Securities code: Betta Pharmaceuticals Co.Ltd(300558) securities abbreviation: Betta Pharmaceuticals Co.Ltd(300558) Announcement No.: 2022031 Betta Pharmaceuticals Co.Ltd(300558)
Announcement on using 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.
Important content tips:
1. Investment purpose: in order to improve the use efficiency of funds, Betta Pharmaceuticals Co.Ltd(300558) (hereinafter referred to as "the company") uses idle self owned funds to purchase low-risk, short-term (single transaction no more than 12 months) principal guaranteed financial products (including structured deposits, etc.).
2. Investment amount: the company uses idle self owned funds with a maximum amount of no more than 1 billion yuan for cash management. Within the above limit, the funds can be used on a rolling basis, and the investment period is from the deliberation and approval of the 2021 annual general meeting of shareholders to the convening of the 2022 annual general meeting of shareholders.
3. Special risk tip: there are still some investment risks in using idle self owned funds for cash management. Please pay attention to it.
On April 1, 2022, the company held the 30th meeting of the third board of directors and the 24th Meeting of the third board of supervisors, which deliberated and adopted the proposal on using idle self owned funds for cash management. The board of directors agreed that the company would use idle self owned funds with a maximum amount of no more than 1 billion yuan to purchase low-risk Short term (single transaction not exceeding 12 months) principal guaranteed financial products (including structured deposits, etc.) (hereinafter referred to as "the matter"). Within the above limit, the funds can be used on a rolling basis, and the investment period is from the deliberation and approval of this proposal at the 2021 annual general meeting of shareholders to the convening of the 2022 annual general meeting of shareholders. The board of directors requested the 2021 annual general meeting of shareholders of the company to authorize the chairman of the company to decide and the finance department to handle matters related to the purchase of principal guaranteed financial products within the above purchase period and purchase limit.
1、 Overview of investment
1. Investment purpose
The purpose of the company's cash management with idle self owned funds this time is to make full use of idle funds, improve capital use efficiency and capital income level, improve short-term financial investment income, enhance the company's value and seek more investment returns for the company's shareholders. It will not affect the development of the company's main business, and the use arrangement of the company's funds is reasonable. 2. Investment amount
Use idle self owned funds with a maximum amount of no more than 1 billion yuan for cash management. Within the above limit, the funds can be used on a rolling basis.
3. Investment mode
The company uses idle self owned funds to invest in low-risk, short-term (single transaction no more than 12 months) principal guaranteed financial products (including structured deposits, etc.).
4. Investment period
From the deliberation and approval of this proposal at the 2021 annual general meeting of shareholders to the convening of the 2022 annual general meeting of shareholders. 5. Source of funds
The capital source of the company's principal guaranteed financial management is idle self owned funds, which does not occupy the raised funds and the company's normal operation and project construction funds, does not involve bank credit funds, and the source of funds is legal and compliant.
6. Information disclosure
The company will timely perform the obligation of information disclosure in strict accordance with the relevant provisions of the Shenzhen Stock Exchange GEM Listing Rules, the guidelines for self regulatory supervision of listed companies No. 2 - standardized operation of GEM listed companies, etc.
2、 Review procedure
The matter was deliberated and approved at the 30th meeting of the third board of directors and the 24th Meeting of the third board of supervisors of the company, and shall be implemented after being submitted to the 2021 annual general meeting of shareholders of the company for deliberation and approval. The independent directors of the company expressed their independent opinions on the matter.
3、 Investment risk analysis and risk control measures
1. Investment risk
(1) Although short-term bank breakeven financial products are low-risk investment products, the financial market is greatly affected by the macro-economy, and it is not ruled out that this matter is affected by market fluctuations;
(2) The company will intervene timely and appropriately 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.
2. Risk control measures
(1) When purchasing bank financial products, the company will choose investment products of commercial banks 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 Finance Department of the company shall establish an investment account and timely analyze and track the changes in the net value of products. If the evaluation finds that there are risk factors that may affect the safety of the company's funds, it will take corresponding measures in time to control the investment risk;
(3) The matter has been deliberated and approved by the board of directors of the company and needs to be submitted to the general meeting of shareholders of the company for deliberation and approval before implementation. The board of directors of the company also requests the general meeting of shareholders of the company to authorize the chairman to exercise the investment decision-making power, and the finance department is responsible for the specific purchase;
(4) 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;
(5) The internal audit department of the company 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;
(6) The company will disclose the purchase and profit and loss of financial products during the reporting period in the regular report in accordance with the relevant provisions of Shenzhen Stock Exchange.
4、 Impact of investment on the company
1. The company's use of idle self owned funds to purchase low-risk financial products is implemented on the premise of ensuring that it does not affect the normal development of its main business, and does not affect the needs of the company's daily capital turnover;
2. Through appropriate investment in principal guaranteed financial products, we can improve the efficiency of capital use, obtain certain investment benefits, further improve the overall performance level of the company and seek more investment returns for the shareholders of the company. 3. The company will conduct corresponding accounting treatment for its own fund cash management business in accordance with the relevant provisions of the accounting standards for business enterprises, which will be reflected in the relevant subjects of the financial statements.
5、 Opinions of independent directors
At present, the company is in good operation, stable financial condition, stable cash flow and sound internal control system. On the basis of controlling risks and ensuring capital liquidity and safety, the company makes rational use of some idle self owned funds and timely purchases bank principal guaranteed financial products, which is conducive to improving capital use efficiency, increasing income and will not affect the daily operation and development of the company, There is no situation that damages the interests of the company and all shareholders, especially minority shareholders. The company's purchase of principal guaranteed financial products with idle self owned funds complies with relevant laws and regulations and the relevant provisions of Betta Pharmaceuticals Co.Ltd(300558) articles of association, and has fulfilled the necessary approval procedures. We agree that the company will use its idle self owned funds with a maximum amount of no more than 1 billion yuan to purchase principal guaranteed financial products with high security and good liquidity, and agree to submit the matter to the general meeting of shareholders of the company for deliberation.
6、 Documents for future reference
1. Betta Pharmaceuticals Co.Ltd(300558) the resolution of the 30th meeting of the third board of directors;
2. Betta Pharmaceuticals Co.Ltd(300558) the resolution of the 24th Meeting of the third board of supervisors;
3. Betta Pharmaceuticals Co.Ltd(300558) independent directors' independent opinions on relevant matters of the 30th meeting of the third board of directors.
It is hereby announced.
Betta Pharmaceuticals Co.Ltd(300558) board of directors April 6, 2022
