Securities code: Shanghai Step Electric Corporation(002527) stock abbreviation: Shanghai Step Electric Corporation(002527) Announcement No.: pro 2022020 Shanghai Step Electric Corporation(002527)
Application for comprehensive credit line from financial institutions in 2022
And provide guarantee within the limit
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.
Shanghai Step Electric Corporation(002527) (hereinafter referred to as "the company") in order to meet the needs of production, operation and business development of the company and its subsidiaries, the 20th meeting of the 5th board of directors and the 14th meeting of the 5th board of supervisors held on April 23, 2022 considered and adopted the proposal on applying to financial institutions for comprehensive credit line in 2022 and providing guarantee within the line. The specific situation is hereby announced as follows:
1、 In 2022, the company and its subsidiaries intend to apply for comprehensive credit from banks
Unit: 10000 yuan
Full name of financial institution to apply for comprehensive credit remarks to apply for comprehensive credit (including this number)
Quota (including this amount)
Bank Of Communications Co.Ltd(601328) Shanghai Jiading no more than 115000, including 300 million asset pool (bill pool) business and 200 million loan business of fufangxin sub branch, which are guaranteed by the company.
Among them, the buyer's credit business is 50 million yuan, and the company provides China Minsheng Banking Corp.Ltd(600016) Shanghai no more than 85000 guarantee. The subsidiary Shanghai Xiaoao Hengrong automobile industry equipment Hongkou sub branch Co., Ltd. uses the line of 150 million under the company's comprehensive credit, and the company provides joint guarantee and repayment commitment for it.
Shanghai Pudong Development Bank Co.Ltd(600000) not more than 35000 Shanghai Jiading sub branch
Guangdong Development Bank Co., Ltd. Shanghai Jiading no more than 60000, including 100 million asset pool (bill pool) business, which is guaranteed by the company's sub branch.
Bank Of Ningbo Co.Ltd(002142) Shanghai branch shall not exceed 60000, of which the asset pool (bill pool) business is 400 million, which is guaranteed by the company.
Ping An International Financial Leasing Co., Ltd. carries out financial leasing business for no more than 10000, which is guaranteed by the company.
China Construction Bank Corporation(601939) Shanghai no more than 38000 Jiading sub branch
Bank Of Communications Co.Ltd(601328) Dongguan Chang'an no more than 20000 company provides guarantee for the credit business of the subsidiary Guangdong zhongweixing Siasun Robot&Automation Co.Ltd(300024) Co., Ltd. sub branch.
China Zheshang Bank Co.Ltd(601916) Hangzhou Yuhang sub branch carries out asset pool (bill pool) business no more than 2000, which is guaranteed by the company.
Bank Of Communications Co.Ltd(601328) Shenzhen Xiangzhou sub branch no more than 1000
Shenzhen China Minsheng Banking Corp.Ltd(600016) Keyuan sub branch no more than 2000
Not more than 428000 in total
In 2022, the total amount of comprehensive credit lines (including guarantees) proposed to be applied by the company and its subsidiaries to the above financial institutions shall not exceed RMB 4.28 billion, and the total amount of guarantees provided within the credit lines shall not exceed RMB 1.52 billion, of which the total amount of guarantees for asset pool (bill pool) business shall not exceed RMB 820 million, the total amount of guarantees for buyer's credit business shall not exceed RMB 250 million, and the total amount of guarantees for financial leasing business shall not exceed RMB 100 million, The total amount of guarantee for the subsidiary Guangdong zhongweixing Siasun Robot&Automation Co.Ltd(300024) Co., Ltd. (hereinafter referred to as "Guangdong zhongweixing") shall not exceed 200 million yuan, and the total amount of guarantee for the subsidiary Shanghai Xiaoao Hengrong Automobile Industrial Equipment Co., Ltd. (hereinafter referred to as "Xiaoao Hengrong") shall not exceed 150 million yuan. The above lines include this number, which can be used in a rolling manner within the above lines, and the final credit line (including guarantee) actually approved by each financial institution shall prevail. The credit business to be carried out by the company and its subsidiaries includes but is not limited to working capital loan, project loan, bank acceptance bill, commercial acceptance bill, credit granting, letter of credit, letter of guarantee, supply chain finance, bill discount, financial leasing, Bill pool and other businesses. The term of credit (including guarantee) is from the date of deliberation and approval by the 2021 annual general meeting of shareholders to the date of convening the 2022 annual general meeting of shareholders. The above credit application line (including guarantee) is not equal to the actual financing amount of the company (including subsidiaries). The actual financing amount should be within the credit line (including guarantee), subject to the actual financing amount between the bank and the company (including subsidiaries). The specific financing amount will be reasonably determined according to the actual capital demand of the company.
