Securities code: Svg Tech Group Co.Ltd(300331) securities abbreviation: Svg Tech Group Co.Ltd(300331) Announcement No.: 2022023 Svg Tech Group Co.Ltd(300331)
Announcement on using some idle self owned funds for cash 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.
In order to improve the use efficiency of funds and enhance the economic benefits of the company, Svg Tech Group Co.Ltd(300331) (hereinafter referred to as "the company") deliberated and adopted the proposal on using some idle self owned funds for cash management at the fourth meeting of the Fifth Board of directors held on March 11, 2022, It is agreed that the company and its subsidiaries use the short-term idle self owned funds with a quota of no more than RMB 400 million to purchase principal guaranteed financial products with low risk and high liquidity for a period of one year. Within the above quota, the funds can be used on a rolling basis. The details are hereby announced as follows:
1、 Overview of investment and financial management
1. Investment purpose
In order to improve the efficiency of capital use, under the condition of ensuring the daily operation and capital safety of the company, the company plans to use short-term idle self owned funds to purchase principal guaranteed financial products, so as to increase the income of the company's cash assets.
2. Investment quota
The company plans to use short-term idle self owned funds of no more than RMB 400 million to purchase principal guaranteed financial products. Within the above limit, the funds can be used on a rolling basis.
3. Investment varieties
The company uses idle funds to invest in short-term principal guaranteed financial products within 12 months. In order to control risks, the funds within the above limit can only be used to purchase short-term principal guaranteed financial products within 12 months, and shall not be used for securities investment, and shall not buy financial products with stocks, derivatives and unsecured bonds as the investment object.
4. Investment period
It shall be valid for one year from the date of deliberation and approval by the general meeting of shareholders. The investment period of a single short-term financial product shall not exceed 12 months.
5. Source of funds
The company's short-term idle self owned funds will not affect the company's normal capital demand.
6. Decision making procedure
The proposal has been deliberated and approved at the fourth meeting of the Fifth Board of directors of the company and needs to be submitted to the first extraordinary general meeting of shareholders of the company in 2022. The board of directors of the company requests the general meeting of shareholders to authorize the operation and management to exercise the investment decision-making power, and the finance department is responsible for the specific purchase.
7. Information disclosure
The company will perform the obligation of information disclosure on the purchased financial products in the periodic report, including the amount, term and income of the purchased financial products.
2、 Investment risk analysis and risk control measures
1. Investment risk
(1) Although short-term principal guaranteed financial products belong to low-risk investment varieties, the financial market is greatly affected by the macro-economy, and it is not ruled out that the investment is affected by market fluctuations;
(2) The company will determine the investment amount and investment period according to the assets and business plan, but the investment varieties may have floating income, so the actual income of short-term investment is unpredictable.
2. Risk control measures
The company will implement cash management in strict accordance with relevant regulations to ensure effective risk prevention and fund safety:
(1) The company will strictly abide by the principle of prudent investment and choose low-risk investment varieties. It shall not be used for other securities investment, and shall not purchase financial products with stocks and their derivatives and unsecured bonds as the investment object.
(2) The Finance Department of the company will timely analyze and track the investment direction of financial products and the progress of the project. If it is found that there are risk factors that may affect the safety of the company's funds, it will take corresponding measures in time to control the investment risk. (3) The internal audit department of the company shall conduct daily supervision on the use and custody of financial funds, and regularly audit and verify the use of financial funds.
(4) The independent directors and the board of supervisors of the company have the right to supervise and inspect the use of funds, and can hire professional institutions to audit when necessary.
(5) The company will disclose the purchase and profit and loss of financial products during the reporting period in the regular report in accordance with the relevant provisions of Shenzhen Stock Exchange.
3、 Impact on the company's operation
1. The company's purchase of short-term principal guaranteed financial products with idle self owned funds is implemented on the premise of ensuring the company's daily operation and capital safety, which will not affect the company's daily capital turnover needs and the normal development of the company's main business.
2. Appropriate investment in short-term principal guaranteed financial products will help to improve the use efficiency of the company's idle self owned funds, obtain certain capital income, and bring more investment income to the company and all shareholders. 4、 Opinions of independent directors
After careful review, the independent directors of the company believe that the decision-making procedure of the company for cash management using idle self owned funds this time complies with the relevant provisions of the guidelines for self discipline supervision of listed companies of Shenzhen Stock Exchange No. 2 - standardized operation of companies listed on GEM, the articles of association and so on. The current financial situation of the company is stable. Under the condition of ensuring the daily operation and capital safety of the company, using idle funds to purchase principal guaranteed financial products is conducive to improving the use efficiency of the company's funds and increasing the company's capital income on the premise of controlling risks, without adverse impact on the company's business activities and damaging the company and all shareholders, Especially the interests of minority shareholders. Therefore, it is unanimously agreed that the company and its subsidiaries use idle self owned funds of no more than RMB 400 million to buy principal guaranteed financial products with low risk and high liquidity.
5、 Verification opinions of the recommendation institution
Upon verification, Soochow Securities Co.Ltd(601555) believes that:
The company's use of some idle self owned funds for cash management has been deliberated and approved at the fourth meeting of the Fifth Board of directors and the fourth meeting of the Fifth Board of supervisors, and the independent directors have expressed their consent and fulfilled the necessary deliberation procedures, In compliance with the requirements of laws and regulations such as Shenzhen Stock Exchange GEM Listing Rules, Shenzhen Stock Exchange self regulatory guidelines for listed companies No. 2 - standardized operation of GEM listed companies, the company has formulated corresponding risk control measures, and the use of idle self owned funds for cash management will not affect the normal development of the company's business activities, There is no situation that damages the interests of the company and all shareholders.
To sum up, Soochow Securities Co.Ltd(601555) has no objection to the company's use of some idle self owned funds for cash management.
6、 Documents for future reference
1. Resolutions of the 4th meeting of the 5th board of directors of the company;
2. Independent opinions of the company's independent directors on matters related to the fourth meeting of the Fifth Board of directors;
3. Resolutions of the 4th meeting of the 5th board of supervisors of the company;
4. Verification opinions of the recommendation institution. It is hereby announced.
Svg Tech Group Co.Ltd(300331) board of directors
March 11, 2022
