Securities code: Sinomag Technology Co.Ltd(300835) securities abbreviation: Sinomag Technology Co.Ltd(300835) Announcement No.: 2021015
Sinomag Technology Co.Ltd(300835)
Announcement on the application for comprehensive credit line by the company and its subsidiaries
The company and all directors and supervisors guarantee that the contents of the announcement are true, accurate and complete, and there are no false records, misleading statements or major omissions in the announcement.
Sinomag Technology Co.Ltd(300835) (hereinafter referred to as "the company") held the 14th meeting of the 5th board of directors and the 10th meeting of the 5th board of supervisors on March 14, 2022, and deliberated and adopted the proposal on the application of comprehensive credit line by the company and its subsidiaries. The details are as follows:
1、 Overview of applying for comprehensive credit line
In order to meet the capital needs of the company's production and operation and strategy implementation, the company plans to apply to banks and other financial institutions for a comprehensive credit line of no more than 500 million yuan. The comprehensive credit types include but are not limited to domestic and foreign currency loans, bank acceptances, letters of credit, letter of guarantee, trade financing, factoring financing, forward foreign exchange settlement and sales and other businesses. The type of credit business and credit line shall be subject to the actual approval results of the bank, and the specific amount shall be determined by the company according to the actual business needs; Within the credit term, the credit line can be recycled without the company issuing another resolution. The above credit line is not equal to the actual financing amount of the company. The actual financing amount is within the total credit line, and the actual financing amount of each financial institution, the company and subsidiaries shall prevail.
The board of directors requests the general meeting of shareholders to authorize the chairman or his authorized representative to sign the contracts, agreements and other legal documents related to the above credit line of the company (including but not limited to credit, loan, guarantee, mortgage and pledge, financing, etc.) and go through relevant procedures.
The validity period of the credit line is from the date of adoption of the resolution of the general meeting of shareholders deliberating this proposal to the date of convening the general meeting of shareholders deliberating the annual credit line in the next year. The company's application for comprehensive credit line needs to be submitted to the general meeting of shareholders for deliberation.
2、 Relevant review procedures and opinions
1. Independent opinions of independent directors
The company's application for comprehensive credit line from financial institutions conforms to the actual situation of the company, which is conducive to supporting the development of the company, does not harm the interests of minority shareholders, and will not have an adverse impact on the operation of the company. Therefore, we agree with the relevant contents of this matter. And agreed to submit the matter to the general meeting of shareholders for deliberation.
2. Review opinions of the board of directors and the board of supervisors
According to the company's business plan in 2022, the company and its subsidiaries apply to financial institutions for a comprehensive credit line of no more than 500 million yuan, which can be recycled within the above limit. Each company operated well in 2021, with stable financial indicators, and was able to repay bank loans and other financing at the agreed time. The board of directors and the board of supervisors agreed to the proposal.
8、 Documents for future reference
1. Resolutions of the 14th meeting of the 5th board of directors;
2. Resolutions of the 10th meeting of the 5th board of supervisors;
3. Independent opinions of independent directors on matters related to the 14th meeting of the 5th board of directors;
4. Other documents required by Shenzhen stock exchange for future reference.
It is hereby announced
Sinomag Technology Co.Ltd(300835) board of directors March 15, 2022
