Securities code: Changhong Meiling Co.Ltd(000521) , 200521 securities abbreviation: Changhong Meiling Co.Ltd(000521) , hongmeiling B Announcement No.: 2022009 Changhong Meiling Co.Ltd(000521)
Announcement on the progress of subsidiaries using their own idle funds to invest in financial products
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.
According to the proposal on the company’s investment in financial products with its own idle funds adopted by Changhong Meiling Co.Ltd(000521) (hereinafter referred to as “the company” or “the company”) at the 13th meeting of the 10th board of directors, the 11th meeting of the 10th board of supervisors and the 4th extraordinary general meeting of shareholders in 2021 held on December 6 and December 23, 2021 respectively, in order to improve the efficiency of the company’s fund use, Increase the income of the company’s cash assets, maximize the interests of shareholders, and agree that the company and its subsidiaries use their own idle funds of no more than 1.3 billion yuan (the amount can be used on a rolling basis) to invest in products with high safety, good liquidity and low risk within one year on the premise of ensuring the capital demand of daily operation and effectively controlling investment risks The authorization period of prudent bank financial products shall be valid within one year from the date of deliberation and approval by the general meeting of shareholders of the company. The independent directors of the company have expressed their independent opinions in this matter.
On February 28, 2022, Zhongshan Changhong Electric Appliance Co., Ltd. (hereinafter referred to as “Zhongshan Changhong”), a subsidiary of the company, purchased the financial products of Bank Of Communications Co.Ltd(601328) Zhongshan branch with its own idle fund of 50 million yuan. The relevant information is hereby announced as follows:
1、 Main information of this purchase of financial products
On February 28, 2022, Zhongshan Changhong, a subsidiary of the company, and Bank Of Communications Co.Ltd(601328) Zhongshan branch signed Bank Of Communications Co.Ltd(601328) “Yuntong wealth” time structured deposit agreement (linked to gold dual structure), Zhongshan Changhong subscribed for Bank Of Communications Co.Ltd(601328) Yuntong wealth fixed term structured deposit 96 days (gold linked bullish) “bank financial products of Bank Of Communications Co.Ltd(601328) Zhongshan branch with its own idle fund of 50 million yuan. The details are as follows:
1. Product Name: Bank Of Communications Co.Ltd(601328) Yuntong wealth fixed-term structured deposit for 96 days (gold linked bullish) 2 Product type: Principal Guaranteed floating income type
3. Product rating: conservative product (1R)
4. Product life: 96 days
5. Value date: March 2, 2022
6. Maturity date: June 6, 2022
7. Product linked target: Shanghai Gold Exchange au99 99 contract closing price (subject to the data published on the official website of Shanghai Gold Exchange).
8. Expected rate of return: if the product is established and the bank successfully deducts the customer’s subscription principal, the bank will provide the customer with complete guarantee of the principal. High grade yield: 3.20%; Low yield: 1.85%.
(1) If the closing price of the linked target on the product observation day is less than the exercise price, the annualized yield of the current product is a low-grade yield;
(2) If the closing price of the linked target on the product observation day is greater than or equal to the exercise price, the annualized yield of the current product is a high-grade yield.
Observation date of linked target: May 31, 2022, in case of non Shanghai Gold Exchange au99 99 trading day, postponed to the next Shanghai Gold Exchange au99 99 trading days.
Exercise price: 365.00 yuan / g.
9. Total investment: 50 million yuan
10. Source of funds: Zhongshan Changhong’s own idle funds
11. Scope of investment: Bank Of Communications Co.Ltd(601328) structured deposit products raise funds, which are operated by Bank Of Communications Co.Ltd(601328) in a unified way and managed according to the principle of separating basic deposits from derivative transactions. The raised principal is included in the unified operation and management of Bank Of Communications Co.Ltd(601328) internal funds, and included in the payment scope of deposit reserve and deposit insurance premium. The derivatives embedded in the product are linked to exchange rate, interest rate, commodity, index and other targets.
12. Payment of due principal and income: Bank Of Communications Co.Ltd(601328) will pay the deposit principal of the product and the due income of the product on the product arrival date (the product maturity date).
13. Description of association relationship: the company has no association relationship with Bank Of Communications Co.Ltd(601328) company.
Zhongshan Changhong purchased Bank Of Communications Co.Ltd(601328) breakeven floating income financial products with its own idle fund of 50 million yuan, accounting for 1.030% of the company’s net assets attributable to shareholders of Listed Companies in the latest audit.
2、 Impact on the daily operation of the company
Zhongshan Changhong, a subsidiary of the company, uses its own idle funds to invest in short-term low-risk financial products on the premise of ensuring that it does not affect the use of daily operating funds. Through moderately low-risk short-term financial management, it can improve the use efficiency of funds, obtain certain investment income, further improve the performance level and obtain more investment returns for shareholders.
3、 Purchase of financial products within 12 months before the announcement date
As of the disclosure date of this announcement, the balance of financial products purchased by the company and its subsidiaries in the past 12 months and not yet due totaled 22 million yuan (including 50 million yuan purchased this time), accounting for 4.532% of the company’s latest audited net assets attributable to shareholders of listed companies. The above-mentioned financial products are financial products purchased by subsidiaries with their own idle funds. The purchase of bank financial products by the subsidiary is within the scope of authorization of the board of directors and the general meeting of shareholders of the company.
4、 Investment risk and risk control measures
(I) investment risk
1. The company and its subsidiaries choose stable financial products with high security, good liquidity and relatively low risk. However, the financial market is greatly affected by the macro-economy, and it is not ruled out that the income will be affected by market fluctuations.
2. The company and its subsidiaries will timely and appropriately intervene according to the economic situation and changes in the financial market, but the changes in the financial market are uncertain, so the actual income of financial product investment is unpredictable.
3. Operational risks of business personnel related to financial product investment.
(II) risk control measures
In order to regulate and manage the investment and transaction of financial products, ensure the safety of funds and property of the company and its subsidiaries, effectively prevent investment risks and safeguard the legitimate rights and interests of shareholders and the company, the company has formulated the investment management system of financial products, which includes the principles of financial investment, investment scope and capital source, approval authority, information disclosure, operation process Detailed provisions have been made on accounting and management, supervision and control, information confidentiality measures, etc., and the company and its subsidiaries will implement them in strict accordance with the system.
5、 Documents for future reference
1. Changhong Meiling Co.Ltd(000521) the resolution of the 13th meeting of the 10th board of directors;
2. Changhong Meiling Co.Ltd(000521) the resolution of the 11th meeting of the 10th board of supervisors;
3. Changhong Meiling Co.Ltd(000521) 2021 resolution of the fourth extraordinary general meeting of shareholders.
It is hereby announced
Changhong Meiling Co.Ltd(000521) board of directors March 2, 2002
