Home Business Stock code: 002677 Stock abbreviation: Zhejiang Meida Code: 2021-037 Zhejiang Meida Industrial Co., Ltd. Announcement on Using Idle Own Funds to Purchase Trust Products|Zhejiang Meida_Sina Finance_Sina.com

Stock code: 002677 Stock abbreviation: Zhejiang Meida Code: 2021-037 Zhejiang Meida Industrial Co., Ltd. Announcement on Using Idle Own Funds to Purchase Trust Products|Zhejiang Meida_Sina Finance_Sina.com

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Original title: Securities code: 002677 Securities abbreviation:Zhejiang American University Number: 2021-037 Announcement of Zhejiang Meida Industrial Co., Ltd. on Using Idle Own Funds to Purchase Trust Products

The company and all members of the board of directors guarantee that the information disclosed is true, accurate, and complete, and there are no false records, misleading statements or major omissions.

Zhejiang Meida Industrial Co., Ltd. (hereinafter referred to as the “Company”) held the sixth meeting of the fourth board of directors on April 7, 2021. It reviewed and passed the “Proposal on Using Idle Own Funds for Cash Management” and agreed to the company Use temporarily idle self-owned funds of no more than RMB 900 million to purchase bank wealth management products, trust products, and collective asset management plans for cash management. The funds can be recycled within the above-mentioned quota. At the same time, the company’s management is authorized to implement the above-mentioned financial management matters, and the authorization period is valid within 12 months from the date of approval by the general meeting of shareholders. (Announcement No.: 2021-012), and passed the resolution of the shareholders meeting on April 30, 2021 (Announcement No.: 2021-018).

Recently, the company and Zhongrong International Trust Co., Ltd. (hereinafter referred to as “Zhongrong International” and “trustee”) signed the “Trust Contract of Zhongrong-Longsheng No. 1 Collective Fund Trust Plan”, and the company used idle self-owned funds to Rong International purchased collective fund trust plan products with a total amount of RMB 500 million. The relevant matters are hereby announced as follows:

1. The basic situation of the trustee

1. Company name: Zhongrong International Trust Co., Ltd.

2. Date of establishment: January 15, 1993

3. Registered address: No. 277, Chuangxin 2nd Road, Science and Technology Innovation City, Songbei District, Harbin

4. Type of institution: non-bank financial institution, trust company

5. Legal representative: Liu Yang

6. Registered capital: 12 million yuan

7. Business scope: (1) Capital trust; (2) Movable property trust; (3) Real estate trust; (4) Marketable securities trust; (5) Other property or property rights trust; (6) As investment fund or fund management company The promoters of the company are engaged in investment fund business; (7) Operating corporate asset restructuring, mergers and acquisitions and project financing, corporate financial management, financial consulting, etc.; (8) Entrusted to operate the securities underwriting business approved by the relevant departments of the State Council; (9) Handling intermediary, Consultation, credit investigation, etc.; (10) Depository and safe deposit box business; (11) Use of inherent property by depositing interbanks, dismantling interbanks, loans, leasing, and investment; (12) Providing guarantees for others with inherent properties ; (13) Engage in inter-bank lending; (14) Laws and regulations orBank of ChinaOther businesses approved by the Industrial Regulatory Commission.

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2. Purchase of trust products

1. Investment direction of trust plan funds: trust funds are collectively managed, used, and disposed of by the trustee in their own name, and adhere to the concept of maximizing benefits under the principle of prudent investment. According to the weight of risk, through investment equity, equity income rights, etc. , To invest trust funds in high-quality enterprises and projects in industries such as mineral energy, people’s livelihood engineering, etc.;

2. The payment of trust income and benefits: For a Type B trust unit whose expected expiry date of the trust unit’s expected life is earlier than the expiry date of the expected life of the trust plan, if the trust unit does not terminate or enter the trust plan early within the expected life of the trust unit During the liquidation period, the trust benefits will be paid out of the trust benefits corresponding to these Type B trust units. When the trust plan is terminated, as far as all trust units are concerned, the trust benefits shall be paid on the payment date (termination).

