Changyuan Donggu Industrial Co., Ltd. Announcement on Application for Bank's Comprehensive Credit Line
Release time:
2021-04-05
Stock Code: 603950 Stock Abbreviation: Changyuan Donggu Announcement No.: 2021-014
Xiangyang Changyuan Donggu Industrial Co., Ltd.
Announcement on Applying for Bank Comprehensive Credit Line
The Board of Directors and all Directors of the Company warrant that there are no false records, misleading statements, or significant omissions in this announcement, and assume individual and joint liability for the truthfulness, accuracy, and completeness of its contents.
Xiangyang Changyuan Donggu Industrial Co., Ltd. (hereinafter referred to as the "Company") convened the 18th meeting of the Third Board of Directors on March 22, 2021, and approved the "Proposal on the Company's Application for Comprehensive Credit Line in 2021" (11 votes in favor, 0 votes against, 0 abstentions), the details are as follows:
To improve the efficiency of the company's capital utilization, reduce comprehensive financial costs, and optimize the asset structure, based on the company's production and operation and business development needs, the company and its subsidiaries plan to apply for a comprehensive credit line of no more than RMB 1.9 billion from various financial institutions in 2021, the details are as follows:
|
Cooperative Banks or Financial Institutions |
Amount (RMB 100 million yuan) |
|
Hubei Xiangyang Rural Commercial Bank Co., Ltd. |
5 |
|
Industrial and Commercial Bank of China Limited |
3 |
|
China CITIC Bank Co., Ltd. |
3 |
|
China Merchants Bank Co., Ltd. |
3 |
|
Industrial Bank Co., Ltd. |
5 |
|
Total |
19 |
The above The types of credit include various loans, bank acceptance bills, bill discounts, letters of credit, guarantees, and other financing. The company will flexibly and efficiently utilize the relevant credit lines based on the principle of prudence. The aforementioned credit lines are not equivalent to the company's actual financing amount, and the specific financing amount will be determined based on the actual needs of the company and its subsidiaries.
The Board of Directors authorizes the Chairman to handle relevant business matters and sign related contracts and documents within the aforementioned limit, based on the actual capital requirements. The validity period for the above credit line application is from the date of approval by the shareholders' meeting until the date of the next annual shareholders' meeting.
This credit application still needs to be submitted to the shareholders' meeting for deliberation.
Hereby announced.
Xiangyang Changyuan Donggu Industrial Co., Ltd.
Board of Directors
2021 March 24
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