Securities code: 603358 securities abbreviation: Huada Automotive Technology Corp.Ltd(603358) Announcement No.: 2022-02 Huada Automotive Technology Corp.Ltd(603358)
About using some idle raised funds to purchase
Announcement of bank financial products (the first time in 2022)
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 individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Important content tips:
\uf020 entrusted financial management trustee: China Construction Bank Corporation(601939) Taizhou sub branch
\uf020 entrusted financial management amount: RMB 115 million
\uf020 name of entrusted financial product: corporate structured deposit product
\uf020 term of entrusted financial management: from January 11, 2022 to April 25, 2022
Review procedures performed: Huada Automotive Technology Corp.Ltd(603358) (hereinafter referred to as "the company") convened the 24th Meeting of the third board of directors and the 10th meeting of the third board of supervisors on December 29, 2021, and deliberated and adopted the proposal on adding and increasing the use limit of idle raised funds for cash management. It is decided that the company will increase the amount of idle raised funds for cash management by 30 million yuan on the basis of the amount of 160 million Yuan approved at the 15th meeting of the third board of directors on April 27, 2021, for the purchase of fixed income products such as treasury bonds, central bank bills and financial bonds, or other low-risk financial products issued by commercial banks, trust institutions and other financial institutions, Or make structured deposits in qualified financial institutions, and the above quota can be used on a rolling basis. The service life shall be from the date of deliberation and approval by the board of directors to 2022, and the website of Shanghai Stock Exchange（ http://www.sse.com.cn. ）Announcement on adding and increasing the use limit of idle raised funds for cash management (Announcement No.: 2021-070).
1、 Overview of entrusted financial management
(I) purpose of entrusted financial management
In order to improve the use efficiency and income of raised funds, make rational use of temporarily idle raised funds, and obtain more investment returns for the company and shareholders without affecting the construction of raised investment projects and the normal use of raised funds.
(II) source of funds
The source of this financial management fund is the fund raised by the company's initial public offering.
(III) basic information of entrusted financial products
The company has signed a structured deposit subscription contract with the bank, as follows:
Financial management amount expected income amount expected income amount trustee product type product name
(10000 yuan) profit rate (%) (10000 yuan)
China Construction Bank Corporation(601939) Thai unit structure
Unit structured deposit product 11500.00 1.54-3.2% state branch deposits 50.95-105.86
Whether the expected income of reference annual chemical income constitutes a structured arrangement of product term income type
Profit rate (%) (10000 yuan) related party transactions
105 day principal guaranteed no 1.54-3.2% 50.95-105.86 no
(IV) risk control measures taken by the company
1. The Finance Department of the company shall assign special personnel to timely analyze and track the investment direction of bank financial products and project progress. Once adverse factors are found or judged, corresponding preservation measures will be taken in time to control investment risks;
2. The internal audit department of the company is the supervision department of the financial product business, which conducts pre audit, in-process supervision and post audit on the financial product business of the company;
3. The independent directors and the board of supervisors have the right to supervise and inspect the use of the company's raised funds and the purchase of financial products, and can hire professional institutions to audit when necessary.
2、 Details of this entrusted financial management
(I) main terms of entrusted financial management contract
1. Product type: Principal Guaranteed floating income product
2. Purchase amount: RMB 115 million
3. Product start date: January 11, 2022
4. Subscription confirmation date (starting date of product income): January 11, 2022
5. Product expiration date: April 25, 2022
6. Expected rate of return (year): 1.54% * N1 / N + 3.2% * N2 / n. N1 = Tokyo working days in which the reference exchange rate is within the reference interval (including the interval boundary) during the observation period; N2 = Tokyo working days in which the reference exchange rate is outside the reference interval (excluding the interval boundary) during the observation period; N = number of working days in Tokyo during the observation period. Reference exchange rate during the observation period: the middle price of euro / US dollar on Bloomberg bfix page at 3:00 p.m. Tokyo time on each Tokyo working day during the observation period.
(II) investment direction of entrusted financial management funds: bank financial management fund pool
(III) risk control analysis
The products purchased by the company are low-risk structured deposit financial products. During the period of the above financial products, the Finance Department of the company will maintain close contact with the bank, timely analyze and track the progress of financial products, strengthen risk control and supervision, and ensure the safety of funds.
The company's independent directors and the board of supervisors have the right to supervise and inspect the use of funds, and can hire professional institutions to audit when necessary
3、 Information of entrusted financial management trustee
The entrusted parties China Construction Bank Corporation(601939) and Shanghai Pudong Development Bank Co.Ltd(600000) of this entrusted financial management are listed joint-stock commercial banks.
