Securities code: Guangdonghectechnologyholdingco.Ltd(600673) securities abbreviation: Guangdonghectechnologyholdingco.Ltd(600673) No.: Lin 202235 bond Code: 163049 bond abbreviation: 19 dongke 02
Guangdonghectechnologyholdingco.Ltd(600673)
Announcement on carrying out bill pool business in 2022
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents Guangdonghectechnologyholdingco.Ltd(600673) (hereinafter referred to as “the company”) convened the 15th meeting of the 11th board of directors and the 10th meeting of the 11th board of supervisors on March 25, 2022, deliberated and adopted the proposal on developing bill pool business in 2022. The details are as follows:
1、 Overview of bill pool business
(I) Business Overview
Bill pool business is a comprehensive bill management service that integrates bill trusteeship and collection, bill pledge pool financing, bill discount, Bill agent query, business statistics and other functions provided by cooperative banks to meet the needs of enterprises for unified management and overall use of commercial bills held by enterprises.
The company and its subsidiaries within the consolidation scope can carry out financing business within their respective pledge limits. When their own pledge limits cannot be used, they can apply to occupy the pledge limits of other member companies in the bill pool. When the pledged bills are due, they are deposited into the margin account to form a pledge / guarantee limit together with the pledged bills. The limit can be used on a rolling basis, and the margin balance can be replaced with new bills.
(II) business implementation subject
The company and its subsidiaries within the scope of consolidated statements.
(III) cooperative bank
The cooperative bank to carry out the bill pool business is a commercial bank with good credit standing in China. The specific cooperative bank shall be selected by the management of the company authorized by the general meeting of shareholders according to the business scope, qualification, Bill pool service capacity and other comprehensive factors of the commercial bank.
(IV) implementation period
The implementation period of the above note pool business is from the date of deliberation and approval at the 2021 annual general meeting to the date of convening the 2022 annual general meeting.
(V) implementation quota
The company and its subsidiaries within the consolidation scope share a bill pool limit with a maximum amount of no more than 3 billion yuan, that is, the cumulative spot balance of pledged and mortgaged bills used to carry out bill pool business with all cooperative banks does not exceed 3 billion yuan. Within the above quota and business term, it can be used circularly. The specific amount of each transaction shall be submitted to the general meeting of shareholders of the company to authorize the management of the company to determine according to the business needs of the company and its subsidiaries within the scope of merger.
2、 Purpose of bill pool business
(I) by carrying out the bill pool business, the company deposits the received bills into the cooperative bank for centralized management, and the bank handles custody, collection and other businesses on behalf of the bank, which can reduce the cost of bill management and reduce the risk of receiving fake bills, defective bills and other abnormal bills;
(II) the development of bill pool business can realize the unified management and overall use of bills within the company, help to solve the imbalance between bill supply and demand between the company and its subsidiaries, activate the time value of bills and comprehensively revitalize bill resources;
(III) the company can use the bill pool to improve the flexibility of financing, use the outstanding stock bills as pledge, and issue bills not exceeding the pledge amount to pay the amount incurred in daily operation, which is conducive to reducing the occupation of monetary funds, improving the use efficiency of current assets and maximizing shareholders’ equity;
(IV) the bill pool business can comprehensively manage the company’s bills receivable and bills payable to be issued, reduce the company’s capital occupation, optimize the financial structure and improve the capital utilization rate.
3、 Risk and risk control of bill pool business
(I) liquidity risk
To carry out the bill pool business, the company needs to open a special margin account for the pledge financing business of the bill pool in the cooperative bank as the entry account for the due collection of the pledged bills under the bill pool. If the due dates of notes receivable and notes payable are inconsistent, the collected funds will enter the margin account where the company applies to the cooperative bank for issuing commercial bills, which will have a certain impact on the liquidity of the company’s funds.
Risk control measures: the company can eliminate this impact by replacing the margin with newly received notes, and the capital liquidity risk is controllable.
(II) guarantee risk
The company uses the bills entering the bill pool as a pledge and applies to the cooperative bank for issuing bills to pay for the payment of suppliers and other daily operations. With the maturity of the pledged bills, the company handles the collection and settlement. If the bills cannot be collected normally when they are due, the amount of the pledged bills is insufficient, resulting in the cooperative bank requiring the company to provide additional guarantee.
Risk control measures: after the company and the cooperative bank carry out the bill pool business, the company will arrange special personnel to connect with the cooperative bank, establish the bill pool account tracking management, timely understand the collection and settlement of expired bills and arrange the company’s newly received bills into the pool, so as to ensure the safety and liquidity of the bills into the pool.
4、 Decision making procedure and organization implementation
(I) within the above quota and business term, submit to the general meeting of shareholders to authorize the management of the company to exercise the decision-making power of specific operations and sign relevant contracts and other legal documents, including but not limited to selecting qualified commercial banks, determining the specific quota, collateral, guarantee form and amount of note pool that can be used by the company and subsidiaries within the scope of merger;
(II) authorize the financial department of the company to be responsible for organizing the implementation of the bill pool business, and timely analyze and track the progress of the bill pool business. If adverse factors are found or judged, timely take corresponding measures to control risks, and timely report to the board of directors;
(III) the company’s internal audit department is responsible for auditing and supervising the development of bill pool business; (IV) the independent directors and the board of supervisors have the right to supervise and inspect the specific conditions of the company’s bill pool business, and can hire professional institutions to audit when necessary.
5、 Deliberations
The 11th meeting of the board of directors and the 15th meeting of the board of supervisors deliberated and adopted the proposal.
(II) the independent directors expressed their independent opinions on this matter and believed that the company’s bill pool business is conducive to reducing the cost of the company’s bill management, comprehensively revitalizing the bill resources, reducing the occupation of monetary funds, improving the use efficiency of current assets and maximizing the shareholders’ rights and interests. Agree to submit the proposal to the general meeting of shareholders for deliberation.
(III) the matter shall also be submitted to the general meeting of shareholders for deliberation.
It is hereby announced.
Guangdonghectechnologyholdingco.Ltd(600673) March 26, 2022
