Securities code: Wuxi Chipown Micro-Electronics Limited(688508) securities abbreviation: Wuxi Chipown Micro-Electronics Limited(688508) Announcement No.: 2022016 Wuxi Chipown Micro-Electronics Limited(688508)
Announcement on using self owned funds for cash management
The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete without false records, misleading statements or major omissions, and bear individual and joint legal liabilities for the authenticity, accuracy and integrity of the contents.
Important content tips:
● cash management amount: the maximum balance in a single day shall not exceed RMB 60 million (including this amount). Within the above limit, the funds can be used on a rolling basis;
● types of cash management products: purchase financial products or deposit products with high security and good liquidity; ● cash management period: within 12 months from the date of deliberation and approval by the general meeting of shareholders of the company;
● review procedures for implementation:
On March 17, 2022, the company held the 9th meeting of the 4th board of directors and the 9th meeting of the 4th board of supervisors, and deliberated and adopted the proposal on cash management with its own funds respectively; The independent directors of the company also expressed independent opinions and agreed that the company would use idle self owned funds for cash management.
1、 Overview of cash management with self owned funds
(I) purpose of cash management
In order to improve the use efficiency of the company's funds and increase the company's income and shareholder return, the company plans to use idle self owned funds for cash management on the premise of ensuring that the normal development of the company's main business is not affected and the demand for working capital and risk are controllable.
(II) source of funds
The capital source of the company's proposed cash management is the company's own funds temporarily idle, which will not affect the normal operation of the company.
(III) amount and term
Use the temporarily idle self owned funds with the maximum balance of no more than 600 million yuan (including this amount) in a single day for cash management. Within the authorized limit, the company can use it on a rolling basis.
(IV) investment varieties
The company will strictly control risks in accordance with relevant regulations and use idle self owned funds to buy financial products or deposit products with high security and good liquidity.
(V) implementation mode
The company authorizes the chairman to exercise the decision-making power within the validity period and limit, and the specific matters shall be organized and implemented by the financial department of the company. The authorization period is within 12 months from the date of deliberation and approval by the general meeting of shareholders of the company.
(VI) information disclosure
The company will perform the obligation of information disclosure in a timely manner in strict accordance with the requirements of the company law, the securities law, the Listing Rules of science and Innovation Board of Shanghai Stock Exchange and other relevant rules.
2、 Impact on the daily operation of the company
The company's use of idle self owned funds for cash management is carried out on the premise of ensuring that it does not affect the normal development of the company's main business and that the demand for working capital and risk are controllable. Cash management helps to improve the efficiency of the company's capital use and increase the company's overall income, so as to seek more return on investment for the company and shareholders.
3、 Investment risk and risk control measures
(I) investment risk
In order to control risks, when the company conducts cash management, it selects financial products or deposit products with high safety and good liquidity. The overall risk is controllable, but the financial market is greatly affected by the macro economy. The company will intervene in a timely and appropriate amount according to the economic situation and changes in the financial market, but it does not rule out that the investment is affected by market fluctuations.
(II) risk control measures
1. In order to control risks, the company will choose financial products or deposit products with high security and good liquidity when managing cash. The investment risk is small and within the controllable range of the enterprise.
2. The finance department will analyze and track the net value change of the products in real time. If the evaluation finds that there are risk factors that may affect the capital safety of the company, it will take corresponding measures in time to control the investment risk.
3. The finance department shall establish an account to manage the purchased products, establish and improve the accounting accounts, and do a good job in the accounting of the use of funds.
4. Independent directors and the board of supervisors have the right to supervise and inspect the use of funds, and can hire professional institutions to audit when necessary.
4、 Approval procedure
On March 17, 2022, Wuxi Chipown Micro-Electronics Limited(688508) held the 9th meeting of the 4th board of directors and the 9th meeting of the 4th board of supervisors, deliberated and adopted the proposal on cash management with self owned funds, in order to further improve the efficiency and income level of funds under the condition of ensuring the capital demand of the company's production and operation, It is agreed that the company will use some idle self owned funds with a maximum balance of no more than 600 million yuan (including this amount) in a single day for cash management.
5、 Description of special opinions
(I) opinions of independent directors
On the premise of not affecting the normal development of the company's main business and ensuring that the demand for working capital and risk are controllable, the company uses the temporarily idle self owned funds with a maximum balance of no more than 60 million yuan per day for cash management, which can improve the efficiency and effect of the company's idle self owned funds, further improve the overall income of the company and meet the interests of all shareholders. The company is approved to use idle self owned funds for cash management.
(II) opinions of the board of supervisors
The company uses some temporarily idle self owned funds for cash management, which can be recycled within the authorized amount, which is conducive to improving the use efficiency of idle self owned funds and increasing the overall income of the company. There is no damage to the interests of the company and shareholders, does not affect the normal production and operation of the company, and meets the requirements of relevant laws and regulations. The company is approved to use idle self owned funds for cash management.
6、 Online announcement attachment
1. Independent opinions of independent directors on matters related to the ninth meeting of the Fourth Board of directors;
2. Announcement of the resolution of the 9th meeting of the 4th board of supervisors.
It is hereby announced.
Wuxi Chipown Micro-Electronics Limited(688508) board of directors March 18, 2022
