Securities code: Shareate Tools Ltd(688257) securities abbreviation: Shareate Tools Ltd(688257) Announcement No.: 2022012 Shareate Tools Ltd(688257)
Announcement on carrying out bill pool business
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 legal responsibility for the authenticity, accuracy and integrity of its contents according to law.
Shareate Tools Ltd(688257) (hereinafter referred to as "the company") convened the 9th meeting of the 4th board of directors and the 5th meeting of the 4th board of supervisors on April 19, 2022, deliberated and adopted the proposal on the company's development of bill pooling business, and agreed that the company and its subsidiaries should carry out bill pooling business with a spot balance of no more than 300 million yuan to banks and other financial institutions according to the actual business development and financing needs (both including new addition and renewal), The business term is 18 months from the date of deliberation and approval at the ninth meeting of the Fourth Board of directors of the company, and the above quota can be used on a rolling basis during the business term. Within the above quota and business term, the board of directors authorizes the management of the company to exercise the decision-making power of specific operation and sign relevant contract documents. Relevant matters are hereby announced as follows:
1、 Basic information of bill pool business
1. Business Overview
Bill pool business refers to a comprehensive bill value-added service that banks provide customers with a series of services such as commercial bill identification, query, custody and delegated collection, and can provide withdrawal, discount, pledge and invoicing of commercial bills at any time according to customers' needs, so as to ensure the business needs of enterprises. Through systematic management, the bank realizes the requirements of bill liquidity management for customers. This business can comprehensively revitalize the company's bill assets, reduce the customer's bill management cost, effectively improve the company's bill income, and effectively reduce the company's bill risk.
2. Cooperative financial institutions
The cooperative bank to carry out the bill pool business is a commercial bank with good credit standing in China. The specific authorized management of the cooperative bank is determined according to the cooperative relationship between the company and commercial banks, the bill pool service ability of commercial banks and other comprehensive factors. 3. Implementation subject
The implementation subject of bill pool business is the company and its subsidiaries within the scope of consolidated statements, and there is no sharing of bill pool quota with the company's controlling shareholders, actual controllers and their related parties.
4. Implementation quota
The amount of bill pool business to be carried out shall not exceed 300 million yuan, that is, the balance of pledged bills used by the company and its subsidiaries to carry out bill pool business with cooperative financial institutions shall not exceed 300 million yuan, which can be recycled within the above limit.
5. Business term
18 months from the date of deliberation and approval at the ninth meeting of the Fourth Board of directors of the company.
6. Guarantee method
Under the premise of controllable risk, the company and its subsidiaries within the scope of consolidated statements can adopt various guarantee methods for the establishment and use of bill pool, such as maximum amount pledge, guarantee guarantee guarantee, general pledge, certificate of deposit pledge, bill pledge, guarantee deposit pledge and so on. The specific guarantee form and amount are authorized by the company's management according to the business needs of the company and its subsidiaries within the scope of consolidated statements and the principle of maximizing system interests.
2、 Purpose of bill pool business
In the process of collecting sales payment, the number of customers who use bills for settlement increases, and the number of bank acceptance bills received also increases. At the same time, the company often makes settlement by issuing bank acceptance bills in cooperation with suppliers.
1. After receiving bills, the company deposits the bills receivable into the agreement bank through the bill pool business for centralized management. The bank handles custody, delegated collection and other businesses on behalf of the company, which can reduce the cost of the company's management of various valuable bills.
2. The company can use the outstanding stock of valuable bill assets in the bill pool as pledge, and issue bank acceptance bills not exceeding the pledge amount to pay the supplier's payment for goods and other operating funds, which is conducive to reducing the occupation of monetary funds, improving the use efficiency of current assets and maximizing the shareholders' equity.
3. Carrying out the bill pool business can manage the company's bills receivable and bills payable to be issued as a whole, reduce the company's capital occupation, optimize the financial structure and improve the capital utilization rate.
3、 Risk and control
(I) liquidity risk
To carry out the bill pool business, the company needs to open a special margin account for the pledge financing business of the bill pool in the cooperative bank as the entry account for the due collection of the pledged bills under the bill pool. If the due dates of notes receivable and notes payable are inconsistent, the collected funds will enter the margin account where the company applies to the cooperative bank for issuing commercial bills, which will have a certain impact on the liquidity of the company's funds.
Risk control measures: the company can eliminate this impact by replacing the margin with newly received notes, and the capital liquidity risk is controllable.
(II) guarantee risk
The company uses the bills entering the bill pool as a pledge and applies to the cooperative bank for issuing commercial bills to pay the supplier's payment for goods and other operating funds. With the maturity of the pledged bills, the company handles the collection and settlement. If the bills cannot be collected normally when they are due, the amount of the pledged bills is insufficient, resulting in the cooperative bank requiring the company to provide additional guarantee.
Risk control measures: after the company and its subsidiaries carry out the bill pool business with the cooperative bank, they will arrange special personnel to connect with the cooperative bank, establish the bill pool account, track and manage, timely understand the collection and settlement of expired bills, and arrange the company's newly received bills to enter the pool, so as to ensure the safety and liquidity of bills entering the pool.
4、 Decision making procedure and organization implementation
1. The board of directors authorizes the management to exercise the decision-making power of specific operations and sign relevant contract documents within the authorized amount and business period, including but not limited to selecting qualified commercial banks and determining the specific amount, collateral, guarantee form and amount of bill pool that can be used by the company and subsidiaries within the scope of consolidated statements.
2. The Finance Department of the company shall timely analyze and track the business progress of the bill pool. If adverse factors are found or judged, it will take corresponding measures to control risks and report to the management of the company in time.
3. The Audit Department of the company is responsible for auditing and supervising the development of bill pool business.
4. The independent directors and the board of supervisors have the right to supervise and inspect the specific conditions of the company's bill pool business.
5、 Review procedure
The company held the 9th meeting of the 4th board of directors and the 5th meeting of the 4th board of supervisors on April 19, 2022, and deliberated and adopted the proposal on the company's bill pool business.
6、 Opinions of independent directors and board of supervisors
1. Independent directors believe that: at present, the company's operation is good and its financial situation is stable. The company's bill pool business can comprehensively manage the company's bills receivable and bills payable to be issued, revitalize the company's bill assets, reduce the company's capital occupation, optimize the financial structure and improve the capital utilization rate, without damaging the interests of the company and all shareholders. Therefore, the company is approved to carry out bill pool business.
2. The board of supervisors believes that the company's bill pool business is conducive to reducing the cost of bill management, reducing the occupation of funds, improving the use efficiency of current assets and optimizing the financial structure. There is no damage to the interests of the company and shareholders, and agrees to the company's bill pool business.
It is hereby announced.
Shareate Tools Ltd(688257) board of directors April 20, 2022
