Securities code: Zhejiang Chenfeng Science And Technology Co.Ltd(603685) securities abbreviation: Zhejiang Chenfeng Science And Technology Co.Ltd(603685) Announcement No.: 2022020 bond Code: 113628 bond abbreviation: CHENFENG convertible bond
Zhejiang Chenfeng Science And Technology Co.Ltd(603685)
With regard to the announcement of using some idle raised funds to purchase financial products, the board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and integrity of its contents. Important content tips:
Entrusted wealth management trustee: Bank Of Communications Co.Ltd(601328) Jiaxing Branch (hereinafter referred to as " Bank Of Communications Co.Ltd(601328) Jiaxing branch")
Amount of entrusted financial management: 50 million yuan
Name of entrusted wealth management product: Bank Of Communications Co.Ltd(601328) Yuntong wealth fixed-term structured deposit for 83 days (gold linked bearish)
Period of entrusted financial management: 83 days
Review procedures to be performed: Zhejiang Chenfeng Science And Technology Co.Ltd(603685) (hereinafter referred to as "the company") held the fifth interim meeting of the second board of directors in 2021 on September 10, 2021, and considered and adopted the proposal on cash management with idle raised funds. It is agreed that within one year after the deliberation and approval of the board of directors, it is proposed to use idle raised funds with a total amount of no more than 200 million yuan to timely purchase principal guaranteed financial products or structured deposits with high safety and liquidity. The above capital limit can be used on a rolling basis within the validity period of the resolution, and the chairman or chief financial officer is authorized to exercise the investment decision-making power within the limit and sign relevant contract documents. The company's board of supervisors, independent directors and recommendation institutions all expressed their consent to the proposal. For details, see the website of Shanghai Stock Exchange (www.sse. Com. CN.) The announcement of Zhejiang Chenfeng Science And Technology Co.Ltd(603685) on cash management with idle raised funds (Announcement No.: 2021058) disclosed.
1、 Overview of this entrusted financial management
(I) purpose of entrusted financial management
Based on the principle of maximizing the interests of shareholders, in order to improve the use efficiency of idle raised funds, the company purchases principal guaranteed financial products or structured deposits with high safety and liquidity on the premise of ensuring that the purpose of raised funds is not changed in a disguised manner and that the normal progress of investment projects of raised funds is not affected.
(II) source of funds
1. General information on the source of funds
The source of funds for this financial management is the company's temporarily idle raised funds.
2. Entrusted financial management with idle raised funds
With the approval of China Securities Regulatory Commission's zjxk [2021] No. 1955 document and the consent of Shanghai Stock Exchange, the company's lead underwriter Zhongde Securities Co., Ltd. publicly issued 4.15 million convertible corporate bonds to the public by means of balance underwriting, with a face value of RMB 100.00 each, raising a total of RMB 415 million, The raised capital after deducting the underwriting and recommendation expenses of RMB 5.6025 million was RMB 4093975 million, which was remitted to the raised capital supervision account of the company by the lead underwriter Zhongde Securities Co., Ltd. on August 27, 2021. In addition, after deducting 3147600 yuan of external expenses (excluding tax) directly related to the issuance of convertible corporate bonds, such as lawyer fees, audit verification fees, credit rating fees and issuance handling fees, the net amount of funds raised by the company this time is 406249900 yuan. The availability of the above-mentioned raised funds has been verified by Tianjian Certified Public Accountants (special general partnership), who issued the capital verification report (Tianjian Yan [2021] No. 464). The company has formulated the measures for the management of Zhejiang Chenfeng Science And Technology Co.Ltd(603685) raised funds to manage the raised funds deposited in a special account.
According to the promotion plan of investment projects with raised funds, some of the company's raised funds have been temporarily idle recently.
(III) basic information of entrusted financial products
Trustee name product type product name amount expected annualized expected return (10000 yuan) rate of return amount
Bank Of Communications Co.Ltd(601328) yuntongcai
Bank Of Communications Co.Ltd(601328) Jiaxing structured deposit and wealth fixed structure 500000-1.65%-
Xingxing branch deposit for 83 days (gold 3.55%)
Pegged bearish)
Product term return type structured arrangement refers to whether the annualized expected return constitutes a rate of return (if any) related party transaction
83 day breakeven floating - 1.65% - no
Income type: 55.3%
(IV) the company's internal control over risks related to entrusted financial management
In order to control the risk, the company will select the principal guaranteed financial products or structured deposits that can provide Principal Guaranteed commitments, high security and good liquidity from the issuer. The investment risk is small and within the company's control. 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. The company will disclose the corresponding profits and losses of cash management investment products during the reporting period in the regular report in accordance with the relevant provisions of Shanghai Stock Exchange.
