Securities code: Shanghai Huayi Group Corporation Limited(600623) 900909 stock abbreviation: Shanghai Huayi Group Corporation Limited(600623) Huayi B share No.: pro 2022020 Shanghai Huayi Group Corporation Limited(600623)
Announcement on continuing to carry out bill pledge pool business
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.
Shanghai Huayi Group Corporation Limited(600623) (hereinafter referred to as “the company”) held the 17th meeting of the 10th board of directors on March 25, 2022. The meeting deliberated and adopted the proposal on continuing the business of bill pledge pool. In order to improve the use efficiency of bills receivable and reduce the occupation of monetary funds, the company continues to use the bill pool (including pledge pool) as the implementation carrier and operation platform of bill management, and the business quota of bill pool is RMB 4 billion.
1、 Bill pledge pool business overview
1. Business introduction
Bill pledge pool business refers to the cooperative financial institutions providing commercial bill pledge financing services according to the needs of the company on the basis of providing a package of services such as commercial bill identification, query, custody and collection for the company and its holding subsidiaries, that is, carrying out working capital loans, bank acceptance bills, non financing letter of guarantee Import letter of credit, China letter of credit and other businesses are a comprehensive bill value-added service to ensure the operation needs of the company.
2. Scope
The scope of coverage is the company and the company’s holding subsidiaries and their subordinate enterprises approved by the company. Enterprises that are permitted to join this bill pledge pool are collectively referred to as pool entry enterprises.
3. Cooperative bank
According to the cooperative relationship with commercial banks and the service capacity of commercial banks’ bill pool business, the company selects appropriate commercial banks as the cooperative banks of bill pool business, and authorizes the management of the company to sign relevant cooperation agreements with the final cooperative banks.
4. Implementation quota and business term
The company applies for a bill pledge pool business limit of no more than RMB 4 billion, that is, the total spot balance of pledged bills and mortgaged bills used to carry out bill pool business with all cooperative banks shall not exceed RMB 4 billion. This limit can be recycled within the business term. The specific period shall be subject to the contract signed between the company and the cooperative bank.
5. Guarantee mode
The guarantees involved in the business process of the bill pledge pool are those provided by the enterprises entering the pool for themselves, and there is no case that the company provides guarantees for the holding subsidiaries or between the holding subsidiaries. Pool entry enterprises only handle relevant pledge business with their own pool entry bills.
6. Operation mode
After the pooled enterprise pledges the pooled bills to the cooperative bank, the pledge guarantee limit of the bill pledge pool is formed. On the premise of controllable risk, the enterprises entering the pool can use single or combined financing methods such as bill pledge guarantee, deposit guarantee, mortgage guarantee, guarantee and credit line approved by the bank, and the financing limit shall be approved by the company according to the specific situation.
7. Specific implementing agency
Authorize the holding subsidiary Shanghai Shanghai Huayi Group Corporation Limited(600623) Finance Co., Ltd. (hereinafter referred to as “finance company”) to manage the company’s bill pool.
2、 Purpose of building bill pledge pool
Carrying out bill pledge financing business can realize the overall use of the company’s overall bill resources, improve the company’s capital and asset structure, achieve the optimal allocation of the company’s bill assets and financing, and maximize the rights and interests of the company and shareholders.
1. Solve the problem of mismatching the term and amount of bills received and paid in purchase and sales activities, revitalize the bill assets of enterprises, enhance liquidity, save capital costs and improve the economic benefits of bill resources.
2. Reallocate and use bill resources to improve the management efficiency of bill resources.
3、 Risk and risk control of bill pledge pool
1. Liquidity risk
There are inconsistencies in the maturity dates of notes receivable and payable, which may cause the collected funds to enter the special margin account of the note pool, resulting in temporary liquidity impact.
2. Risk control measures
(1) The enterprises entering the pool and their financing amount have been reviewed by the company;
(2) The company authorizes the finance company to professionally manage the bill pledge pool. The finance company will arrange a special person to connect with the cooperative bank, establish an account and track management, strictly control the use of the bill financing limit of the enterprises entering the pool, timely understand the collection and settlement of expired bills, and arrange the new bills to enter the pool to ensure the safety and liquidity of the bill pledge pool. If adverse factors are found or judged, corresponding measures will be taken in time to control risks. 4、 Decision making matters
1. Agree to continue to use the bill pool (including pledge) as the implementation carrier and operation platform of bill management, and the business quota of the bill pool is RMB 4 billion;
2. Authorize the management of the company to determine the cooperative bank and examine and approve the specific operation matters of the bill pool;
3. Authorize the finance company to manage the bill pool and be responsible for the selection of cooperative banks and the daily operation of the bill pool. The finance company shall timely analyze and track the dynamic situation of the bill pool and report to the company in time.
It is hereby announced.
Shanghai Huayi Group Corporation Limited(600623) board of directors
March 29, 2002