The application for comprehensive credit line from financial institutions and the provision of guarantee within the line need to be submitted to the 2021 annual general meeting of shareholders of the company for deliberation. Before the approval of the next annual (2022) general meeting of shareholders, and before the board of directors of the company makes a new proposal, modification and approval, the proposal will continue to be valid for another year. The board of directors of the company will request the general meeting of shareholders to authorize the legal representative of the company or the authorized agent designated by the legal representative to handle all relevant procedures within the above credit line (including guarantee) and sign relevant legal documents.
2、 Matters concerning the proposed asset pool (bill pool) business and the guarantee provided by the company
1. Overview of asset pool (bill pool) business
1) Business Overview:
Asset pool refers to the comprehensive financial service platform integrating asset management and financing services provided by cooperative financial institutions to meet the needs of enterprises or enterprise groups for unified management and overall use of their financial assets. It is the main carrier for cooperative financial institutions to provide liquidity services to enterprises.
Asset pool business refers to the businesses and services of financial assets entering and leaving the pool and pledge financing carried out by cooperative financial institutions to enterprises or enterprise groups based on the asset pool platform.
Assets in the asset pool include but are not limited to certificates of deposit, bonds, funds, commercial bills, letters of credit, financial products, export accounts receivable, Chinese accounts receivable, factoring, rent receivable and other financial assets legally held by enterprises and recognized by cooperative financial institutions.
The bill pool business under the asset pool is the bill management service provided by cooperative financial institutions for the company and its holding subsidiaries. In order to meet the needs of enterprise customers for unified management and overall use of commercial bills held by them, cooperative financial institutions provide enterprises with comprehensive bill management services integrating bill trusteeship and collection, bill pledge pool financing, bill discount, Bill agent query, business statistics and other functions.
2) Cooperative banks: Bank Of Communications Co.Ltd(601328) Shanghai Jiading sub branch, Shanghai Jiading sub branch of Guangdong Development Bank Co., Ltd. Bank Of Ningbo Co.Ltd(002142) Shanghai Branch, China Zheshang Bank Co.Ltd(601916) Hangzhou Yuhang sub branch and other banks with good credit in China.
3) Business term: 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
4) Implementation quota: the company and its subsidiaries within the scope of consolidated statements share an asset pool (bill pool) quota of no more than RMB 820 million, that is, the cumulative spot balance of pledged bills used to carry out asset pool (bill pool) business with all cooperative banks does not exceed RMB 820 million. Within the above quota and business term, it can be recycled and used. The specific amount of each transaction shall be determined by the chairman authorized by the board of directors according to the business needs of the company and its subsidiaries.
5) Guarantee method: under the premise of controllable risk, the company and its subsidiaries within the consolidation scope can guarantee the establishment and use of asset pool (bill pool) by maximum amount pledge, general pledge, certificate of deposit pledge, bill pledge, guarantee deposit pledge and other reasonable methods. The specific form and amount of each guarantee shall be submitted to the general meeting of shareholders of the company to authorize the chairman of the company to determine according to the business needs of the company and its subsidiaries within the scope of merger and in accordance with the principle of maximizing interests, but shall not exceed the business quota of capital pool (bill pool).
2. Purpose of carrying out asset pool (bill pool) business
Through the pooling of valuable financial assets such as bank acceptance bills and structured deposits, we can effectively activate the company's economic resources occupied by financial assets and realize the balanced management of income, risk and liquidity on the premise of keeping the configuration and proportion of financial assets unchanged.
Accounts receivable approved by the bank are pooled, which enables the company to convert relatively inactive accounts receivable into working capital and improve the profitability and solvency of the enterprise.
The company can use the existing financial assets in the asset pool (bill pool) as pledge and issue valuable bills such as commercial acceptance bills, bank acceptance bills and letters of credit that do not exceed the pledge amount to pay the supplier's payment for goods and other operating expenses, which is conducive to reducing the occupation of monetary funds, improving the use efficiency of current assets and maximizing shareholders' equity.
