Securities code: 002567 securities abbreviation: Tangrenshen Group Co.Ltd(002567) Announcement No.: 2021-200 Tangrenshen Group Co.Ltd(002567)
About Hunan Danong Financing Guarantee Co., Ltd
Announcement on providing entrusted loans
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.
Tangrenshen Group Co.Ltd(002567) (hereinafter referred to as "the company" and " Tangrenshen Group Co.Ltd(002567) ") held the 44th meeting of the 8th board of directors on December 14, 2021, deliberated and approved the proposal on external entrusted loans provided by Hunan Danong Financing Guarantee Co., Ltd., and agreed to Hunan Danong Financing Guarantee Co., Ltd. (hereinafter referred to as "Danong guarantee"), a wholly-owned subsidiary of the company ）On the premise of ensuring that normal production and operation will not be affected, With its own funds, commercial banks are entrusted to provide loans of no more than 60 million yuan for the company and its subsidiaries at all levels (pig, poultry, aquatic products, etc.), dealers and raw material suppliers in the whole pig industry chain. Within the above amount, the big farmer guarantee can be rolled within the maximum amount approved by the board of directors. The details are as follows:
1、 Overview of entrusted loans
(i) Main contents of the entrusted loan
1. Entrusted loan objects: farmers of the company and its subsidiaries at all levels (pigs, poultry, aquatic products, etc.), distributors and raw material suppliers in the whole pig industry chain;
2. Entrusted loan limit: the maximum limit of entrusted loan is 60 million yuan, within which the funds can be recycled;
3. Term of entrusted loan: from January 1, 2022 to December 31, 2022;
4. Source of funds: self owned funds;
5. Interest rate and interest: the interest of Danong guarantee is calculated by floating the interest rate on the basis of the loan interest rate of the bank in the same period; 6. Principal repayment: one-time repayment of the loan;
7. Repayment guarantee: the entrusted loan object shall provide guarantee to the large farmers with its family housing, pig farm, poultry house and other breeding facilities, land use right, live pigs, poultry or aquatic products, production equipment and other properties; 8. The purpose of the entrusted loan: it is used for the company and its subsidiaries at all levels (pig, poultry, aquatic products, etc.), dealers and raw material suppliers in the whole pig industry chain to purchase the company's feed, meat products and other products; 9. Danong guarantee will sign a specific entrusted loan agreement with commercial banks and entrusted loan objects according to the entrusted loan.
（2） Approval procedure
The above matters have been deliberated and approved at the 44th meeting of the 8th board of directors of the company and need to be submitted to the general meeting of shareholders of the company for deliberation.
2、 Basic information of funded objects
1. The funded objects are farmers of the company and its subsidiaries at all levels (pigs, poultry, aquatic products, etc.), dealers and raw material suppliers in the whole pig industry chain.
2. The above entrusted loan objects are not associated with the company.
3、 Purpose of entrusted loan, risk control and opinions of the board of directors
The purpose of this entrusted loan is to use its own funds to entrust commercial banks to provide loans to the company and its subsidiaries at all levels (pig, poultry, aquatic products, etc.), dealers and raw material suppliers in the whole pig industry chain on the premise of ensuring that the normal production and operation will not be affected, so as to solve their direct capital needs.
The entrusted loan object provides guarantee to large farmers with its family housing, pig farm, poultry house and other breeding facilities, land use right, livestock pigs, poultry or aquatic products, production equipment and other properties, which can reduce the risk of default and control the project risk.
The board of directors of the company believes that this entrusted loan is to improve the use efficiency and income of idle self owned funds, with clear purpose and good guarantee for the safety of principal. The entrusted loan behavior complies with the provisions of relevant laws and regulations, does not harm the interests of the company and all shareholders, and the decision-making procedure is legal and effective.
4、 Opinions of independent directors
The independent directors believe that Hunan Danong Financing Guarantee Co., Ltd. is a farmer of the company and its subsidiaries at all levels (pigs, poultry, aquatic products, etc.), dealers and raw material suppliers in the whole pig industry chain provide entrusted loans, which can effectively solve the direct capital needs of dealers, farmers and raw material suppliers in the whole pig industry chain of the company, consolidate and implement the layout of the whole pig industry chain of the company, improve the use efficiency of idle self owned funds and increase the cost under the premise of controllable risk Income from self owned funds will not adversely affect the company's production and operation; The company's decisions comply with the provisions of relevant laws, regulations and the articles of association, and there is no damage to the interests of the company and shareholders, especially small and medium-sized shareholders. Based on the above opinions, we agree with the proposal on external entrusted loans provided by Hunan Danong Financing Guarantee Co., Ltd.
5、 Opinions of the sponsor
After verification, The sponsor believes that Hunan Danong Financing Guarantee Co., Ltd. is a farmer of the company and its subsidiaries at all levels (pigs, poultry, aquatic products, etc.), dealers and raw material suppliers in the whole pig industry chain provide entrusted loans, which can effectively solve the direct capital needs of dealers, farmers and raw material suppliers in the whole pig industry chain of the company, consolidate and implement the layout of the whole pig industry chain of the company, improve the use efficiency of idle self owned funds and increase the cost under the premise of controllable risk Income from self owned funds will not adversely affect the company's production and operation; The company's decision complies with the provisions of relevant laws, regulations and the articles of association, and there is no damage to the interests of the company and shareholders, especially small and medium-sized shareholders. The transaction has been deliberated and approved by the board of directors and needs to be submitted to the general meeting of shareholders for deliberation. The independent directors have expressed their consent, and the relevant deliberation procedures are legal and compliant.
To sum up, the sponsor has no objection to the entrusted loan provided by Hunan Danong Financing Guarantee Co., Ltd.
6、 Accumulated amount of financial assistance provided by the company and overdue amount
As of December 14, 2021, the company and its subsidiaries have provided accumulated financial assistance to the outside world, and the approved amount is 1211338000 yuan (excluding this time), accounting for 22.70% of the audited net assets of the company at the end of 2020; the overdue financial assistance amount is 8396100 yuan, accounting for 0.16% of the audited net assets of the company at the end of 2020, which is the overdue entrusted loan guaranteed by Da Nong.
Impact on the company: according to the existing accounting policies, Danong guarantee accrues impairment losses on the above overdue entrusted loans, which is expected to affect the profit of this year by about 8.27 million yuan. Please pay attention to investment risks.
The big farmer guarantee will recover the money by means of on-site collection, acquisition of the lender's breeding pigs and filing a lawsuit according to law.
It is hereby announced.
Tangrenshen Group Co.Ltd(002567) board of directors December 14, 2001
