Securities code: Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) securities abbreviation: Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) Announcement No.: 2022017 Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987)
Accounts receivable from Yuexiu leasing, a holding subsidiary
Announcement on asset-backed securities business
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.
Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) (hereinafter referred to as “the company”) held the 34th meeting of the ninth board of directors on April 1, 2022, deliberated and adopted the proposal on the holding subsidiary Yuexiu leasing to carry out the business of accounts receivable asset-backed securities, in order to improve the liquidity of cash assets and optimize the debt structure, Guangzhou Yuexiu Financial Leasing Co., Ltd. (hereinafter referred to as “Yuexiu leasing”), the holding subsidiary of the company, is approved to carry out the business of accounts receivable asset-backed securities as the original equity holder, and issue asset-backed securities for financing through the establishment of “special asset support plan”, with the total proposed financing scale not exceeding 6 billion yuan (subject to the scale when the special plan is established), The financing period shall not exceed 5 years (subject to the actually established special plan). The company now announces the relevant information as follows: I. explanation on Yuexiu leasing meeting the conditions for issuing asset-backed securities
In accordance with the law of the people’s Republic of China on the confirmation of the qualification of listed companies to finance and lease assets and the relevant provisions of the securities exchange of the people’s Republic of China on the due diligence of assets, the guidelines for the issuance of financing and leasing assets, and the relevant provisions of the laws and regulations of the people’s Republic of China on the issuance of securities, the working conditions for the recognition of assets supporting the leasing of assets, Through self-examination on the actual operation and related matters of Yuexiu leasing, it is considered that Yuexiu leasing meets the requirements for issuing asset-backed securities and has the conditions and qualifications for issuing asset-backed securities. In addition, after investigation, Yuexiu leasing is not the subject of breach of trust.
2、 Distribution scheme
The issuance scheme of this special plan of Yuexiu leasing is as follows:
(I) original owner / asset service institution: Yuexiu leasing.
(II) difference payment promisor: Yuexiu leasing.
(III) Product Manager: securities company.
(IV) basic assets: creditor’s rights of accounts receivable and their subsidiary security interests.
(V) financing scale: the total amount of this special plan shall not exceed RMB 6 billion. After registration, the single issuance scale shall be determined according to the asset conditions and market conditions.
(VI) financing period: no more than 5 years (including 5 years).
(VII) issuing interest rate: the expected rate of return of priority asset-backed securities depends on the market inquiry, and there is no expected rate of return for secondary asset-backed securities.
(VIII) purpose of raised funds: it is intended to repay loans and supplement working capital. (IX) issuing object: qualified investors in the securities market.
(x) place of listing and Trading: Shenzhen Stock Exchange.
3、 Authorization matters
In order to efficiently and orderly complete the issuance, the board of directors agreed to authorize Yuexiu leasing to handle matters related to the special plan, including but not limited to:
(I) determine the specific type of asset-backed securities business and handle the establishment, application, issuance, listing and transfer of special plans, including but not limited to formulating, signing, implementing, modifying and completing all necessary documents, contracts / agreements The contract (the specific name shall be subject to the actual signing, hereinafter collectively referred to as the “transaction document”) and relevant information disclosure in accordance with applicable laws and regulations and other specific matters related to this special plan;
(II) decide to hire intermediary agencies such as sales agencies, law firms and rating agencies to handle the establishment, application and issuance of special plans;
(III) decide to hire the manager of the special plan and sign the relevant special plan management and sales agreement;
(IV) handle the listing and transfer of the special plan after the issuance of the special plan is completed;
(V) sign the transaction documents related to the special plan;
(VI) decide that Yuexiu leasing, as the original equity holder under the special plan, will transfer all the outstanding principal, rent claims and other rights under the basic assets and their subsidiary security interests to the special plan established by the manager, and carry out the special plan within the scale of no more than 6 billion yuan and no more than 5 years;
(VII) in case of changes in regulatory policies or market conditions, in addition to the matters required to be re voted by the board of directors in accordance with relevant laws, regulations and the articles of association, the specific scheme of the special plan and other relevant matters shall be adjusted accordingly according to the opinions of the regulatory authorities or changes in market conditions;
(VIII) handle other matters related to the special plan.
The above authorization starts from the date of deliberation and approval of the board of directors to the date of completion of the above authorized matters.
4、 Purpose of issuance and impact on the company
Yuexiu leasing uses accounts receivable for asset securitization, which can transform accounts receivable into cash assets with high liquidity, so as to revitalize the stock of assets. Meanwhile, as a financing form other than equity financing and bond financing, asset securitization can optimize the debt structure of Yuexiu leasing.
5、 Risk tips
The market interest rate during the issuance of asset securitization will fluctuate with the change of macroeconomic environment. Therefore, there is a situation that the large fluctuation of market interest rate will affect the financing cost and then the selection of issuance window. The scale, term, product structure and other project related elements of priority and subordinated asset-backed securities in the special plan may be adjusted according to the requirements of regulatory authorities or market demand. There is a risk that the establishment of this special plan will be terminated due to the macro environment, market conditions and regulatory requirements.
The issuance of asset-backed securities by Yuexiu leasing has been deliberated and approved at the 34th meeting of the ninth board of directors of the company. Yuexiu leasing’s special plan for this issuance can be implemented only after obtaining the letter of no objection to the listing conditions of Shenzhen Stock Exchange. There are certain uncertainties in the establishment of this special plan. The company will perform the obligation of information disclosure in accordance with the provisions of relevant laws, regulations and normative documents. Please pay attention to the investment risks.
6、 Documents for future reference
(I) resolutions adopted at the 34th meeting of the ninth board of directors.
It is hereby announced.
Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) board of directors
April 1, 2022
