Securities code: Bear Electric Appliance Co.Ltd(002959) securities abbreviation: Bear Electric Appliance Co.Ltd(002959) Announcement No.: 2022030 Bear Electric Appliance Co.Ltd(002959)
Announcement on using part of its own 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.
Bear Electric Appliance Co.Ltd(002959) (hereinafter referred to as “the company”) held the 14th meeting of the second board of directors and the 13th meeting of the second board of supervisors on April 7, 2022, deliberated and adopted the proposal on using part of its own funds for cash management, and agreed that the company would use its own idle funds of no more than RMB 1 million to carry out cash management business on the premise of ensuring that the normal operation of the company would not be affected. The relevant information is hereby announced as follows:
1、 Overview of cash management business
1. Investment purpose
On the premise of not affecting the company’s normal operating capital demand and effectively controlling investment risks, using its own idle funds to carry out cash management business can improve the efficiency of capital use, increase the company’s own capital income and obtain more return on investment for the company and shareholders.
2. Investment quota
The company plans to use its own idle funds of no more than RMB 1 million to carry out cash management business, and the amount of funds within this limit can be used on a rolling basis.
3. Investment varieties
The company strictly abides by the risk control provisions of the guidelines for self regulation and supervision of listed companies of Shenzhen Stock Exchange No. 1 – standardized operation of listed companies on the main board, makes full use of its own idle funds and reasonably arranges financial products with high safety, good liquidity and controllable risk. The varieties to be invested include but are not limited to: principal guaranteed income products issued by banks, securities companies, asset management companies, trust companies and other financial institutions Low risk bonds, bank financial products, asset management plans of securities companies, income vouchers of securities companies, entrusted financial management, trust products, etc; Product types include but are not limited to: Principal Guaranteed type, fixed income type, floating income type, expected income type, etc.
4. Source of funds
Under the condition of ensuring the funds required for the normal operation and development of the company, the capital source of the cash management business to be carried out by the company is its own idle funds.
5. Validity of resolution
The investment term is valid from the date of deliberation and approval of the 2021 annual general meeting of shareholders to the date of holding the 2022 annual general meeting of shareholders.
6. Implementation mode
Within the limit, the company authorizes Mr. Li Yifeng, the chairman of the company, to sign relevant legal documents on behalf of the company, and the specific investment activities are organized and implemented by the financial department.
7. Association description
The trustee of the company’s proposed cash management business is professional financial institutions such as commercial banks, which has no relationship with the company.
2、 Investment risk analysis and risk control measures
1. Investment risk analysis
The company’s products that use idle self owned funds for cash management are strictly evaluated and screened, and the risk is controllable; However, the financial market is greatly affected by the macro-economy. It is not excluded that the investment is affected by market fluctuations. The company will intervene appropriately and timely according to the economic situation and changes in the financial market to reduce the investment risk caused by market fluctuations.
2. Investment risk control measures
(1) The company strictly selects investment objects and selects commercial banks, securities companies, asset management, trust companies and other financial institutions with good reputation, large scale and ability to ensure capital safety for investment management business cooperation; (2) Relevant personnel of the company’s financial department will timely analyze and track the progress of cash management products. If risk factors that may affect the safety of funds are found in the assessment, corresponding measures will be taken in time to control investment risks; The internal audit department of the company is responsible for auditing and supervising the use and custody of funds of cash management products;
(3) Independent directors and the board of supervisors have the right to supervise and inspect the use of funds and cash management products, and can hire professional institutions to audit when necessary.
3、 Impact on the company’s operation
Under the premise that the company’s investment and management are not conducive to the normal development of the company’s main business, it is necessary to further improve the company’s cash use efficiency and ensure that part of the company’s capital can be used safely for the company’s normal operation.
4、 Review procedures and relevant opinions
On April 7, 2022, the 14th meeting of the second board of directors and the 13th meeting of the second board of supervisors deliberated and adopted the proposal on using part of its own funds for cash management. The independent directors of the company expressed their explicit consent. This proposal still needs to be submitted to the general meeting of shareholders for deliberation.
1. Deliberation opinions of the board of supervisors
After review, the board of supervisors believes that the company’s use of some of its own funds for cash management this time can improve the efficiency and income of the company’s funds, will not affect the normal production and operation of the company, and complies with the relevant provisions of the company law and the articles of association. It agrees that the company uses some of its own funds for cash management this time. 2. Opinions of independent directors
The company uses part of its own funds for cash management on the premise of ensuring the normal operation and capital safety of the company, which will not affect the daily production and operation of the company. Through timely and appropriate cash management of some of its own funds, it is conducive to further improve the overall performance level of the company and safeguard the interests of the company and shareholders. Therefore, we agree that the company uses part of its own funds for cash management, and agree to submit the matter to the general meeting of shareholders for deliberation.
5、 Documents for future reference
1. Resolutions of the 14th meeting of the second board of directors of the company;
2. Resolutions of the 13th meeting of the second board of supervisors of the company;
3. Independent opinions of independent directors on matters related to the 14th meeting of the second board of directors of the company;
It is hereby announced.
Bear Electric Appliance Co.Ltd(002959) board of directors
April 8, 2022
