Gigabit releases the first external donation management system for listed companies in Xiamen
Donation of more than 30 million yuan may need to be submitted to the general meeting of shareholders for approval
Xiamen Evening NewsNews (Reporter Zhang Haijun) The behavior of external donations by listed companies is becoming more and more standardized. Yesterday, Gigabit released the first external donation management system for listed companies in Xiamen, which requires the company’s external donations to be voluntary and free, with clear rights and responsibilities, and to do within its capabilities, and the donations that have been decided or promised must be performed honestly.
According to the requirements of its external donation system, Gibbet stated that if the cumulative donation amount accounts for less than 10% of the company’s audited net profit for the most recent fiscal year, the individual donation amount accounts for more than 0.5% of the company’s most recent audited net assets and more than 3 million yuan. If the company’s board of directors approves, other donations are approved by the company’s general manager, who can also authorize the business department to do it independently within the scope of his authority. If the cumulative donation amount accounts for more than 10% of the company’s audited net profit for the most recent fiscal year, and the individual donation amount accounts for more than 0.25% of the company’s most recent audited net assets and more than 3 million yuan, the company’s board of directors shall review and approve the individual donation amount; If the company’s most recent audited net assets are more than 5% and more than 30 million yuan, it shall be submitted to the general meeting of shareholders for approval after the approval of the company’s board of directors. External donations that do not meet the approval standards of the board of directors shall be approved by the general manager of the company, who may also authorize the business department to independently conduct it within the scope of his authority. If the accumulated donation amount accounts for more than 50% of the company’s audited net profit in the most recent fiscal year, all donations shall be submitted to the general meeting of shareholders for approval after approval by the company’s board of directors.
It is reported that on July 21, Gibbet had stated that it would donate a total of 6 million yuan to the Xiamen Charity Federation and the Shenzhen Charity Association to support flood prevention and disaster relief in Henan Province.
Corporate donation is the main form of corporate social responsibility, and more and more companies are willing to donate more funds to participate in social welfare undertakings. However, some small shareholders will also question whether the donations of listed companies are suspected of “taking the shareholder’s money to squeeze the water” or purely conveying benefits. Since 2007, Suning.com has published the “External Donations Management System (Draft)” for the first A-share listed company. Since 2016, listed companies have successively announced the donation system to manage their external donations.
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