The company and its actual controllers, directors, supervisors and senior managers have no affiliated relationship with the above-mentioned trustee.
4、 Impact on the company
Unit: 10000 yuan
December 31, 2020 September 30, 2021
Total assets 508036.86 524090.74
Total liabilities 214284.44 217640.26
Net assets 293752.42 306450.47
The project is from January to December 2020 and from January to September 2021
Net cash flow from operating activities 54499.45 15143.02
Note: the financial data on December 31, 2020 has been audited, and the financial data on September 30, 2021 has not been audited.
As of September 30, 2021, the company's asset liability ratio was 41.53%, which was used by the company this time
The amount of raised funds to purchase financial products is RMB 115 million, accounting for 16.64% of the monetary funds at the end of the latest period (September 30, 2021). There is no case of purchasing large financial products while bearing large liabilities. On the premise of ensuring that the use plan and fund safety of the raised funds are not affected, in order to improve the use efficiency of the company's raised funds and increase fund income, using some idle raised funds to buy bank financial products is conducive to improving the use efficiency of the company's funds, maintaining and increasing the value of the company's cash assets, and fully protecting the interests of the company and shareholders.
5、 Risk tips
The bank financial products purchased with idle raised funds this time have high security and good liquidity, and are low-risk investment products. However, the financial market is greatly affected by macroeconomic, fiscal and monetary policies. It is not excluded that the investment may be affected by market fluctuations. 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.
6、 Implementation of decision-making procedures
On December 29, 2021, the company held the 24th Meeting of the 3rd board of directors and the 10th meeting of the 3rd board of supervisors, deliberated and adopted the proposal on adding and increasing the use limit of idle raised funds for cash management. It is agreed that the company will increase the amount of idle raised funds for cash management by 30 million yuan on the basis of the amount of 160 million Yuan approved at the 15th meeting of the third board of directors on April 27, 2021, for the purchase of fixed income products such as treasury bonds, central bank bills and financial bonds, or other low-risk financial products issued by commercial banks, trust institutions and other financial institutions, Or make structured deposits in qualified financial institutions, and the above quota can be used on a rolling basis. The service life is from the date of deliberation and approval by the board of directors to April 26, 2022. For details, please refer to the company's designated information disclosure media and the website of Shanghai Stock Exchange on December 31, 2021（ http://www.sse.com.cn. ）Announcement on adding and increasing the use limit of idle raised funds for cash management (Announcement No.: 2021-070).
The independent directors of the company expressed independent opinions on this matter, and the recommendation institution Zhongtai Securities Co.Ltd(600918) issued verification opinions on this matter
7、 As of the date of this announcement, the company has used the raised funds for entrusted financial management in the last 12 months
Unit: 10000 yuan
Order actual investment actual recovery type of financial product entrustment period fund source actual income
No. amount principal amount
China Construction Bank Corporation(601939) unit settlement
1 11000.00 2021.1.7-2021.6.29 idle raised funds 166.84 all structural deposits were recovered
Shanghai Pudong Development Bank Co.Ltd(600000) public settlement
2 8000.00 2021.1.7-2021.6.30 idle raised funds 107.64 all structural deposits were recovered
China Construction Bank Corporation(601939) unit settlement
3 11000.00 from July 5, 2021 to December 30, 2021 idle raised funds 171.66 all structural deposits were recovered
Shanghai Pudong Development Bank Co.Ltd(600000) public settlement
4 7500.00 2021.7.9-2021.10.9 idle raised funds 60.94 all structural deposits recovered
Shanghai Pudong Development Bank Co.Ltd(600000) public settlement
5 5000.00 2021.10.13-2021.11.12 idle raised funds 12.92 all structural deposits were recovered
Shanghai Pudong Development Bank Co.Ltd(600000) public settlement
6 5000.00 2021.11.17-2021.12.20 idle raised funds 13.35 all structural deposits were recovered
China Construction Bank Corporation(601939) unit settlement
7 11500 idle raised funds from January 11, 2022 to April 25, 2022 -- undue structured deposits
Total 59000 533.35
The maximum daily investment amount in the last 12 months is 11500.00
Maximum daily investment amount in the last 12 months / net assets of the last year (%) 3.91
Cumulative income from entrusted financial management in the last 12 months / net profit of the last year (%) 2.19
Currently, the used financial management limit is 11.500.00
Unused financial limit 7500.00
total
