Securities code: Sirio Pharma Co.Ltd(300791) securities abbreviation: Sirio Pharma Co.Ltd(300791) announcement Code: 2022021 securities code: 123113 securities abbreviation: xianle convertible bonds
Announcement on determining the amount of forward foreign exchange settlement and sales of the company in 2022
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.
Sirio Pharma Co.Ltd(300791) (hereinafter referred to as "the company") deliberated and adopted the proposal on determining the amount of long-term foreign exchange settlement and sales of the company in 2022 at the 7th Meeting of the third board of directors. This proposal still needs to be submitted to the general meeting of shareholders for deliberation. The relevant information is hereby announced as follows:
1、 Purpose of carrying out forward foreign exchange settlement and sales business
Since the company carries out import and export business and the settlement currency is mainly foreign currency, when the exchange rate fluctuates greatly, the exchange profit and loss will have an impact on the company's operating performance. In order to avoid and prevent the risk of exchange rate fluctuation, the company plans to carry out long-term foreign exchange settlement and sales business. This transaction does not constitute a connected transaction.
2、 Overview of forward foreign exchange settlement and sales business
The company (including subsidiaries) plans to carry out long-term foreign exchange settlement and sales business within the limit of US $30 million. According to 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 Sirio Pharma Co.Ltd(300791) foreign investment management system, the long-term settlement and sale of foreign exchange business needs to be deliberated by the general meeting of shareholders. The details are as follows: (I) business types
The business of the company this time is forward foreign exchange settlement and sales, which are foreign exchange hedging financial products approved by the people's Bank of China. The transaction principle is to sign a forward foreign exchange settlement and sales agreement with the bank, stipulate the foreign exchange currency, amount, period and exchange rate of the future foreign exchange settlement and sales, and handle the foreign exchange settlement and sales business according to the currency, amount and exchange rate specified in the agreement when due, so as to lock the cost of foreign exchange settlement and sales in the current period. The main foreign currency of the forward settlement and sales of foreign exchange to be carried out by the company is US dollars.
(II) business scale and term
The total amount of business carried out this time is within the limit of US $30 million, and the period is 12 months from the date of deliberation and approval by the board of directors. Within the above limit and use period, the funds can be used in a rolling manner.
(III) source of funds
The fund source of the company's long-term foreign exchange settlement and sales business this time is the company's own funds, which does not involve raised funds. (IV) counterparty
Commercial banks and other financial institutions with the qualification of derivatives trading business.
(V) implementation authorization
Authorize the company's management to implement specific matters.
3、 Risk analysis of forward foreign exchange locking business
(I) exchange rate fluctuation risk:
In the case of significant deviation between the exchange rate trend and the company's expectation, the cost of the company after locking the exchange rate may exceed the cost when it is not locked, resulting in potential losses.
(II) customer default risk:
Customers' accounts receivable are overdue, which may make the actual cash flow unable to fully match the term or amount of the operated forward foreign exchange settlement and sales business, resulting in losses to the company.
(III) predicted risk of payment collection:
The business department of the company forecasts the collection and payment according to the customer's orders and expected orders. In the actual implementation process, the customer may adjust their own orders, resulting in inaccurate collection prediction of the company, resulting in the risk of delayed delivery of forward foreign exchange settlement and sales.
4、 Risk control measures
(I) the company requires the financial department of the company to track the changes in the open market price or fair value of financial derivatives and timely assess the changes in the risk exposure of invested financial derivatives with relevant financial institutions;
(II) when signing the forward foreign exchange settlement and sales business contract, the transaction shall be carried out in strict accordance with the period and amount of foreign exchange collection and payment predicted by the company, and all forward foreign exchange settlement and sales businesses have real trade background;
(III) the company attaches great importance to the risk control of accounts receivable, strictly controls overdue accounts receivable and bad debts, and strives to improve the accuracy of collection prediction and reduce the prediction risk;
(IV) the above businesses of the company are only allowed to trade with financial institutions with legal business qualifications, and shall not trade with informal institutions.
5、 Opinions of independent directors
The independent directors of the company believe that the company's long-term foreign exchange settlement and sales business with the bank is to reduce the impact of exchange rate fluctuations on the company's operating performance. Therefore, all independent directors unanimously agree that the company (including subsidiaries) should carry out long-term foreign exchange settlement and sales business within the limit of US $30 million, and authorize the management of the company to implement specific matters. The validity period is 12 months from the date of deliberation and approval by the board of directors, and submit it to the general meeting of shareholders of the company for deliberation.
6、 Documents for future reference
1. Resolutions of the seventh meeting of the third board of directors of the company;
2. Independent opinions of independent directors on matters related to the seventh meeting of the third board of directors of the company.
It is hereby announced.
Sirio Pharma Co.Ltd(300791)
Board of directors
April 12, 2002
