Securities code: Baotou Huazi Industry Co.Ltd(600191) securities abbreviation: ST China capital Announcement No.: pro 2022029 Baotou Huazi Industry Co.Ltd(600191)
Announcement on the establishment of a wholly-owned subsidiary
The company and all directors of the board of directors 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:
● Baotou Huazi Industry Co.Ltd(600191) (hereinafter referred to as "the company") invested and established a wholly-owned subsidiary with self raised funds, with a registered capital of RMB 300 million.
● this foreign investment does not involve related party transactions and does not constitute a major asset reorganization specified in the administrative measures for major asset reorganization of listed companies. There are no major legal obstacles to this transaction and it is not necessary to submit it to the general meeting of shareholders for deliberation.
1、 Overview of foreign investment
In order to meet the needs of business expansion and strategic development, the 14th meeting of the 8th board of directors held by the company on May 23, 2002 considered and approved the proposal of the company to establish a wholly-owned subsidiary with a self raised capital of 300 million yuan.
This transaction does not constitute a connected transaction or a major asset reorganization.
There are no major legal obstacles to this transaction.
This transaction does not need to be submitted to the general meeting of shareholders for deliberation.
2、 Basic information of the proposed wholly-owned subsidiary
1. Name: subject to the approval of the market supervision department
2. Type: limited liability company
3. Executive director and legal representative: Wang Tao; Management personnel arrangement to be determined
4. Registered capital: RMB 300 million
5. Contribution method: cash contribution (source of funds: self raised by the company)
6. Business term: long term (subject to the approval of the market supervision department)
7. Business scope: food production; Food sales; Food processing and food production; Food additive production; Production of alcohol products (edible alcohol). (for items that must be approved according to law, business activities can be carried out only after being approved by relevant departments. The specific business items shall be subject to the approval documents or licenses of relevant departments) general items: Sales of food additives; Grain purchase; Grain and oil storage services; Edible Shenzhen Agricultural Products Group Co.Ltd(000061) wholesale; Edible Shenzhen Agricultural Products Group Co.Ltd(000061) primary processing; Non edible Shenzhen Agricultural Products Group Co.Ltd(000061) primary processing; Sales of agricultural and sideline products; General cargo warehousing services (excluding hazardous chemicals and other items requiring approval); Import and export agency; Import and export of goods; Wholesale of hardware products; Sales of daily necessities; Sales of building materials; Catering management; business management; Corporate image planning; Enterprise headquarters management; Conference and exhibition services; Information consulting services (excluding licensed information consulting services); Sales of feed raw materials. (except for the items that must be approved according to law, the company shall independently carry out business activities according to law with its business license)
8. Address: Binzhou City, Shandong Province (the detailed address shall be subject to the approval of the market supervision department)
The final registration information of the local regulatory authority shall prevail. At the same time, the management is authorized to handle the registration of relevant subsidiaries, and the authorization period is valid within one year from the date of adoption by the board of directors.
3、 Purpose of foreign investment and its impact on the company
The subsidiary to be established by the company will be mainly engaged in grain deep-processing business: making full use of local investment promotion policies and relying on the industrial park, the company will produce wheat protein, edible alcohol, erythritol and other products through deep processing of flour. The required investment is mainly used for raw material reserve, auxiliary equipment and facility renewal, production and operation capital turnover, etc. The capital investment will be gradually carried out with the development of production and operation, and the planned capital investment will be in place in batches within one year.
The amount of this foreign investment will be settled by the company with self raised funds, which will not have an adverse impact on the company's financial and operating conditions, and will not involve related party transactions and horizontal competition. There are no circumstances that harm the interests of listed companies and shareholders.
4、 Risk tips
The establishment of a wholly-owned subsidiary needs to be approved by the market supervision and administration department. After the establishment of a wholly-owned subsidiary, there is a risk of uncertainty in its future operation and income due to the influence of macroeconomic, industrial environment, market competition, operation and management and other factors. Please pay attention to investment risks. It is hereby announced
Baotou Huazi Industry Co.Ltd(600191)
May 24, 2022
