Securities code: Zhejiang Satellite Petrochemical Co.Ltd(002648) securities abbreviation: Satellite chemistry Announcement No.: 2022026 satellite Chemistry Co., Ltd
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.
Satellite Chemical Co., Ltd. (hereinafter referred to as "the company") held the 13th meeting of the 4th board of directors and the 12th meeting of the 4th board of supervisors on March 18, 2022, deliberated and adopted the proposal on using idle self owned funds for cash management. In order to improve the use efficiency of idle self owned funds of the company and its subsidiaries, increase the income of cash assets, maximize the interests of shareholders, and ensure the capital demand of daily operation Under the condition of effectively controlling investment risks, the company and its subsidiaries intend to use idle self owned funds of no more than RMB 2 billion (including this amount) to purchase cash management products (including but not limited to certificates of time deposit, structured deposits, agreement deposits and financial products) issued by banks, securities companies or trust companies and other financial institutions with high safety and Liquidity within 12 months from the date of deliberation and approval by the board of directors of the company, The relevant matters are hereby announced as follows:
1、 Basic information of cash management using idle self owned funds this time
(I) investment purpose
In order to improve the use efficiency of idle self owned funds of the company and its subsidiaries, increase the income of cash assets and maximize the interests of shareholders under the condition of ensuring the capital demand of daily operation and effectively controlling investment risks.
(II) amount and term
According to the current use of funds of the company and its subsidiaries and considering maintaining sufficient liquidity, the company and its subsidiaries intend to use idle self owned funds of no more than RMB 2 billion (including this amount) for cash management. The period is 12 months from the date of deliberation and approval by the board of directors of the company, which can be recycled and used within the validity period of the above quota and resolution.
(III) investment varieties
In order to control risks, the varieties of investment with idle self owned funds are cash management products issued by banks, securities companies or trust companies with high safety and good liquidity (including but not limited to time deposit certificates, structured deposits, agreement deposits and financial products), which do not involve venture capital varieties specified in the guidelines for self discipline supervision of listed companies of Shenzhen Stock Exchange No. 1 - standardized operation of listed companies on the main board, It does not involve investing in domestic and foreign stocks, securities investment funds and other securities and their derivatives, and purchasing financial products with stocks, interest rates, exchange rates and their derivatives as investment objects from banks and other financial institutions. The term of investment products shall not exceed 12 months.
(IV) validity of the resolution
The term is within 12 months from the date of deliberation and approval by the board of directors of the company.
(V) source of funds
Some idle self owned funds of the company and its subsidiaries.
(VI) implementation mode
Within the scope of the above investment quota, the chairman is authorized to exercise investment decisions and sign relevant contract documents, including but not limited to: selecting qualified institutions, cash management varieties, clarifying investment amount, investment period, signing contracts or agreements, etc. The financial department of the company is responsible for organizing the implementation and establishing the investment account.
(VII) relationship
The company and its subsidiaries have no relationship with financial institutions providing cash management products.
(VIII) information disclosure
The company will timely fulfill the obligation of information disclosure in accordance with the relevant requirements such as the stock listing rules of Shenzhen Stock Exchange, the self regulatory guidelines for listed companies of Shenzhen Stock Exchange No. 1 - standardized operation of listed companies on the main board, and the self regulatory guidelines for listed companies of Shenzhen Stock Exchange No. 2 - announcement format.
2、 Investment risk analysis and risk control measures
(I) investment risk
1. Although short-term cash management products belong to low-risk investment varieties, the financial market is greatly affected by macro-economy, and it is not excluded that the investment is affected by market fluctuations;
2. The company and its subsidiaries will timely and appropriately intervene according to the economic situation and changes in the financial market, so the actual income of short-term investment is unpredictable;
3. The relevant staff have the risk of illegal operation and out of control supervision.
(II) risk control measures
1. When purchasing cash management products, the company and its subsidiaries will choose investment products with good liquidity, high security and a term of no more than 12 months, and clarify the amount, term, investment varieties, rights, obligations and legal liabilities of both parties;
2. The financial department of the company shall establish an investment account and timely analyze and track the changes in the net value of products. If it is found that there are risk factors that may affect the capital safety of the company and its subsidiaries, it will take corresponding measures in time to control the investment risk;
3. 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. The company's internal audit institution is responsible for conducting a comprehensive inspection of the products, reasonably predicting the possible risks and benefits of various investments according to the principle of prudence, and regularly reporting to the audit committee of the board of directors;
5. The company will disclose the purchase and profit and loss of cash management products during the reporting period in the periodic report in accordance with the relevant provisions of Shenzhen Stock Exchange.
3、 Impact on the company
The company insists on standardized operation. Under the condition of ensuring the normal operation of the company and its subsidiaries, it uses some idle self owned funds for cash management, which will not affect the normal development of the main business of the company and its subsidiaries. At the same time, it can improve the efficiency of fund use, obtain certain income and obtain more returns for the company and its shareholders.
4、 Opinions of independent directors
After careful review, we believe that under the condition of ensuring the capital demand for daily operation and effectively controlling investment risks, we unanimously agree that the company and its subsidiaries use idle self owned funds of no more than RMB 2 billion (including this amount) to buy banks with high security and good liquidity Cash management products issued by financial institutions such as securities companies or trust companies (including but not limited to certificates of deposit, structured deposits, agreement deposits and financial products, etc.) can be used circularly and continuously within the validity period of the above quota and resolution within 12 months from the date of deliberation and approval by the board of directors of the company, which is conducive to improving the use efficiency of idle self owned funds of the company and its subsidiaries and increasing the income of cash assets, Maximize the interests of shareholders.
5、 Documents for future reference
1. Resolutions of the 13th meeting of the 4th board of directors of the company;
2. Resolutions of the 12th meeting of the 4th board of supervisors of the company;
3. Independent opinions of independent directors on matters related to the 13th meeting of the Fourth Board of directors.
It is hereby announced.
Board of directors of satellite Chemical Co., Ltd. March 22, 2002
