prevent the company's investment risks and ensure the safety and effective appreciation of investment funds;
(2) Establish account management, establish and improve complete accounting accounts for the economic activities of fund use, and do a good job in the accounting of fund use;
(3) Relevant personnel of the company's financial center shall timely analyze and track the progress of financial products. If any situation that may affect the company's capital security is found, measures will be taken in time to control investment risks and ensure capital security to the greatest extent;
(4) The audit and supervision department of the company shall regularly supervise and inspect the use and custody of entrusted wealth management funds. 4、 Impact of entrusted financial management on the company
The entrusted financial management carried out by the company and its holding subsidiaries is based on the company's business development and financial status, on the premise of ensuring the funds required for the normal operation and project construction of the company and its holding subsidiaries and ensuring the safety of funds, which will not affect the normal turnover needs of the company's daily funds and the normal development of the company's main business.
The use of self owned funds for entrusted financial management is conducive to improving the utilization efficiency and income of idle funds, further improving the overall income of the company, which is in line with the interests of the company and all shareholders.
5、 Opinions of independent directors
The independent directors of the company believe that:
On the premise of not affecting normal production and operation, the company makes rational use of idle funds for entrusted financial management, which is used for investment in bank financial products and other products with controllable risks. The risk is relatively low and the income is relatively stable, which is conducive to providing the use efficiency of the company's own funds and increasing the company's investment income.
The company has established a relatively perfect internal control system and system, which can effectively control investment risks and ensure the capital safety of financial investment. There is no situation that damages the interests of the company and all shareholders, especially small and medium-sized shareholders.
We agree that the company will use idle self owned funds of no more than 800 million yuan (including 800 million yuan) to invest in low-risk short-term bank financial products; Within the limit, the funds can be used on a rolling basis for a period of 12 months from the date of deliberation and approval by the board of directors of the company, and it is agreed to authorize the management of the company to be responsible for the specific implementation of relevant matters.
6、 Documents for future reference
1. Resolution of the 40th meeting of the 9th board of directors.
It is hereby announced.
Gansu Shangfeng Cement Co.Ltd(000672) board of directors
February 18, 2022
