Securities code: Yintai Gold Co.Ltd(000975) securities abbreviation: Yintai Gold Co.Ltd(000975) Announcement No.: 2022011
About the company and its holding subsidiaries using their own idle funds
Announcement of entrusted financial management and other investments
The company and all members of its board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Yintai Gold Co.Ltd(000975) (hereinafter referred to as “the company”) the 12th meeting of the 8th board of directors deliberated and adopted the proposal on the company and its holding subsidiaries using their own idle funds for entrusted financial management and other investments on April 8, 2022. The details are as follows:
1、 Overview
1. Purpose
On the premise of not affecting normal operation and controllable risk, the company and its holding subsidiaries use their own idle funds for entrusted financial management, national debt reverse repurchase and monetary fund investment, which is conducive to improving the efficiency of capital use, increasing the return on cash assets and creating better returns for the company and shareholders.
2. Investment amount
Use its own idle funds not exceeding RMB 3.5 billion for investment, and the funds can be recycled and used within the above amount.
3. Investment mode
The company and its holding subsidiaries purchase fixed income or low-risk financial products through banks or securities companies for reverse repurchase of treasury bonds and investment in monetary funds.
4. Investment period
From the date of deliberation and approval at the 2021 annual general meeting to the date of the 2022 annual general meeting.
2、 Source of funds
The funds are the self owned idle funds of the company and its holding subsidiaries.
3、 Approval procedures to be performed
The financial products, reverse repurchase of treasury bonds and investment of monetary funds have been deliberated and approved at the 12th meeting of the eighth board of directors of the company, and need to be deliberated and approved by the general meeting of shareholders.
4、 Impact on the company
Securities code: Yintai Gold Co.Ltd(000975) securities abbreviation: Yintai Gold Co.Ltd(000975) Announcement No.: 2022011
The entrusted financial management of the company and its holding subsidiaries is mainly to purchase fixed income or low-risk products of banks or securities companies. The company has fully estimated and calculated the risks and benefits of the products and the future capital demand. National debt reverse repurchase and monetary fund investment belong to varieties with stable income and high safety factor. The use of corresponding funds will not affect the company’s daily operation and the development of its main business, and will help to improve the use efficiency of idle funds of the company and its holding subsidiaries.
5、 Risk control
The company’s entrusted financial management measures and investment management system have made detailed provisions on investment principles, approval authority, implementation management, decision-making procedures, accounting management and risk control, so as to effectively prevent risks and ensure capital safety.
6、 Opinions of independent directors
The company and its holding subsidiaries use their own idle funds to purchase fixed income or low-risk financial products through banks or securities companies for treasury bond reverse repurchase and monetary fund investment, which comply with the provisions of relevant laws and regulations, and the approval procedure is legal. The company will strengthen risk control, effectively prevent investment risks and ensure the safety of the company’s funds in accordance with the provisions of the entrusted financial management measures and the investment management system. The above investment is conducive to improving the efficiency of capital use and increasing the income of cash assets, will not affect the normal operation of the company, and will not damage the interests of minority shareholders.
7、 Documents for future reference
1. Resolutions of the 12th meeting of the 8th board of directors of the company;
2. Opinions of independent directors.
It is hereby announced.
Yintai Gold Co.Ltd(000975) board of directors
April 8, 2002
