The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and that there are no false records, misleading statements or major omissions.
I. Approval of Idle Raised Funds for Financial Management
Maoshuo Power Technology Co., Ltd. (hereinafter referred to as the “Company”) held on June 22, 2022 the 4th interim meeting of the fifth board of directors in 2022 and the 4th interim meeting of the fifth board of supervisors in 2022, reviewed and approved the ” Proposal on the Company’s Use of Idle Raised Funds for Cash Management”, and submitted to the 1st Extraordinary General Meeting of Shareholders in 2022 to be held on July 11, 2022 for consideration and approval, agreeing:
The company and its subsidiaries use temporarily idle raised funds of not more than RMB 450 million to purchase the security provided by banks or other financial institutions without affecting the replenishment of working capital by the raised funds, the normal production and operation of the company, and the safety of the raised funds. Products with high, good liquidity, low risk, and guaranteed principal, valid for one year from the date of approval of the company’s 1st extraordinary general meeting in 2022, and a maximum investment period of no more than 12 months.
2. The use of some idle funds in the early stage for entrusted financing and redemption at maturity
On July 12, 2022, the company used idle raised funds of RMB 106 million to purchase wealth management products from Ping An Bank Co., Ltd., and the product expiration date is July 26, 2022. On July 26, 2022, the aforesaid wealth management products were redeemed due to the redemption of a principal of RMB 106 million and a wealth management income of approximately RMB 90,300, which was not significantly different from the expected income. The relevant information about the above-mentioned mature wealth management products is as follows:
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3. Overview of cash management using idle raised funds this time
(1) Purpose of cash management
The company uses part of the idle raised funds for cash management this time, in order to better realize the preservation and appreciation of the company’s raised funds and improve the efficiency of capital use. This cash management will not affect the normal progress of the investment projects with raised funds.
(2) Source of funds
This time, the idle raised funds are used for cash management.
(3) Basic information on raised funds
Approved by the China Securities Regulatory Commission “Approval for the Non-public Issuance of Shares by Maoshuo Power Technology Co., Ltd.” (licensed by the China Securities Regulatory Commission)[2022]No. 585), agreed to the company’s non-public issuance of no more than 82,298,312 new shares. The company issued 82,298,312 RMB ordinary shares (A shares) in a non-public offering at a price of RMB 5.55 per share. The total amount of funds raised was RMB 456,755,631.60. After deducting the issuance cost of RMB 4,729,072.63 (excluding tax), the actual net amount of funds raised was RMB 452,026,558.97 yuan.
The above-mentioned raised funds have all been in place on June 10, 2022, and have been verified by the “Capital Verification Report” issued by Grant Thornton Certified Public Accountants (Special General Partnership). The company adopts a special account storage system for the raised funds, and the company has deposited all the raised funds in the special account for raised funds. The company and its holding subsidiaries have signed a four-party supervision agreement on raised funds with the sponsor Zhongtai Securities Co., Ltd. and various banks.
(4) Basic information about the purchase of wealth management products
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IV. Use of idle self-owned funds and raised funds to purchase wealth management products within the 12 months prior to this announcement
As of the disclosure date of this announcement, the unexpired balance of the company’s use of temporarily idle self-owned funds for wealth management was RMB 20 million, and the unexpired balance of the company’s use of temporarily idle raised funds for wealth management was RMB 288 million (including the wealth management products involved in this announcement). ), which did not exceed the authorized limit of the company’s shareholders’ meeting to use idle self-owned funds and raised funds for cash management.
V. Influence on the daily operation of the company
At present, the company’s financial situation is stable. The company uses temporarily idle self-owned funds and raised funds for cash management. This is implemented on the premise of ensuring the safety of the company’s own funds and raised funds for investment projects, and will not affect the company’s daily business development and fundraising. The normal operation of the investment project does not change the investment direction of the raised funds in a disguised form and damage the interests of the company’s shareholders. Under the premise of controllable risks, through timely capital-guaranteed low-risk investment and financial management of temporarily idle self-owned funds and raised funds, certain investment returns can be obtained, which is conducive to improving the use efficiency of self-owned funds and raised funds and the overall performance of the company Level.
6. Risk analysis and risk control measures
(1) Risk analysis
Although the company’s investment and wealth management products are all capital-guaranteed investment products, the financial market is greatly affected by the macro economy, and it cannot be ruled out that it is affected by market fluctuations and faces policy risks, market risks, and liquidity disclosed by the wealth management product managers. Risks, force majeure risks and other common risks of wealth management products.
(2) Risk control measures
The company will strictly follow relevant laws, regulations, rules and regulations such as “Shenzhen Stock Exchange Listing Rules”, “Shenzhen Stock Exchange Self-discipline Supervision Guidelines for Listed Companies No. 1 – Standardized Operation of Main Board Listed Companies”, “Articles of Association” and other relevant laws, regulations and rules for purchasing wealth management products. Carry out decision-making, management, inspection and supervision to ensure the safety of funds. The measures to be taken are as follows:
1. The company’s financial department will analyze and track the investment direction of wealth management products and the progress of the project in a timely manner. If the evaluation finds that there are risk factors that may affect the company’s capital security, it will take corresponding measures in a timely manner to control investment risks, and based on the principle of prudence. the possible gains and losses of the investment;
2. The company’s internal audit department is responsible for auditing and supervising the use and custody of the raised funds for the purchase of wealth management products, regularly auditing the legal compliance of the wealth management products involved, and reporting to the Audit Committee;
3. Independent directors and the board of supervisors have the right to supervise and inspect the use of funds, and can hire professional institutions to conduct audits if necessary;
4. The company will fulfill its information disclosure obligations in a timely manner in accordance with the relevant requirements of the “Shenzhen Stock Exchange Listing Rules”, “Shenzhen Stock Exchange Self-discipline Supervision Guidelines for Listed Companies No. 1 – Standardized Operation of Main Board Listed Companies” and other relevant requirements.
7. Documents available for inspection
1. Relevant certificates for redemption of wealth management products
2. Relevant certificates for purchasing financial products
Special announcement.
Maoshuo Power Technology Co., Ltd.
Board of Directors
July 28, 2022Return to Sohu, see more
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