Securities code: 002692 securities abbreviation: St remote Announcement No.: 2022-012 Yuan Cheng Cable Co.Ltd(002692)
About the company’s application for comprehensive credit line in 2022
And provide the related parties with the announcement of counter guarantee and related party transactions
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.
Special tips:
(I) Yuan Cheng Cable Co.Ltd(002692) (hereinafter referred to as “the company” or “the company”) the proposal on the company’s application for comprehensive credit line in 2022 was deliberated and adopted at the 18th meeting of the Fourth Board of directors on February 24, 2022.
(II) the guarantor: Jiangsu Asset Management Co., Ltd. (hereinafter referred to as “Jiangsu asset”) the parent company of the controlling shareholder of the company.
(III) amount of this counter guarantee: no more than 1.2 billion yuan.
(IV) this guarantee is the counter guarantee that the company accepts the asset guarantee of Jiangsu, the parent company of the controlling shareholder. This counter guarantee constitutes a connected transaction.
(V) according to article 6.2.12 of the guidelines for self regulation of listed companies No. 1 – standardized operation of listed companies on the main board (revised in 2022) “The counter guarantee provided by the listed company and its holding subsidiaries shall be implemented in accordance with the relevant provisions of the guarantee, and the corresponding review procedures and information disclosure obligations shall be performed based on the amount of the counter guarantee provided by the listed company and its holding subsidiaries, except for the counter guarantee provided by the listed company and its holding subsidiaries for the guarantee based on its own debts”. The counter guarantee provided by the company for the guarantee based on its own debt is exempted from the corresponding review procedures.
(VI) this connected transaction does not constitute a major asset reorganization as stipulated in the administrative measures for major asset reorganization of listed companies.
1、 Overview
According to the needs of the company’s operation and development, in order to ensure normal capital turnover, the company and its wholly-owned subsidiaries intend to apply for a comprehensive financing credit amount of no more than 3.12 billion yuan from China’s Bank Of Communications Co.Ltd(601328) , Agricultural Bank Of China Limited(601288) , Industrial And Commercial Bank Of China Limited(601398) , Bank Of Beijing Co.Ltd(601169) , Industrial Bank Co.Ltd(601166) , Bank Of Ningbo Co.Ltd(002142) , China Merchants Bank Co.Ltd(600036) , Ping An Bank Co.Ltd(000001) and other financial institutions. Jiangsu assets, the parent company of the controlling shareholder of the company, will provide joint and several liability guarantee with a total amount of no more than 1.2 billion yuan for the company and its wholly-owned subsidiaries within the above limit. The company and its wholly-owned subsidiaries will provide counter guarantee with limited liability in the same amount and the same period to Jiangsu assets with all their assets as the above financing (subject to the approval of the superior competent department).
2、 Introduction to related parties and the guaranteed
1. Basic information
Company name: Jiangsu Asset Management Co., Ltd
Address: No. 8, first financial street, Wuxi Economic Development Zone
Legal representative: Tang Xingliang
Registered capital: 7199.0464 million yuan
Unified social credit Code: 91320200067695492h
Nature of enterprise: limited liability company
Date of establishment: May 16, 2013
Major shareholder: Wuxi Guolian development (Group) Co., Ltd
Actual controller: state owned assets supervision and Administration Commission of Wuxi Municipal People’s Government
Business scope: batch transfer of non-performing financial assets in Jiangsu Province; Engage in the merger, acquisition and reorganization of enterprise assets (except those prohibited by laws and regulations); outbound investment; Entrusted asset management; Enterprise project planning; Enterprise listing and risk management services; Entrusted to manage private equity investment funds and engage in investment management and related consulting services; Enterprise bankruptcy liquidation services.
2. Main business and financial data
Jiangsu asset is one of the first batch of local AMCs approved by Jiangsu Provincial People’s government and China Banking and Insurance Regulatory Commission. It is also the first provincial asset management company in China. It mainly focuses on the operation of special assets, and its business scope covers investment management, enterprise rescue, consulting, financial services, etc. Since its establishment, it has established cooperative relations with more than 100 financial institutions, resolved the scale of special assets of more than 140 billion yuan, and won AAA main credit rating.
Main financial data:
Unit: 10000 yuan
Subject: September 30, 2021 December 31, 2020
Total assets 2552601.85 2124487.27
Total liabilities 1563105.50 1173054.32
Total amount involved in contingencies 22360.23 23661.75
Net assets 989496.35 951432.95
January September 2021 2020
Operating income 323276.53 391127.62
Total profit 70033.01 100307.42
Net profit 50394.62 76895.03
3. Relationship with the company
Jiangsu assets is the parent company of Wuxi Su Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) optimization and adjustment investment partnership (limited partnership) and Lianxin Asset Management Co., Ltd., the controlling shareholder of the company. According to the relevant provisions of the stock listing rules of Shenzhen Stock Exchange, Jiangsu assets is the affiliated legal person of the company.
4. Jiangsu’s assets are in good credit condition, and there is no overdue loan, so it is not a dishonest executee. 3、 Purpose of guarantee and its impact on Listed Companies
The purpose of this financing is to meet the capital needs of the company’s production and operation activities, promote the healthy and stable development of the company, and meet the interests of the company and all shareholders; Jiangsu assets provides guarantee for the financing matters of the company and its wholly-owned subsidiaries in order to support the development of the company and ensure the orderly development of the above financing matters; Since Jiangsu assets is the parent company of the controlling shareholder of the company, the counter guarantee provided by the company for the above guarantee matters is due to the needs of internal risk control of Jiangsu assets and the counter guarantee provided for the company’s guarantee based on its own debt. There is no transfer of benefits to related parties and will not have an adverse impact on the company’s financial status, operating results and independence, Nor did it harm the interests of the company’s shareholders, especially the minority shareholders.
4、 Accumulated external guarantees and overdue guarantees
As of the date of this announcement, in addition to the counter guarantee provided by the company to Jiangsu assets, the guarantee balance of the company to its subsidiaries was 300 million yuan, accounting for 31.46% of the net assets attributable to the shareholders of the listed company at the end of 2020; The balance of illegal external guarantees was 17.8806 million yuan, accounting for 1.88% of the net assets attributable to shareholders of listed companies at the end of 2020. As of the date of this announcement, the company has no overdue guarantee.
5、 Documents for future reference
1. Resolution of the 18th meeting of the 4th board of directors of the company.
Yuan Cheng Cable Co.Ltd(002692) board of directors February 24, 2002
