Securities code: Innuovo Technology Co.Ltd(000795) securities abbreviation: Innuovo Technology Co.Ltd(000795) Announcement No.: 2022014 Innuovo Technology Co.Ltd(000795)
Announcement on using idle self owned funds for entrusted financial management
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.
Important content tips:
1. Investment type: financial products with high security, good liquidity and low risk issued by banks, securities companies, trust companies and other financial institutions.
2. Investment amount: no more than 580 million yuan of idle self owned funds, and the investment period is within 12 months from the date of deliberation and approval of Innuovo Technology Co.Ltd(000795) (hereinafter referred to as “the company”) at the 2021 annual general meeting of shareholders.
3. Special risk tip: the company will intervene in a timely and appropriate manner according to the economic situation and changes in the financial market, so the actual income of financial investment is unpredictable.
1、 Overview of investment
1. Investment purpose: on the premise of not affecting the development of the company’s main business and ensuring that the capital safety risk is controllable, make rational use of idle funds, enrich the company’s phased cash management mode, further improve the use efficiency of idle funds and increase the company’s capital income.
2. Investment quota: the company plans to use its own funds of no more than RMB 580 million for entrusted financial management. Within the above limit, the funds can be recycled and used on a rolling basis. The investment amount (including the reinvestment amount of relevant investment income) at any time point within the term shall not exceed RMB 580 million.
3. Investment method: the company plans to conduct risk controllable entrusted financial management through banks, securities companies, trust companies and other financial institutions, and purchase financial products with high security, good liquidity and low risk, including bank financial products, securities firm income certificates, etc.
4. Investment period: valid within 12 months from the date of deliberation and approval by the company’s 2021 annual general meeting of shareholders. 5. Source of funds: the company’s idle self owned funds on the premise of ensuring the company’s normal production and operation capital demand and capital safety.
2、 Review procedure
The company held the fourth meeting of the ninth board of directors on March 10, 2022, and deliberated and adopted the proposal of the company on using idle self owned funds for entrusted financial management. According to the Listing Rules of Shenzhen Stock Exchange and the articles of association, this proposal needs to be submitted to the 2021 annual general meeting of shareholders of the company for deliberation. This matter does not involve related party transactions, nor does it constitute a major asset reorganization as stipulated in the measures for the administration of major asset reorganization of listed companies.
3、 Investment risk analysis and risk control measures
1. Investment risk
(1) The financial market is greatly affected by the macro-economy. It is not ruled out that the investment of financial products will be affected by market fluctuations.
(2) The company will intervene timely and appropriately according to the economic situation and changes in the financial market, so the actual income of financial investment is unpredictable.
(3) Operation and monitoring risks of relevant staff.
2. Risk control measures
(1) Authorize the management of the company to exercise relevant investment decision-making power within the above limit and sign relevant documents. The company will strictly screen issuers, conduct preliminary research on financial products, abide by the principle of prudent investment, and select stable and low-risk financial products;
(2) The specific implementation department will timely analyze and track the investment direction and progress of financial products. If adverse factors that may affect the safety of the company’s funds are found, the company will take corresponding measures in time to control investment risks; (3) The Audit Department of the company is responsible for daily supervision and audit of the use and custody of investment and wealth management funds. The independent directors and the board of supervisors of the company have the right to supervise and inspect the use of the company’s funds;
(4) The company will timely perform the obligation of information disclosure in accordance with the relevant provisions of Shenzhen Stock Exchange.
4、 Impact on the company
The company’s use of idle self owned funds for investment and financial management is implemented on the premise of ensuring the company’s daily operation and controllable risk, which will not affect the development of the company’s main business. Through timely entrusted financial management of temporarily idle self owned funds, we can improve the utilization rate of funds, obtain certain income and seek more return on investment for the company and shareholders.
5、 Opinions of independent directors
The company’s financial situation is stable. On the premise of not affecting the normal production and operation of the company and ensuring the safety of funds, using idle self owned funds for entrusted financial management is conducive to improving the efficiency of fund use and seeking better return on investment for the company and shareholders. There is no situation that damages the interests of the company and shareholders, especially small and medium-sized shareholders. The company’s internal control system is sound, which can effectively prevent investment risks and ensure the safety of the company’s funds. The company’s deliberation procedures on the use of idle self owned funds for entrusted financial management comply with the provisions of relevant laws and regulations and the articles of association, and the voting procedures are legal and effective.
In conclusion, we agree that the company will use idle self owned funds of no more than RMB 580 million for entrusted financial management, and agree to submit the proposal to the 2021 annual general meeting of shareholders of the company for deliberation.
6、 Documents for future reference
1. Resolutions of the fourth meeting of the ninth board of directors of the company;
2. Independent opinions of the company’s independent directors on matters related to the fourth meeting of the ninth board of directors.
It is hereby announced.
Innuovo Technology Co.Ltd(000795) board of directors March 12, 2002
