Listed on the Shanghai Stock Exchange ·603950.SH
Announcement of Xiangyang Changyuan Donggu Industrial Co., Ltd. Regarding the Application for a Comprehensive Bank Credit Line
Release date:
2021-04-05
Security Code: 603950 Security Abbreviation: Changyuan Donggu Announcement No.: 2021-014
Xiangyang Changyuan Donggu Industrial Co., Ltd.
Announcement Regarding the Application for a Comprehensive Bank Credit Line
The Board of Directors and all directors of this company hereby certify that the contents of this announcement contain no false records, misleading statements, or material omissions, and they individually and jointly assume responsibility for the truthfulness, accuracy, and completeness of its contents.
Xiangyang Changyuan Donggu Industrial Co., Ltd. (hereinafter referred to as the “Company”) held the eighteenth meeting of its third board of directors on March 22, 2021, at which the proposal titled “Proposal Regarding the Company’s Application for a Comprehensive Credit Line for 2021” was reviewed and approved (11 votes in favor, 0 against, 0 abstentions), as follows:
To enhance the efficiency of the company’s capital utilization, reduce overall financing costs, and optimize its asset structure, and in accordance with the company’s production, operational, and business development needs, the company and its subsidiaries plan to apply to various financial institutions for a total credit line not exceeding RMB 1.9 billion for the year 2021, as detailed below:
|
Partner banks or financial institutions |
Amount (RMB billion) |
|
Hubei Xiangyang Rural Commercial Bank Co., Ltd. |
5 |
|
Industrial and Commercial Bank of China Limited |
3 |
|
China CITIC Bank Corporation Limited |
3 |
|
China Merchants Bank Co., Ltd. |
3 |
|
Industrial Bank Co., Ltd. |
5 |
|
Total |
19 |
The above The types of credit facilities include various loans, bank acceptance bills, bill discounting, letters of credit, guarantees, and other forms of financing. The company will prudently and flexibly utilize the relevant credit lines in an efficient manner. The aforementioned credit limits do not represent the company’s actual amount of financing; the specific financing amount will be determined based on the actual needs of the company and its subsidiaries.
The Board of Directors has authorized the Chairman, within the aforementioned limit and based on actual funding needs, to handle all related matters in full authority and to sign relevant contracts and documents. The validity period of the aforementioned credit line application shall commence on the date of approval by the Shareholders’ Meeting and expire on the date of the convening of the next annual Shareholders’ Meeting.
This application for a credit line still requires approval by the shareholders’ meeting.
This is hereby announced.
Xiangyang Changyuan Donggu Industrial Co., Ltd.
Board of Directors
2021 March 24
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Xiangyang Changyuan Donggu Industry Co., Ltd.
396 Zuanshi Avenue (Hongshantou Industrial Park), Xiangzhou District, Xiangyang, Hubei 441104, China
SSE Main Board: 603950
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