Announcement on Adjusting the Credit Line of Financial Institutions
Release time:
2022-12-13
Securities Code: 002438 Securities abbreviation: Jiangsu Shentong Announcement No.: 2022-072
Jiangsu Shentong Valve Co., Ltd.
Announcement on Adjusting the Credit Line of Financial Institutions
the company and all members of the board of directors to ensure that the announcement is true, accurate and complete, and the announcement of false records, misleading statements or major omissions to bear the responsibility.
Jiangsu Shentong Valve Co., Ltd. (hereinafter referred to as the "Company") at the fourth meeting of the sixth board of directors held on December 12, 2022 reviewed and approved the "Proposal on Adjusting the Credit Line Application to Financial Institutions". The announcement is as follows:
On April 17, 2022, the company held the 26th meeting of the fifth board of directors, and deliberated and passed the proposal on applying to financial institutions for a comprehensive credit line of no more than 1.73 billion yuan. In order to meet the needs of the company's operation and development, the company agreed to apply to financial institutions for comprehensive credit business of no more than 1.73 billion yuan, and finally the credit line actually approved by each bank shall prevail. For details, please refer to the Announcement on Applying to Financial Institutions for a Comprehensive Credit Line of No More than 1.73 billion Yuan (Announcement No. 2022-027) disclosed by the Company on April 19, 2022.
On July 10, 2022, the company held the 28th meeting of the fifth board of directors, deliberated and passed the proposal on increasing the comprehensive credit line from financial institutions, and agreed that the company should apply to financial institutions for a new comprehensive credit line of 0.15 billion yuan on the basis of the original credit line, The total credit line applied by the company to financial institutions shall not exceed 1880 million yuan. For details, please refer to the Announcement on Increasing the Application for Comprehensive Credit Line from Financial Institutions (Announcement No. 2022-042) disclosed by the Company on July 12, 2022.
On December 12, 2022, the company held the fourth meeting of the sixth board of directors, which deliberated and passed the proposal on adjusting the credit line applied to financial institutions. In order to ensure that the company reasonably uses the credit line of financial institutions and meets the capital demand of the company's production and operation, the company agrees to adjust the credit line applied to financial institutions, after the adjustment, the company expects to apply to various financial institutions for a credit line not exceeding RMB 2170 million (including but not limited to short-term loans, bank acceptance bills, trade financing, letter of guarantee, capital business, etc.). The above credit line is ultimately subject to the actual approval of each financial institution. The credit line shall prevail, and the specific financing amount will be determined according to the actual demand of the company's operating funds. Within the credit period, the credit line can be recycled.
Before the (I) adjustment, the company applied for credit lines from various financial institutions as follows:
Serial Number | Name of credit bank | Credit Line | Credit term | Credit Type | Credit guarantee mode |
($million) | |||||
1 | Bank of China branch in Qidong | 30,000 | 12 months | Comprehensive credit | Credit |
2 | Industrial and Commercial Bank of China branch in Qidong | 8,000 | 12 months | Comprehensive credit | Credit |
3 | Agricultural Bank of China Limited Qidong Branch | 20,000 | 12 months | Comprehensive credit | Credit |
4 | China Construction Bank branch in Qidong | 10,000 | 12 months | Comprehensive credit | Credit |
5 | China CITIC Bank Co., Ltd. Qidong Branch | 8,000 | 12 months | Comprehensive credit | Credit |
6 | Shanghai Pudong Development Bank branch in Nantong Qidong | 10,000 | 12 months | Comprehensive credit | Credit |
