Securities code: Hangzhou Chang Chuan Technology Co.Ltd(300604) securities abbreviation: Hangzhou Chang Chuan Technology Co.Ltd(300604) Announcement No.: 2022035 Hangzhou Chang Chuan Technology Co.Ltd(300604)
Announcement on using temporarily idle self owned 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.
Hangzhou Chang Chuan Technology Co.Ltd(300604) (hereinafter referred to as “the company”) held the 7th Meeting of the 3rd board of directors and the 7th Meeting of the 3rd board of supervisors on April 22, 2022, deliberated and adopted the proposal on cash management with temporarily idle own funds. In order to improve the efficiency of capital use and ensure the daily operation and capital safety of the company, It is proposed to use temporarily idle self owned funds with a maximum of 150 million yuan for cash management to purchase financial products with high safety, good liquidity, controllable risk and stability, so as to increase the income of the company’s cash assets. The amount of cash management can be used on a rolling basis within the validity period of one year from the date of deliberation and adoption by the board of directors.
According to the Shenzhen Stock Exchange GEM Listing Rules, the articles of association and other relevant provisions, the company’s use of idle self owned funds for cash management falls within the approval authority of the board of directors and does not need to be submitted to the general meeting of shareholders for deliberation. Relevant information is announced as follows:
1、 Basic information of cash management using temporarily idle self owned funds this time
(I) investment purpose
In order to improve the use efficiency of the company’s funds, under the condition of ensuring the daily operation capital demand and capital safety of the company, reasonably use the temporarily idle self owned funds for cash management to purchase financial products with high safety, good liquidity, controllable risk and stability, so as to increase the income of the company’s cash assets and obtain more returns for the company and shareholders.
(II) types of investment products
The company will strictly control risks in accordance with relevant regulations, strictly evaluate financial products, and select financial products with high safety, good liquidity, controllable risk and stability, which will not affect the use of funds required for the normal operation of the company.
(III) investment quota
The investment limit shall not exceed 150 million yuan, within which the funds can be recycled and used in a rolling manner. The purchase amount and term of each product will be determined according to the actual situation of idle funds.
(IV) investment period
It shall be valid within one year from the date of deliberation and approval at the seventh meeting of the third board of directors of the company.
(V) decision making procedure and Implementation
This matter has been deliberated and approved at the 7th Meeting of the 3rd board of directors and the 7th Meeting of the 3rd board of supervisors of the company. The independent directors of the company have expressed their explicit consent, so it is not necessary to submit it to the general meeting of shareholders of the company for deliberation. Within the specified limit, the general manager of the company is authorized to finalize and sign relevant implementation agreements or contracts and other documents.
(VI) information disclosure
The company will timely disclose the company’s cash management in accordance with the relevant requirements of the Shenzhen Stock Exchange GEM Listing Rules and the Shenzhen Stock Exchange GEM listed companies’ standardized operation guidelines.
2、 Impact Analysis on the company
Under the condition of ensuring normal operation and capital safety, the company uses its own funds temporarily idle for cash management and purchases financial products with high safety, good liquidity, controllable risk and stability, which will not affect the normal turnover of the company’s daily funds and the normal development of the company’s business. At the same time, it can improve the efficiency of capital use, obtain certain investment income and obtain more returns for the company and shareholders.
3、 And investment risk control measures
(I) investment risk
1. Although the investment product is a kind of investment product with controllable and stable risk, the financial market is greatly affected by the macro-economy, so it is not ruled out that the investment is affected by market fluctuations.
2. The company will intervene timely and appropriately according to the economic situation and changes in the financial market, so the actual income of short-term investment is unpredictable.
3. Operation and monitoring risks of relevant staff.
(II) risk control measures
1. In cash management, the company will choose financial products with high security, good liquidity, controllable risk and stability, and financial products with good reputation, large scale, ability to ensure capital safety, good operating efficiency and strong capital operation ability.
2. The company will analyze and track the net value change of products in real time. If the assessment finds that there are risk factors that may affect the company’s capital safety, the company will take corresponding measures in time to control the investment risk.
3. Independent directors and the board of supervisors have the right to supervise and inspect the use of funds. The Audit Department of the company shall evaluate the possible risks and benefits of various investments according to the principle of prudence and report to the audit committee of the board of directors. 4. The company will timely perform the obligation of information disclosure in accordance with the relevant provisions of Shenzhen Stock Exchange.
4、 Review procedures and approval opinions
(I) deliberations of the board of directors
The proposal on the company’s use of temporarily idle self owned funds for cash management was deliberated and adopted at the 7th Meeting of the third board of directors of the company. The board of directors agreed that the company would use temporarily idle self owned funds of no more than 150 million yuan for cash management to purchase financial products with high safety, good liquidity, controllable risk and stability, so as to increase the income of the company’s cash assets. The amount of cash management can be used on a rolling basis within one year from the date of approval by the board of directors, and the general manager of the company is authorized to finalize and sign relevant implementation agreements or contracts and other documents.
(II) deliberation of the board of supervisors
At the 7th Meeting of the 3rd board of supervisors of the company, the proposal on using temporarily idle own funds for cash management was deliberated and adopted. After review, the board of supervisors believes that: on the premise of ensuring the daily operation capital demand and capital safety, making rational use of its own funds to obtain better investment return can improve the efficiency of the company’s capital use, and there is no damage to the interests of the company and minority shareholders. The decision-making and deliberation procedures of this matter are legal and compliant. It is agreed that the company will use up to 150 million yuan of temporarily idle self owned funds for cash management to purchase financial products with high safety, good liquidity, controllable risk and stability.
(III) opinions of independent directors
Without affecting the normal operation of the company and ensuring the safety of funds, the company uses idle self owned funds of no more than 150 million yuan for cash management, which is conducive to increasing the company’s capital income and improving the efficiency of capital use. The contents and procedures comply with the Shenzhen Stock Exchange GEM Listing Rules, the Shenzhen Stock Exchange GEM listed companies’ standardized operation guidelines, the articles of association and other laws The provisions of laws and regulations and normative documents are in line with the interests of the company, and there is no situation that damages the interests of the company and all shareholders, especially small and medium-sized shareholders. Therefore, it is agreed that the company will use its own temporarily idle funds for cash management.
5、 Documents for future reference
1. Resolutions of the 7th Meeting of the 3rd board of directors;
2. Resolution of the 7th Meeting of the board of supervisors;
3. Independent opinions of independent directors;
Hangzhou Chang Chuan Technology Co.Ltd(300604) board of directors
April 22, 2022
