Board of directors of Suzhou Co., Ltd
Special note on the company's investment in Securities and derivatives in 2021
In accordance with the provisions of relevant laws and regulations such as self regulatory guidelines for companies listed on the gem of Shenzhen Stock Exchange No. 1 - business handling and self regulatory guidelines for companies listed on the gem of Shenzhen Stock Exchange No. 2 - standardized operation of companies listed on the gem, the board of directors of Kangping Technology (Suzhou) Co.Ltd(300907) (Suzhou) Co., Ltd. (hereinafter referred to as "the company") checked the company's securities and derivatives investment in 2021, The relevant information is described as follows:
1、 Review and approval of securities and derivatives investment
The company held the second meeting of the Fourth Board of directors in 2021 and the second meeting of the Fourth Board of supervisors in 2021 on April 8, 2021, and held the 2020 annual general meeting of shareholders on May 12, 2021. The proposal on the company and its subsidiaries to carry out long-term foreign exchange settlement and sales business was deliberated and approved, and the company and its subsidiaries agreed to carry out long-term foreign exchange settlement and sales business with a total amount of no more than 200 million yuan, The authorization period shall be valid within one year from the date of deliberation and approval by the general meeting of shareholders of the company, and the amount can be recycled and rolled within the authorization period. For details, please refer to the company's website (www.cn. Info. Com. CN.) on April 10, 2021 Announcement on the company and its subsidiaries carrying out forward foreign exchange settlement and sales business (Announcement No.: 2021021) disclosed on the.
2、 Investment in Securities and derivatives in 2021
RMB: 10000 yuan
Whether a single day in the reporting period exceeded the gain
Transaction type currency approved limit closing balance
Maximum balance batch limit
Forward settlement and sales of foreign exchange USD 200 million USD 6 million USD 0.00 no
Total - US $200 million US $6 million US $0.00-
3、 Risk analysis of carrying out forward foreign exchange settlement and sales business
The company and its subsidiaries carry out forward foreign exchange settlement and sales business in accordance with the principle of hedging and do not engage in speculative arbitrage transactions, but there may still be certain risks:
1. Exchange rate fluctuation risk: when the exchange rate changes greatly, if the forward exchange rate agreed in the confirmation of forward exchange settlement and sales is lower than the real-time exchange rate, exchange losses will be caused;
2. Internal control risk: forward foreign exchange settlement and sales transactions are highly professional and complex, which may cause risks due to imperfect internal control system;
3. Customer default risk: the customer's accounts receivable are overdue, and the payment cannot be recovered within the predicted collection period, which will cause the delay in the delivery of forward foreign exchange settlement and sales, resulting in the loss of the company;
4. Collection forecast risk: the sales department forecasts the collection according to the customer's orders and expected orders. In the actual implementation process, the customer may adjust their own orders and forecasts, resulting in inaccurate collection forecast of the company, resulting in the risk of delayed delivery of forward foreign exchange settlement and sales.
4、 Risk control measures taken by the company
1. Select the forward foreign exchange settlement and sales business with simple structure, strong liquidity and controllable risk;
2. The company has formulated the financial derivatives trading management system, which clearly stipulates the internal audit process, decision-making procedures, information isolation measures, internal risk reporting system, risk handling procedures and information disclosure; 3. In order to prevent the delayed delivery of forward settlement and sales of foreign exchange, the company attaches great importance to the management of accounts receivable, actively collects accounts receivable, avoids the overdue phenomenon of accounts receivable, and tries to control the risk of delayed delivery within the minimum range;
4. The company will strengthen the research and analysis of the exchange rate, pay real-time attention to the changes in the international market environment, adjust the operation strategy in time, and minimize the exchange loss.
5、 Opinions of independent directors
After verification, the company only carried out forward foreign exchange settlement and sales business in 2021 and did not make securities investment. The company's forward foreign exchange settlement and sales business follows the principle of hedging and does not engage in speculative arbitrage transactions. The funds used for the forward foreign exchange settlement and sales business are its own funds, which does not affect the development of the company's main business. At the same time, the company has formulated and strictly implemented the financial derivatives transaction management system, and the relevant transactions have also fulfilled the corresponding approval procedures. There is no violation of relevant laws and regulations and the company's rules and regulations, and there is no damage to the interests of the company and shareholders, especially small and medium-sized shareholders.
6、 Verification opinions of the recommendation institution
After verification, the sponsor believes that the company's securities and derivatives investment does not violate the provisions of relevant laws, regulations and normative documents, such as the Listing Rules of Shenzhen Stock Exchange on the gem, the self regulatory guidelines for listed companies of Shenzhen Stock Exchange No. 2 - standardized operation of listed companies on the gem, and complies with the provisions of the articles of association, and the decision-making procedures are legal and compliant.
7、 Documents for future reference
1. Independent opinions of independent directors on matters related to the first meeting of the Fourth Board of directors in 2022; 2. Verification opinions on Securities and derivatives investment of Kangping Technology (Suzhou) Co.Ltd(300907) (Suzhou) Co., Ltd. in 2021 issued by Huatai United Securities Co., Ltd.
It is hereby explained.
Board of directors of Kangping Technology (Suzhou) Co.Ltd(300907) (Suzhou) Co., Ltd. April 2, 2022
