Securities code: Hitevision Co.Ltd(002955) securities abbreviation: Hitevision Co.Ltd(002955) Announcement No.: 2022021 Hitevision Co.Ltd(002955)
Announcement on the provision of buyer’s credit guarantee for customers by the company and its subsidiaries
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.
Hitevision Co.Ltd(002955) (hereinafter referred to as “the company”) held the 12th meeting of the second board of directors on April 27, 2022, deliberated and adopted the proposal on the provision of buyer’s credit guarantee by the company and its subsidiaries for customers, which needs to be submitted to the 2021 annual general meeting of shareholders of the company for deliberation and approval before implementation.
1、 Overview of guarantee
In order to solve the payment problem of reputable customers who need financing support and further promote business development, the company and its subsidiaries (hereinafter referred to as “the seller”) plan to carry out buyer’s credit business with cooperative banks, that is, to sell products to some reputable customers (hereinafter referred to as “the buyer”) by means of “seller guarantees buyer’s financing”, based on the purchase and sales contract signed by the buyer and the seller, Under the condition that the company and its subsidiaries provide joint and several liability guarantee, the bank provides the buyer with financing business for purchasing goods from the seller. According to the business development, on the premise that the buyer provides counter guarantee measures to the company and its subsidiaries, the company and its subsidiaries intend to provide the buyer with a buyer’s credit guarantee with an accumulated amount of no more than 200 million yuan, which can be used on a rolling basis within the above limit, and the guarantee is valid from the date of deliberation and approval of the company’s 2021 annual general meeting to the date of holding the company’s 2022 annual general meeting. For the specific guarantee matters occurring within the above period and within the quota, on the premise of the approval of the above guarantee matters by the general meeting of shareholders, the general meeting of shareholders shall be requested to authorize the management of the company to handle and implement relevant matters and sign relevant documents, and no separate board of directors or general meeting of shareholders shall be held. The guarantee beyond the above limit and circumstances can be implemented only after the board of directors or the general meeting of shareholders deliberates and makes a resolution in accordance with relevant regulations.
2、 Basic information of the guaranteed
The buyer and its subsidiaries purchase the products with good 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 also meet all the following conditions:
1. Core dealers that meet the company’s classification standards;
2. In principle, the asset liability ratio of customers in the last three years shall not be higher than 70%;
3. The establishment time of the customer shall not be less than one year;
4. The customer is not an affiliated enterprise of the company;
5. The customer shall provide corresponding counter guarantee measures.
3、 Main contents of guarantee matters
According to the needs of business development, the company and its subsidiaries provide qualified customers with buyer’s credit guarantee with an accumulated amount of no more than 200 million yuan, which can be used in a rolling manner within the above limit. The guarantee is valid from the date of deliberation and approval at the 2021 annual general meeting to the date of holding the 2022 annual general meeting of the company.
The specific contents of the buyer’s credit guarantee agreement shall be subject to the actual occurrence of specific business. When the buyer’s credit business actually occurs, the company and its subsidiaries, cooperative banks and customers will sign cooperation agreements or guarantee contracts and other relevant documents.
4、 Impact, risk and risk control measures of the matter
The company’s buyer’s credit guarantee business helps the company to explore the market, develop customers, improve the contract performance ability of target customers and improve the recovery efficiency of payment for goods. However, at the same time, 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 providing guarantee for customers’ sales loans, the company will carefully select customers according to the screening criteria and conduct strict review within the company. If the customer has any of the following circumstances, the buyer’s credit business will not be considered: (1) there have been losses in the last three consecutive years;
(2) Contingent liabilities are expected to have a significant impact on its operation and financial status;
(3) Other situations identified as causing significant risks.
2. After the loan of the buyer’s credit business, the project manager and the finance department will be jointly responsible for the tracking and monitoring after the loan, including regular on-site return visits to customers, continuous attention to the situation of guaranteed customers, collection of the latest financial data and audit reports of guaranteed customers, regular analysis of their financial status and solvency, and attention to their production and operation, assets and liabilities, external guarantee, division and merger Establish relevant accounts and report to the board of directors regularly on the change of legal representative.
3. The company will require the customer to provide counter guarantee measures.
5、 Independent opinions of independent directors
The independent directors believe that the buyer’s credit guarantee provided by the company and its subsidiaries to customers is for the needs of the company’s normal production and operation, which helps the company to explore the market, develop customer resources, improve the contract performance ability of target customers, and is conducive to the recovery of the company’s accounts receivable. The company only provides buyer’s credit guarantee to customers with good reputation and bank loan conditions, and requires the guaranteed object to provide counter guarantee measures to prevent and control risks. The guarantee complies with the provisions of relevant laws, regulations, departmental rules and the articles of association. The decision-making process is legal and effective, and there is no harm to the interests of the company and all shareholders. Therefore, we unanimously agree to the proposal on the company and its subsidiaries providing buyer’s credit guarantee for customers, and agree to submit the proposal to the 2021 annual general meeting of shareholders of the company for deliberation.
6、 Verification opinions of the recommendation institution
After verification, the recommendation institution believes that the above matters have been deliberated and adopted at the 12th meeting of the second board of directors, and the independent directors of the company have issued clear consent opinions, which meet the requirements of laws, regulations and normative documents such as the company law of the people’s Republic of China, the Listing Rules of Shenzhen Stock Exchange and the provisions of the articles of association. This matter needs to be submitted to the general meeting of shareholders of the company for deliberation, There is no behavior damaging the interests of the company and shareholders. 7、 Accumulated external guarantees and overdue guarantees
As of the disclosure date of this announcement, the total balance of external guarantees provided by the company is 790 million yuan, accounting for 25.16% of the audited net assets of the company in 2021, of which the total balance of guarantees provided by the company to its holding subsidiaries is 790 million yuan, accounting for 25.16% of the audited net assets of the company in 2021; The company and its holding subsidiaries do not provide guarantees for units outside the consolidated statements. As of the disclosure date of this announcement, the company and its holding subsidiaries have no overdue guarantee, no external guarantee involving litigation, and no loss due to the judgment of losing the lawsuit due to the guarantee.
8、 Documents for future reference
1. Resolutions of the 12th meeting of the second board of directors;
2. Independent opinions of independent directors on matters related to the 12th meeting of the second board of directors of the company;
3. Dongxing Securities Corporation Limited(601198) verification opinions on Hitevision Co.Ltd(002955) and its subsidiaries providing buyer’s credit guarantee for customers.
It is hereby announced.
Hitevision Co.Ltd(002955) board of directors April 28, 2022
