Securities code: 002111 securities abbreviation: Weihai Guangtai Airport Equipment Co.Ltd(002111) Announcement No.: 2022-006 Weihai Guangtai Airport Equipment Co.Ltd(002111)
Announcement on using 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.
1、 Overview of cash management
1. Weihai Guangtai Airport Equipment Co.Ltd(002111) (hereinafter referred to as “the company”) convened the 32nd meeting of the 6th board of directors and the 32nd meeting of the 6th board of supervisors on January 12, 2022, deliberated and adopted the proposal on cash management using idle self owned funds.
The company’s recent payment recovery is relatively concentrated, which makes the company’s cash very abundant, exceeding the company’s short-term capital demand. In order to make full use of the company’s idle self owned funds, improve fund use efficiency and maximize shareholders’ income, it is agreed that the company and its subsidiaries intend to use idle self owned funds not exceeding 50% of the audited net assets in 2020 for cash management on the premise of ensuring that the company’s daily production and operation will not be affected and that the operation is legal and compliant, You can buy structured deposits or other financial products from banks or other financial institutions. The term starts from the date of deliberation and approval by the board of directors to the date of convening the annual board of directors in 2022. Meanwhile, it is proposed to authorize the chairman of the company to sign relevant contract documents within the above limit, and the financial director of the company is responsible for organizing the specific implementation of relevant matters.
2. According to the Listing Rules of Shenzhen Stock Exchange, the articles of association and other relevant provisions, the 12-month cumulative amount of cash management matters to be carried out in 2022 shall not exceed 50% of the audited net assets in 2020, so it is not necessary to submit them to the general meeting of shareholders for approval.
3. The company has no related relationship with the financial institutions providing financial products, and this investment does not constitute a related party transaction, nor does it constitute a major asset reorganization specified in the administrative measures for major asset reorganization of listed companies.
2、 Basic information of cash management
1. Investment purpose
In order to make full use of the company’s idle self owned funds, improve the use efficiency of funds and maximize the shareholders’ income, the company and its subsidiaries intend to use the idle self owned funds for cash management, improve the income of idle self owned funds and reasonably reduce the financial expenses on the premise of ensuring the safety of funds and the legal compliance of operation.
2. Investment quota
The company and its subsidiaries intend to use idle self owned funds not exceeding 50% of the audited net assets in 2020 for cash management, and can purchase structured deposits or other financial products from banks or other financial institutions.
3. Investment varieties
The company and its subsidiaries use idle self owned funds to purchase low-risk and stable structured deposits or other financial products through commercial banks or other financial institutions with good credit and financial conditions, no bad credit records and strong profitability. The product varieties are required to be safe and the yield is required to be higher than the bank deposit interest rate in the same period, And does not affect the normal operation of the company’s production. The company does not directly invest in domestic and foreign stocks, securities investment funds and other securities and their derivatives, nor does it invest in financial products with stocks, interest rates, exchange rates and their derivatives as the main investment targets issued by commercial banks, securities companies and other financial institutions.
4. Validity of resolution
The validity period of the resolution is from the date of deliberation and adoption at the 32nd meeting of the sixth board of directors to the date of convening the annual board of directors in 2022.
5. Authorization management of entrusted financial management
It is proposed to authorize the chairman of the company to sign relevant contract documents within the above limit, and the financial director of the company is responsible for organizing the implementation. The financial department of the company will timely analyze and track the investment direction and project progress of the entrusted financial products purchased. If it is found that there are risk factors that may affect the safety of the company’s funds, it will take corresponding measures in time to control the investment risk. 3、 Investment risk analysis and risk control measures
1. Investment risk analysis
(1) Although the risk of low-risk and stable structured deposits or other financial products is low, the financial market is greatly affected by the macro-economy, and 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) Operational risks of relevant staff.
2. Risk control measures
The company carries out relevant financial management business in strict accordance with the requirements of relevant laws and regulations such as the stock listing rules of Shenzhen Stock Exchange, the guidelines for the standardized operation of listed companies of Shenzhen Stock Exchange and the articles of association, and will strengthen the analysis and research of financial products, earnestly implement various internal control systems of the company and strictly control investment risks.
(1) It is proposed to authorize the chairman of the company to sign relevant contract documents within the above limit, and the financial director of the company is responsible for organizing the implementation. The relevant personnel of the company’s financial management department will timely analyze and track the investment direction of cash management and the progress of the project. If the assessment finds that there are risk factors that may affect the company’s capital safety, they will take corresponding measures in time to control the investment risk.
(2) The audit department shall conduct daily supervision on the use and custody of funds of structured deposits or other financial products, review the approval, actual operation, fund use and profit and loss of financial business from time to time, urge the financial department to carry out accounting treatment in time and verify the financial treatment.
(3) Independent directors and the board of supervisors have the right to supervise and inspect the purchase of structured deposits or other financial products.
(4) The company will strictly abide by the principle of prudent investment, select the investment varieties of low-risk and stable structured deposits or other financial products, and disclose the cash management and corresponding profit and loss during the reporting period in the regular report. 4、 Impact on Listed Companies
1. On the premise of ensuring the daily operation and capital safety of the company, the company appropriately carries out low-risk and stable cash management business with idle self owned funds, which will not affect the normal development of the company’s main business.
2. By purchasing low-risk and stable structured deposits or other financial products, the company can obtain certain investment income and improve the efficiency of fund management and use.
5、 Independent opinions of independent directors
At present, the company has good loan recovery, stable growth in operating performance and stable financial situation. On the basis of ensuring normal operation and capital safety, using idle free funds to purchase structural deposits or other financial products is conducive to improving capital use efficiency, improving the overall performance level of the company, and obtaining more investment returns for shareholders, which is in line with the interests of the company and all shareholders, There is no situation that damages the interests of the company and all shareholders, especially minority shareholders. We agree to the company’s use of idle self owned funds for cash management.
6、 Documents for future reference
1. Resolutions of the 32nd meeting of the 6th board of directors;
2. Resolutions of the 32nd meeting of the 6th board of supervisors;
3. Independent opinions of independent directors on relevant matters.
It is hereby announced.
Weihai Guangtai Airport Equipment Co.Ltd(002111) board of directors
January 13, 2022
