Nanning Sugar Industry Co., Ltd
Securities code: Nanning Sugar Industry Co.Ltd(000911) securities abbreviation: Nanning Sugar Industry Co.Ltd(000911) Announcement No.: 2022023
Nanning Sugar Industry Co.Ltd(000911)
Announcement on carrying out financial leasing business
The board of directors does not guarantee that the information disclosed by the company is true, complete or misleading. Important:
1. Content of this transaction: Nanning Sugar Industry Co.Ltd(000911) (hereinafter referred to as “the company”) takes the equipment assets of the sugar factory directly under it as the subject matter of financial leasing, and carries out financial leasing business with Haitong Hengxin International Financial Leasing Co., Ltd. (hereinafter referred to as “Haitong Hengxin”), with a financing period of no more than two years and a total financing amount of no more than 200 million yuan; Carry out financial leasing business with Changjiang United Financial Leasing Co., Ltd. (hereinafter referred to as “Changjiang leasing”), with a financing period of no more than two years and a total financing amount of no more than 100 million yuan.
2. This transaction has been deliberated and approved at the 11th meeting of the 7th board of directors and the 11th meeting of the 7th board of supervisors held on April 25, 2022, and needs to be submitted to the 2021 annual general meeting of shareholders of the company for deliberation.
3. Haitong Hengxin and Changjiang leasing have no affiliated relationship with the company and its controlling shareholders, and this transaction does not constitute a connected transaction.
1、 Transaction overview
In order to expand financing channels and alleviate capital pressure, the company plans to adopt the financial leasing method of after-sales leaseback. With the assets of the sugar factory directly under the company, the company will carry out the after-sales leaseback financing business of no more than 200 million yuan from Haitong Hengxin and the after-sales leaseback financing business of no more than 100 million yuan from Changjiang leasing, totaling 300 million yuan.
2、 Introduction to counterparty
(I) name of the other party: Haitong Hengxin International Financial Leasing Co., Ltd
Nanning Sugar Industry Co., Ltd
Legal representative: Ding Xueqing;
Registered address: No. 599, Zhongshan South Road, Huangpu District, Shanghai, China;
Business scope: financial leasing business, leasing business, residual value treatment and maintenance of leased property, leasing transaction consultation and guarantee, and commercial factoring business related to main business;
Registered capital: 8235.3 million yuan.
Haitong Hengxin International Financial Leasing Co., Ltd. is not a dishonest executee.
(II) name of the other party: Changjiang United Financial Leasing Co., Ltd
Legal representative: Jin Jianhua;
Registered address: room 1101, floor 11 and floor 12, No. 308, Jinkang Road, China (Shanghai) pilot free trade zone;
Business scope: financial leasing business; Transfer and transfer of financial leasing assets; Fixed income securities investment business; Accept the lease deposit from the lessee; Non fixed deposits of shareholders (including three months); Interbank borrowing; Borrowing from financial institutions; Overseas loans; Sale and disposal of leased property; Economic consultation, credit asset securitization business and other businesses approved by Bank Of China Limited(601988) Industry Regulatory Commission. [for projects subject to approval according to law, business activities can be carried out only after approval by relevant departments]; Registered capital: 2450 million yuan.
Changjiang United Financial Leasing Co., Ltd. is not a dishonest executee.
3、 Basic information of transaction object
The assets used by the company for this financial lease from Haitong Hengxin and Changjiang are the equipment assets of Mingyang sugar factory, Lingli sugar factory and Dongjiang sugar factory directly under the company. The book value of the leased assets is about 300 million yuan, and the total financing amount is no more than 300 million yuan. Haitong Hengxin and Changjiang leasing will lease the above assets to the company in the form of financial leasing for continued use.
4、 Main contents of transaction contract
(I) the financial lease amount with Haitong Hengxin is no more than 200 million yuan, and the main terms are as follows:
1. Leased property: the equipment assets of Mingyang sugar factory, Lingli sugar factory and Dongjiang sugar factory directly under the company;
Nanning Sugar Industry Co., Ltd
2. Financing amount: no more than 200 million yuan;
3. Lease method: the company signs a sale and leaseback contract and a joint financial lease contract with Haitong Hengxin, which adopts the sale and leaseback method, that is, the company transfers the leased items of equipment assets of Mingyang sugar factory, Lingli sugar factory and Dongjiang sugar factory directly under Haitong Hengxin to Haitong Hengxin, and then leases them back to Haitong Hengxin. During the term of the lease contract, the company will pay the rent to Haitong Hengxin in installments according to the provisions of the sale and leaseback contract; 4. Lease term: no more than 2 years;
5. Financing cost: the lease interest rate is based on the industry interest rate; It shall be implemented in accordance with the terms of the financial leasing contract and joint financial leasing contract signed with Haitong Hengxin.
6. Ownership of leased equipment: during the lease period, the ownership of the equipment belongs to Haitong Hengxin. From the date of completion of the lease contract, after the company pays off the retained purchase price, the property right of the leased property shall be transferred from the leasing company to the company.
7. After the lease expires, the company will buy it back from Haitong Hengxin at the nominal price (100 yuan). (II) the financial lease amount of this lease with Changjiang is RMB 100 million, and the main terms are as follows:
1. Leased property: the equipment assets of Mingyang sugar factory, Lingli sugar factory and Dongjiang sugar factory directly under the company; 2. Financing amount: 100 million yuan;
3. Lease method: the company signs a sale and leaseback contract with Changjiang leasing, which adopts the sale and leaseback method, that is, the company transfers the leased items of equipment and assets of Mingyang sugar factory, Lingli sugar factory and Dongjiang sugar factory directly under Changjiang leasing to Changjiang leasing, and then leases them back to Changjiang leasing. During the term of the lease contract, the company will pay the rent to Changjiang leasing in installments according to the provisions of the sale and leaseback contract;
4. Lease term: no more than 2 years;
5. Financing cost: the lease interest rate shall be in accordance with the market interest rate, specifically in accordance with the terms of the financial lease contract signed with Changjiang leasing.
6. Ownership of leased equipment: during the lease period, the ownership of the equipment belongs to Changjiang leasing. From the date of completion of the lease contract, after the company pays off the retained purchase price, the property right of the leased property shall be transferred from the leasing company to the company.
Nanning Sugar Industry Co., Ltd
7. After the lease expires, the company will buy it back from Changjiang leasing at the nominal price (1000 yuan). 5、 Transaction purpose and impact on the company
The company’s financial leasing business and financing with existing production equipment are mainly to meet the working capital needs of the company’s operation, optimize the company’s debt structure, broaden financing channels, enable the company to obtain the working capital support required for daily operation, and further enhance its market competitiveness. This financial leasing business will not affect the normal use of the company’s production equipment, will not have a significant impact on the company’s production and operation, and will not damage the interests of the company and shareholders.
6、 Documents for future reference
1. Resolutions of the 11th meeting of the 7th board of directors of the company;
2. Resolutions of the 11th meeting of the 7th board of supervisors of the company;
3. Finance lease contract.
It is hereby announced.
Nanning Sugar Industry Co.Ltd(000911) board of directors
April 27, 2022
