Home » Shenzhen Mingdiao Decoration Co., Ltd. Announcement on the Progress of Using Part of Idle Own Funds to Purchase Financial Products_Investment Cycle_Revenue_Risk

Shenzhen Mingdiao Decoration Co., Ltd. Announcement on the Progress of Using Part of Idle Own Funds to Purchase Financial Products_Investment Cycle_Revenue_Risk

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Original title: Shenzhen Mingdiao Decoration Co., Ltd. Announcement on the Progress of Using Part of Idle Own Funds to Purchase Financial Products

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.

The second meeting of the fifth board of directors and the second meeting of the fifth board of supervisors held on April 28, 2021 by Shenzhen Mingdiao Decoration Co., Ltd. (hereinafter referred to as “Mingdiao shares” or “the company”) reviewed and approved The “Proposal on Using Idle Own Funds for Cash Management”, in order to improve the efficiency of capital utilization and increase the company’s income, under the condition of ensuring the normal operation and operation capital needs of the company and its subsidiaries, it is agreed that the total amount of use by the company and its subsidiaries does not exceed RMB 800 million yuan (inclusive) of idle self-owned funds to purchase low-risk and good liquidity wealth management products issued by commercial banks and other financial institutions. Within the above quota, the funds can be used on a rolling basis. The authorization period is valid for one year from the date of deliberation and approval at the company’s 2020 annual general meeting. Regarding the above matters, the board of directors requested the general meeting of shareholders to authorize the chairman of the company to purchase wealth management products with a single transaction amount not exceeding 20% ​​of the company’s latest audited net assets and sign relevant legal documents, and the finance department will be responsible for specific purchase matters. For details, please refer to the “Announcement on Using Idle Own Funds for Cash Management” disclosed on April 30, 2021 in Securities Times, China Securities Journal and www.cninfo.com.cn (Announcement number: 2021-014). The above matters were considered and approved at the 2020 Annual General Meeting of Shareholders held on May 21, 2021. For details, please refer to the “Announcement on Resolutions of the 2020 Annual General Meeting of Shareholders” (Announcement No.: 2021) disclosed on Securities Times, China Securities Journal and www.cninfo.com.cn on May 22, 2021 -022).

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According to the above resolution, the company and its subsidiaries have announced the following matters concerning the recently purchased bank wealth management products:

1. Basic information on purchasing bank wealth management products:

(1) Bank of Jiangsu wealth management products

1. Product name: Suyin Wealth Management Hengyuan Weekly Open Rongxiang No. 1 Wealth Management Product

2. Amount of wealth management: RMB 20 million

3. Product type: fixed income, public offering, open-end

4. Expected rate of return of the product: three-month time deposit benchmark interest rate +2.0%

5. Financial term: every week is an investment cycle

6. Value date: January 21, 2022

7. Expiration date: no fixed duration

8. Source of funds for purchase: idle self-owned funds

9. Risk level: Level 2

10. Description of related relationship: the company has no related relationship with Bank of Jiangsu

(2) ICBC wealth management products

1. Product name: ICBC Wealth Management. Xintianyi 30-day profit-holding fixed income open-end corporate wealth management product

2. Amount of wealth management: RMB 10 million

3. Product type: fixed income, non-guaranteed floating income

4. Expected rate of return of the product: ChinaBond-High Credit Grade Medium-Term Note Full Price (1-3 Years) Index (CBA03423.CS) Annualized Yield +1.20%

5. Financing period: 30 days

6. Value date: January 24, 2022

7. Expiration date: February 24, 2022

8. Source of funds for purchase: idle self-owned funds

9. Risk level: PR2

10. Description of related relationship: The company has no related relationship with ICBC

(3) Bank of China wealth management products

1. Product Name: Bank of China Wealth Management – Stable Wealth and Fixed Income Enhanced (6-Month Rollover) Wealth Management Product

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2. Amount of wealth management: RMB 50 million

3. Product type: fixed income, non-guaranteed floating income

4. Product expected rate of return: 3.60% (annualized)

5. Financial term: 182 days

6. Value date: March 1, 2022

7. Expiration date: August 26, 2022

8. Source of funds for purchase: idle self-owned funds

9. Risk level: Level 2 (medium and low risk)

10. Description of related relationship: The company has no related relationship with Bank of China

2. Investment risk analysis and risk control

1. Investment risk

Although the wealth management products issued by commercial banks and other financial institutions are low-risk investment varieties, the financial market is greatly affected by the macro economy, and it cannot be ruled out that the investment is affected by market fluctuations. At the same time, there is also the risk of operating errors by the relevant staff. The company will intervene in a timely and appropriate manner according to the economic situation and changes in the financial market, so the actual benefits of fund management are unpredictable.

2. In view of investment risks, the measures to be taken are as follows:

(1) The chairman exercises the investment decision-making power and signs relevant documents, and the company’s finance department is responsible for organizing the implementation. The person in charge of the company’s financial department will analyze and follow up in time. If the assessment finds that there are risk factors that may affect the security of the company’s funds, corresponding measures will be taken in a timely manner to control investment risks.

(2) Independent directors and the board of supervisors have the right to supervise and inspect the use of funds.

(3) The financial department of the company must establish a ledger to manage the purchased products, establish and improve accounting accounts, and do a good job of accounting for the use of funds.

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(4) The company’s internal audit department is responsible for auditing and supervising the use and storage of funds for purchasing wealth management products, conducting a comprehensive inspection of all wealth management product investment projects every quarter, and reporting to the audit committee of the company’s board of directors.

(5) The company’s investment participants have the obligation of confidentiality and should not disclose relevant information to any third party. The company’s investment participants and other informed personnel should not purchase the same low-risk financial products as the company.

(6) The company will disclose the trading of wealth management products and the corresponding profit and loss in the reporting period in the regular report according to the actual purchase.

3. Influence on the daily operation of the company

The company used part of its idle self-owned funds to purchase wealth management products under the condition of ensuring the normal operation and operation capital needs of the company and its subsidiaries, and did not affect the normal operation of daily operating funds and the development of main business. By using idle self-owned funds to purchase wealth management products, certain investment returns can be obtained, and better investment returns can be obtained for the company and shareholders.

4. As of the date of this announcement, the company and its subsidiaries have used idle raised funds and idle self-owned funds to purchase unexpired wealth management products:

5. Documents available for inspection

Instructions and subscription materials for relevant financial products.

Special announcement.

Board of Directors of Shenzhen Mingdiao Decoration Co., Ltd.

February 25, 2022Return to Sohu, see more

Editor:

Disclaimer: The opinions of this article only represent the author himself, Sohu is an information publishing platform, and Sohu only provides information storage space services.

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