3. Risk and risk control of asset pool (bill pool) business
1) Liquidity risk
In order to carry out the asset pool (bill pool) business, the company needs to open a special margin account for asset pool pledge financing business in the cooperative bank as the entry account for the due collection of pledged bills and other financial assets under the asset pool (bill pool). The inconsistency between the maturity dates of financial assets such as notes receivable and notes payable will lead to the collection of funds into the company's margin account, 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 financial assets such as newly received notes, and try its best to prevent the occurrence of capital liquidity risk.
2) Guarantee risk
The company uses the bills and other financial assets entering the capital pool (bill pool) as pledge, and applies to the cooperative bank for issuing bank acceptance bills for external payment. With the maturity of the pledged assets, the company will gradually handle the collection and settlement. If the amount of the pledged guarantee is insufficient, the cooperative bank will require the company to add margin.
Risk control measures: the company will arrange special personnel to connect with cooperative banks, establish asset pool accounts, track and manage, timely understand the collection and payment of expired financial assets, arrange the company's newly received bills and other financial assets into the pool, ensure sufficient amount of pledge, and try to control margin increase.
3、 Matters concerning the proposed buyer's credit business and the guarantee provided by the company
1. Overview of guarantee
In order to solve the payment problem of customers with good reputation and need financing support and further promote business development, the company plans to carry out buyer's credit business with Bank Of Communications Co.Ltd(601328) Shanghai Jiading sub branch and China Minsheng Banking Corp.Ltd(600016) Shanghai Hongkou sub branch, that is, to sell products to some customers with good reputation of the company and its subsidiaries by means of "seller guarantees buyer's financing", which is based on the purchase and sales contract signed between the buyer and the seller, Under the condition that the seller provides joint and several liability guarantee, the bank provides the buyer with financing business for purchasing goods from the seller, and the financing is directly entrusted by the bank to pay to the company. The company controls the total balance of buyer's credit guarantee business. According to the business development, the total balance of financing guarantee provided for customers handling buyer's credit business shall not exceed 250 million yuan. The guarantee mode is joint and several liability guarantee, which 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. The term of a single credit business under the buyer's credit business is within 12 months.
2. Basic information of the guaranteed
The guaranteed is a reputable customer who purchases products from the company and its subsidiaries by means of buyer's credit. The guarantor of buyer's credit shall be subject to the actual occurrence of specific business.
Customers who intend to implement buyer's credit are customers with good reputation and bank loan conditions, and must all meet the following conditions:
(1) The corporate governance structure is standardized and the operation is in good condition;
(2) There is no overdue debt to the company;
(3) There are physical factories, the actual subscribed capital or net assets are more than 10 million, and the asset liability ratio is less than 70%; (4) The customer promises to provide repayment guarantee for the separable stock assets with more than 150% of the loan amount. The assets are not mortgaged or guaranteed, and are not allowed to be mortgaged or guaranteed in the future without the permission of the company;
3. Main contents of guarantee matters
According to the needs of business development, the balance of buyer's credit guarantee provided by the company to customers who purchase the products of the company and its subsidiaries shall not exceed 250 million yuan. Qualified and reputable corporate customers (borrowers) can apply for loans from the bank within the above buyer's credit line. The loan amount, interest rate and other specific contents shall be subject to the specific contract signed between the bank and the borrower.
4. Impact on the company and guarantee risk control measures
The company's buyer's credit guarantee business is conducive to promoting and expanding the sales strength and market share of the company's and its subsidiaries' products, helping the company and its subsidiaries to explore the market, develop customers, promote business development, improve the contract performance ability of target customers, improve the recovery efficiency of payment for goods, and optimize the asset liability structure. However, there are also risks of customer repayment and overdue guarantee. In order to strengthen the risk control of buyer's credit business, the company will take the following risk control measures:
(1) Before deciding to provide guarantee for a customer's sales loan, the customer object will be carefully selected according to the screening criteria and strictly reviewed within the company. If the customer has any of the following circumstances, the buyer's credit business will not be considered:
1) Losses in any of the last three years;
2) Contingent liabilities are expected to have a significant impact on the company's operation and financial status;
3) Being subjected to administrative and economic penalties such as industry and commerce, taxation, health, customs and quality supervision due to major violations and illegal business operations;
4) Major safety and quality accidents and major pending lawsuits have a significant impact on its solvency
