Securities code: 688368 securities abbreviation: Shanghai Bright Power Semiconductor Co.Ltd(688368) Announcement No.: 2022-009 Shanghai Bright Power Semiconductor Co.Ltd(688368)
Announcement on using temporarily idle self owned funds to purchase financial products
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal responsibility for the authenticity, accuracy and integrity of its contents according to law.
Shanghai Bright Power Semiconductor Co.Ltd(688368) (hereinafter referred to as "the company") held the 21st Meeting of the second board of directors and the 21st Meeting of the second board of supervisors on February 23, 2022, and deliberated and adopted the proposal on the company's use of temporarily idle self owned funds to purchase financial products. On the premise of ensuring that the normal production and operation and capital safety of the company are not affected, it is agreed that the company (including subsidiaries, the same below) shall use temporary idle self owned funds of no more than RMB 800 million (including the principal) from the date of deliberation and approval of the board of directors to the date of deliberation and approval of new quota matters in the next year For low-risk financial products of financial institutions with good liquidity, the above quota can be recycled within the validity period.
The board of directors authorizes the chairman of the company to exercise the decision-making power and sign relevant contracts, agreements and other documents. The specific matters shall be organized and implemented by the Finance Department of the company. The independent directors expressed their independent opinions with explicit consent. This matter falls within the decision-making authority of the board of directors of the company and does not need to be submitted to the general meeting of shareholders of the company for deliberation. The relevant information is hereby announced as follows:
1、 Overview of using temporarily idle self owned funds to purchase financial products
(I) purpose of investment products
On the premise of not affecting the normal operation and capital safety of the company and its subsidiaries, improve the utilization rate of idle self owned funds, make rational use of self owned funds, increase the company's income and obtain more returns for the company and its shareholders. (II) types of investment products
The company and its subsidiaries intend to use idle self owned funds to purchase low-risk financial products of financial institutions with high security and good liquidity, including but not limited to structured deposits, agreed deposits, call deposits, time deposits, large certificates of deposit, income certificates, trusts and other financial products. Investment products shall not be used for pledge or investment for the purpose of securities investment.
(III) capital source and amount of investment products
The source of financial products purchased by the company is the temporarily idle self owned funds of the company and its subsidiaries, and the amount shall not exceed RMB 800 million (including this amount). Within the above limit and time limit, the funds can be recycled and used on a rolling basis.
(IV) authorization period
From the date of deliberation and approval at the 21st Meeting of the second board of directors to the date of deliberation and approval of new quota matters by the board of directors of the company in the next year.
(V) implementation mode
After being deliberated and approved by the board of directors of the company, the chairman of the company is authorized to sign relevant legal documents or make decisions on relevant matters within the validity period and limit of the above authorization. The specific investment activities are jointly organized and implemented by the Finance Department of the company.
(VI) information disclosure
The company will timely perform the obligation of information disclosure in accordance with the requirements of the company law, the securities law, the Listing Rules of Shanghai Stock Exchange on the science and innovation board and other relevant rules.
2、 Investment risk and risk control measures
(I) investment risk
The company and its subsidiaries have selected financial products with medium and low risk, high safety, good liquidity and short-term (no more than 12 months). As the financial market is greatly affected by the macro economy, the company will invest an appropriate amount of funds in time according to the economic situation and changes in the financial market, but it does not rule out that the investment is affected by market fluctuations. (II) risk control measures
1. After the approval of the board of directors, the chairman of the company is authorized to sign relevant legal documents or make decisions on relevant matters within the validity period and limit of the above authorization. The Finance Department of the company is responsible for organizing the implementation, timely analyzing and tracking the investment direction of financial products and project progress. Once adverse factors are found or judged, corresponding preservation measures must be taken in time to control investment risks.
2. In accordance with the requirements of relevant laws and regulations, the company has established and improved the special system of fund management, standardized the approval and implementation procedures of cash management, and ensured the effective development and standardized operation of cash management.
3. Independent directors and the board of supervisors have the right to supervise and inspect the use of funds, and can hire professional institutions to audit when necessary.
4. The company will perform the obligation of information disclosure in a timely manner in strict accordance with the relevant provisions of the Listing Rules of science and Innovation Board of Shanghai Stock Exchange.
3、 Impact on daily production and operation of the company
1. Based on the principles of standardized operation, risk prevention, prudent investment, value preservation and appreciation, the company and its subsidiaries used idle self owned funds to purchase financial products on the premise of ensuring daily operation, which did not affect the normal production and operation of the company and its subsidiaries.
2. The company and its subsidiaries use idle self owned funds to purchase financial products, which can improve the use efficiency of idle self owned funds, increase the company's income and obtain more returns for the company and shareholders.
4、 Review procedures and independent opinions
(I) deliberations of the board of directors and the board of supervisors
The company held the 21st Meeting of the second board of directors and the 21st Meeting of the second board of supervisors respectively on February 23, 2022, and deliberated and adopted the proposal on the company's use of temporarily idle self owned funds to purchase financial products, It is agreed that the company shall use the temporarily idle self owned funds of no more than RMB 800 million (including this amount) from the date of deliberation and approval of the board of directors to the date of deliberation and approval of the new quota by the board of directors of the next year, and purchase the low-risk financial products of financial institutions without affecting the normal production and operation of the company and ensuring the safety of funds. This matter falls within the decision-making authority of the board of directors of the company and does not need to be submitted to the general meeting of shareholders for deliberation. (II) opinions of independent directors
The independent directors of the company believe that the company plans to use up to 800 million yuan of idle self owned funds to buy financial products of financial institutions with low and medium risk, high safety and good liquidity, which improves the efficiency of the company's capital use, makes rational use of idle self owned funds, maintains capital liquidity, increases the company's income, and can seek more return on investment for the company and shareholders, It will not affect the normal operation of the company.
In conclusion, the independent directors of the company agree that the company plans to use no more than 800 million yuan (including this amount) to temporarily idle its own funds to purchase financial products.
It is hereby announced.
Shanghai Bright Power Semiconductor Co.Ltd(688368) board of directors February 24, 2022