2、 Details of this entrusted financial management
(I) main terms of entrusted financial management agreement
Product name Bank Of Communications Co.Ltd(601328) Yuntong wealth time structured deposit for 83 days (gold linked bearish)
Product code 2699222005
Currency: RMB
Product nature breakeven floating income type
April 6, 2022 - 19:00, April 6, 2022
The bank has the right to end or extend the sale in advance according to the market conditions (e.g. the end date of the product investment period changes in the product subscription period in case of holidays). If the product subscription period ends or extends in advance, the bank has the right to adjust the product establishment date and product maturity date accordingly, and the actual product term may change accordingly.
The product establishment date is April 8, 2022. On the product establishment date, when the amount of funds raised by Japanese products reaches the lower limit of product issuance scale, the product is established.
The maturity date of the product is June 30, 2022. In case of non working days, it will be postponed to the next working day. The product income is calculated according to the actual investment period.
83 days (excluding the product expiration date or the product early termination date. If the product is terminated in advance, or the product establishment date and / or product expiration date are adjusted, the product term is determined by the actual term.)
If the product is established and the investor successfully subscribes for the product, the bank shall provide the investor with full guarantee of the principal and income, and pay the due income to the investor in accordance with the relevant provisions of the product agreement.
Product arrival date product maturity date
Shanghai Gold Exchange au99 99 contract closing price (subject to the data published on the official website of Shanghai Gold Exchange).
Observation Date: June 27, 2022, in case of non Shanghai Gold Exchange au99 99 trading day, postponed to the next Shanghai Gold Exchange au99 99 trading days.
High exercise price: the closing price of the linked target on the establishment date 113.98%
Low exercise price: the closing price of the linked target on the establishment date 81.31%
Product structure parameters (accurate to 2 decimal places and rounded to the 3rd decimal place)
High grade yield: 3.55%
Medium yield: 3.35%
Low yield: 1.65% (annualized, the same below)
(1) If the closing price of the linked target on the observation day is lower than the low exercise price, the actual annualized rate of return (annualized) obtained by the customer throughout the duration is the high-end rate of return.
(2) If the closing price of the linked subject matter on the observation day is lower than the high exercise price and higher than or equal to the low exercise price, the actual annualized rate of return obtained by the customer throughout the duration is medium
Profit rate.
(3) If the closing price of the linked target on the observation day is higher than the high exercise price, the actual annualized rate of return obtained by the customer throughout the duration is the low-grade rate of return.
The income obtained by investors shall be subject to the calculation and actual payment by the bank in accordance with the product agreement, and such income shall not exceed the income calculated according to the annual yield of the product agreed in the product agreement.
Calculation of revenue base days 365
Calculation method of income principal × Actual rate of return (annualized) × Actual product life / 365
Accurate to 2 digits after the decimal point and rounded to the third digit after the decimal point.
Early termination right investors shall not terminate this product in advance, and the bank has the right to decide and unilaterally terminate this product in advance.
Before the establishment date of the product, if the national macro policies and relevant market regulations and policies change, or the market fluctuates violently, and the bank reasonably judges that it is difficult to provide the product to investors in accordance with the product agreement, the bank has the right to decide whether the product is not established. Investors will not be able to purchase this product during the subscription period of the above products. The bank will publicly announce the non establishment of this product within two working days after the end of the subscription period.
The bank will return the subscription funds that have been successfully deducted to the settlement account designated by the investor within two working days after the original product establishment date. During the capital freeze period, the current deposit interest will be calculated according to the RMB current deposit interest rate published by the bank. Neither income nor interest will be paid from the original product establishment date to the return fund arrival date.
The processing time of other business records in Beijing shall prevail
(II) investment direction of entrusted financial management funds
The specific investment of the entrusted financial management is structural deposit.
(III) the amount of structural deposits purchased by the company with some idle raised funds is 50 million yuan and the term is 83 days, which meets the requirements of high safety and good liquidity. There is no behavior of changing the purpose of raised funds in disguise, affecting the normal progress of raised investment projects and damaging the interests of shareholders. (IV) risk control analysis
Based on the principle of safeguarding the interests of shareholders and the company, the company puts risk prevention in the first place, strictly controls the investment of financial products and makes prudent decisions. The financial products selected by the company are principal guaranteed products. During the financial management of the above bank financial products, the company maintains contact with the bank, tracks the operation of financial funds, strengthens risk control and supervision, and strictly controls the safety of funds.
3、 Information of entrusted financial management trustee
The entrusted financial management trustee is Bank Of Communications Co.Ltd(601328) Jiaxing Branch, and Bank Of Communications Co.Ltd(601328) is a listed financial institution, which has no relationship with the company, its controlling shareholders and actual controllers.
4、 Impact on the company
The main financial indicators of the company in the latest year and period are as follows:
Unit: Yuan
Project Name: December 31, 2020 September 30, 2021
Total assets 177332492927239720425399
Total liabilities 66314624800115852792465
Net assets 111017868127123867632934
