Stock Code: 002724 stock abbreviation: Ocean’S King Lighting Science & Technology Co.Ltd(002724) Announcement No.: 2022-010 Ocean’S King Lighting Science & Technology Co.Ltd(002724)
Announcement on the progress of cash management with temporarily idle funds
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.
Ocean’S King Lighting Science & Technology Co.Ltd(002724) (hereinafter referred to as “the company”) convened the third meeting of the Fifth Board of directors and the third meeting of the Fifth Board of supervisors on April 14, 2021, and the 2020 annual general meeting of shareholders on May 13, 2021. The proposal on cash management with temporarily idle raised funds was reviewed and adopted, It is agreed that the company shall use the temporarily idle raised funds of no more than RMB 150 million for cash management on a rolling basis, and select products with short-term (no more than one year), high safety and good liquidity that can ensure the safety of principal, which shall be valid for one year from the date of deliberation and approval by the general meeting of shareholders. Within the above quota and validity period, the funds can be used on a rolling basis. The board of directors, the board of supervisors, independent directors and the recommendation institution of the company have expressed their explicit consent to the above proposals. For details, please refer to cninfo.com.cn on April 16, 2021 and May 14, 2021 Relevant announcements.
The company held the third meeting of the Fifth Board of directors and the third meeting of the Fifth Board of supervisors on April 14, 2021, and the 2020 annual general meeting of shareholders on May 13, 2021. The proposal on using its own idle funds for cash management was reviewed and passed, and the company was agreed to use its own idle funds of no more than RMB 1.5 billion for cash management, The purchase of short-term (no more than one year), high security and good liquidity products that can ensure the safety of principal shall be valid for one year from the date of deliberation and approval by the general meeting of shareholders. Within the above limit and validity period, the funds can be used on a rolling basis, and the total amount of cash management products purchased by the company at any time shall not exceed the above limit. The board of directors, the board of supervisors, independent directors and the recommendation institution of the company have expressed their explicit consent to the above proposals. For details, please refer to the company’s website (www.cn. Info. Com. CN.) on April 16, 2021 and May 14, 2021 Relevant announcements.
Recently, the company used 80 million yuan of idle self owned funds for cash management. Shenzhen Ocean’S King Lighting Science & Technology Co.Ltd(002724) Lighting Engineering Co., Ltd. (hereinafter referred to as “lighting engineering company”), a wholly-owned subsidiary of the company, used 47 million yuan of idle raised funds for cash management. The specific circumstances are as follows:
1、 Basic information of cash management this time
Name of entrusted product and profit rate source of product (10000 value date, maturity date, expected annualized receipt number, Party’s product code type, yuan)
Bank Of Communications Co.Ltd(601328) Yun
Tongfu regularly guarantees the principal and floats from the corporate transportation structured deposit. There is a 91 day return of bank funds of 1 company 8000 2022-01-17 2022-04-18 1.85% – 3.40% capital (gold linked gold is bullish)
two billion six hundred and ninety-nine million two hundred and twenty thousand three hundred and forty-seven
Light China Merchants Bank Co.Ltd(600036) point
Mingjin series enterprising guaranteed capital raising 2 industrial investment promotion bullish two-tier floating 4700 2022-01-14 2022-04-14 1.65% – 3.15% 90 day return of Jicheng bank nsz02150
The company has no relationship with the above trustees.
2、 Risks of cash management and risk control measures
1. Investment risk
(1) Although cash management products that can ensure the safety of principal in the short term belong to low-risk investment varieties, financial
The market is greatly affected by the macro-economy, so it is not excluded that the investment is affected by market fluctuations;
(2) The company will timely and appropriately intervene according to the economic situation and changes in the financial market
The actual income of capital is unpredictable;
(3) Operation and monitoring risks of staff.
2. Risk control measures
(1) Within the limit, the board of directors of the company authorizes the general manager of the company and its subsidiaries to exercise the investment decision-making power
And sign relevant contracts. The company’s chief financial officer is responsible for organizing the implementation, and the relevant personnel of the company’s financial department will work in time
Analyze and continuously track the specific investment direction and project progress of cash management products, such as possible impact found in the evaluation
For the risk factors of the company’s capital safety, corresponding measures will be taken in time to control the investment risk;
(2) The company’s internal audit department is responsible for the internal audit of the fund use and custody of cash management products
Supervise and conduct a comprehensive inspection of all cash management product investment projects at the end of each fiscal year;
(3) The independent directors and the board of supervisors of the company shall supervise and inspect the use of funds, and may hire professional institutions to audit when necessary; (4) The company will do a good job of relevant information disclosure in accordance with the relevant provisions of Shenzhen Stock Exchange.
3、 Impact on the company’s operation
1. On the premise of not affecting the progress of the investment projects with raised funds and ensuring the safety of funds, reasonably use some temporarily idle raised funds for appropriate cash management, which will not affect the construction of the investment projects with raised funds and the normal development of the company’s main business. Through the cash management of the temporarily idle raised funds, the use efficiency of the raised funds can be improved, a certain investment income can be obtained, and more capital returns can be obtained for the company and all shareholders. 2. The company’s cash management with its own funds is implemented on the premise of ensuring the company’s daily operation and capital safety, which will not affect the normal needs of the company’s daily capital turnover and the normal development of the company’s main business. By purchasing products with short-term (no more than one year), high security and good liquidity that can ensure the safety of principal, we can improve the efficiency of capital use, obtain good investment return, further improve the overall performance level of the company and fully protect the interests of shareholders.
4、 The company’s use of idle raised funds and self owned funds for cash management within 12 months before the announcement date
As of the date of this announcement, the company has used the temporarily idle raised funds for cash management in the first 12 months, and the outstanding balance is RMB 61 million (including this time), which does not exceed the authorized amount of cash management using the temporarily idle raised funds deliberated by the board of directors of the company; The company has used idle self owned funds for cash management in the first 12 months, and the outstanding balance is RMB 496 million (including this time), which does not exceed the authorized amount of cash management using idle self owned funds considered by the board of directors.
5、 Documents for future reference
1. Business application, product description and risk disclosure;
2. Banking receipt
It is hereby announced
Ocean’S King Lighting Science & Technology Co.Ltd(002724) board of directors January 18, 2022