3. Distribution of trust property: on any payment date during the duration of the trust plan (that is, excluding the payment date (termination)), the trust property shall be distributed in the following order. If any of the following payment dates does not require any payment If there is a distribution, go directly to the distribution of the next item. If multiple types of trust units are involved in the same item, but only one type of trust unit needs to distribute the corresponding trust benefits on any payment date, only the trusts of the type of trust units that need to be distributed will be distributed Benefit.

3. Description of the relationship:

The company has no associated relationship with Zhongrong International Trust Co., Ltd.

4. Disclosure of main risks

1. Policy risk and market risk

Adjustments and changes in national monetary policy, fiscal and taxation policies, macro policies, and related laws and regulations will affect the establishment and management of this trust plan, thereby affecting the income of the trust property, and thus the income of the beneficiaries.

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2. Independence risk of trust property

The registration system of trust property in my country has not been formally established. The equity of the invested enterprise or other trust property held by the trustee may be treated as the trustee’s inherent property, the relevant trust property is separated from the trustee’s inherent property, the trust property cannot be enforced, and other protections The relevant provisions of the trust property may have different understandings in practice, and therefore may have an adverse effect on the interests of the trustor and the beneficiary.

3. Interest rate risk

During the duration of the trust plan, the state may adjust deposit and loan interest rates. If the loan interest rate is raised, it will increase the financing cost of the invested company, have a certain impact on the operation of the invested company, and then affect the investment income of the trust plan.

4. Credit risk and realization risk of guarantee rights

When the trust funds are used, if the counterparty of the trustee fails or fails to fully perform its obligations, it may cause losses to the trust property, thereby causing losses to the trustor or beneficiary. When the trustee (representing the interests of all beneficiaries) needs to realize the security rights, there is a risk that the mortgage (pledge) will be realized at a substantial discount or the collateral cannot be realized in time due to administrative approval and other reasons, or the guarantor will not perform its guarantee obligations in accordance with the contract. This may cause losses to the trust property and cause losses to the trustor or beneficiary.

5. Asset liquidity risk

If the invested company invested by the trust plan is a non-listed company, the liquidity of the equity of the invested company obtained through equity investment is relatively low, and some industries may also face legal and regulatory restrictions on the transfer of rights, and these factors may affect the trust The planned liquidity arrangement.

6. Operational risk

The invested company/borrower may result in reduced profits, reduced asset values, and safety accidents due to poor management. These circumstances may further cause the invested company/borrower to fail to repay the trust loan in full on time or cause the trust plan to hold The value of the equity of the invested enterprise decreases, which adversely affects the trust property and affects the trust’s interests.

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5. Risk response measures

1. The relevant personnel of the company’s financial department will analyze and track the investment direction of trust products and the progress of the project in a timely manner. If the assessment finds that there are risk factors that may affect the company’s fund security, they will take corresponding measures in a timely manner to control investment risks;

2. The company’s internal audit department is responsible for internal audit and supervision of trust product investment and other matters;

3. The company’s independent directors and board of supervisors shall supervise and inspect the use of funds, and may hire professional institutions to conduct audits when necessary;

4. The company will disclose the purchase and profit and loss of wealth management products during the reporting period in regular reports in accordance with the relevant regulations of the Shenzhen Stock Exchange.

Sixth, the impact on the company’s operation and profit and loss

1. The company used idle self-owned funds to purchase trust products this time under the premise of ensuring the company’s daily operations and the safety of funds, and will not affect the normal development of the company’s business.

2. Appropriate short-term financial management can improve the efficiency of capital use, obtain a certain investment benefit, increase the company’s income, and conform to the interests of the company’s shareholders.

7. Purchases of wealth management products by the company in the twelve months before the announcement

As of the date of this announcement, the company has used idle self-owned funds to purchase wealth management products of RMB 120 million (including RMB 500 million this time) in the past twelve months, of which RMB 50 million has expired, and the accumulated income is RMB 28,091,900; The general meeting of shareholders authorizes the board of directors to invest in the amount range and investment period of wealth management products.

8. Documents available for inspection

1. The trust contract of Zhongrong-Longsheng No. 1 collective fund trust plan;

2. Zhongrong-Longsheng No. 1 collective fund trust plan specification;

3. Confirmation of purchase information for Zhongrong-Longsheng No. 1 collective fund trust plan.

Zhejiang Meida Industrial Co., Ltd.

Board of Directors

November 25, 2021

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