7 | Bank of Nanjing branch in Qidong | 10,000 | 12 months | Comprehensive credit | Credit |
8 | China Merchants Bank Co., Ltd. Nantong Branch | 20,000 | 12 months | Comprehensive credit | Credit |
9 | Industrial Bank Co., Ltd. Qidong Branch | 8,000 | 12 months | Comprehensive credit | Credit |
10 | China Everbright Bank branch in Qidong | 10,000 | 12 months | Comprehensive credit | Credit |
11 | Bank of Beijing Co., Ltd. Nantong Branch | 8,000 | 12 months | Comprehensive credit | Credit |
12 | Hengfeng Bank Co., Ltd. Nantong Branch | 8,000 | 12 months | Comprehensive credit | Credit |
13 | China Minsheng Bank branch in Qidong | 8,000 | 12 months | Comprehensive credit | Credit |
14 | Bank of Jiangsu Co., Ltd. Qidong Branch | 7,000 | 12 months | Comprehensive credit | Credit |
15 | Qidong Branch of Bank of Communications Co., Ltd. | 8,000 | 12 months | Comprehensive credit | Credit |
16 | Guangfa Bank Co., Ltd. Qidong Branch | 8,000 | 12 months | Comprehensive credit | Credit |
17 | Zheshang Bank Co., Ltd. Nantong Branch | 7,000 | 12 months | Comprehensive credit | Credit |
Total | 188,000 |
|
|
|
After the (II) adjustment, the company expects to apply for credit lines from various financial institutions as follows:
Serial Number | Name of credit bank | Credit Line | Credit term | Credit Type | Credit guarantee mode |
($million) | |||||
1 | Bank of China branch in Qidong | 30,000 | 12 months | Comprehensive credit | Credit |
2 | Industrial and Commercial Bank of China branch in Qidong | 8,000 | 12 months | Comprehensive credit | Credit |
3 | Agricultural Bank of China Limited Qidong Branch | 20,000 | 12 months | Comprehensive credit | Credit |
4 | China Construction Bank branch in Qidong | 10,000 | 12 months | Comprehensive credit | Credit |
5 | China CITIC Bank Co., Ltd. Qidong Branch | 5,000 | 12 months | Comprehensive credit | Credit |
6 | Shanghai Pudong Development Bank branch in Nantong Qidong | 10,000 | 12 months | Comprehensive credit | Credit |
7 | Bank of Nanjing branch in Qidong | 10,000 | 12 months | Comprehensive credit | Credit |
8 | China Merchants Bank Co., Ltd. Nantong Branch | 20,000 | 12 months | Comprehensive credit | Credit |
9 | Industrial Bank Co., Ltd. Qidong Branch | 8,000 | 12 months | Comprehensive credit | Credit |
10 | China Everbright Bank branch in Qidong | 10,000 | 12 months | Comprehensive credit | Credit |
11 | Bank of Beijing Co., Ltd. Nantong Branch | 8,000 | 12 months | Comprehensive credit | Credit |
12 | Hengfeng Bank Co., Ltd. Nantong Branch | 8,000 | 12 months | Comprehensive credit | Credit |
13 | China Minsheng Bank branch in Qidong | 8,000 | 12 months | Comprehensive credit | Credit |
14 | Bank of Jiangsu Co., Ltd. Qidong Branch | 7,000 | 12 months | Comprehensive credit | Credit |
15 | Qidong Branch of Bank of Communications Co., Ltd. | 8,000 | 12 months | Comprehensive credit | Credit |
16 | Guangfa Bank Co., Ltd. Qidong Branch | 10,000 | 12 months | Comprehensive credit | Credit |
17 | Zheshang Bank Co., Ltd. Nantong Branch | 7,000 | 12 months | Comprehensive credit | Credit |
18 | Export-Import Bank of China Jiangsu Branch | 20,000 | 12 months | Comprehensive credit | Credit |
19 | HSBC Bank (China) Limited Nantong Branch | 10,000 | 12 months | Comprehensive credit | Credit |
Total | 217,000 |
|
|
|
In order to facilitate the handling of the comprehensive credit granting with the above-mentioned financial institutions, the board of directors of the company authorized Mr. Wu Jianxin, director and president of the company, to sign the relevant documents within the above-mentioned credit line with the financial institutions on behalf of the company. The authorization period is until the end of this matter, and the trustee shall faithfully perform his obligations.
According to the "Articles of Association" and other relevant regulations, this adjustment of the comprehensive credit line is within the scope of approval by the board of directors and does not need to be submitted to the general meeting of shareholders for deliberation.
It is hereby announced.
Board of Directors of Jiangsu Shentong Valve Co., Ltd.
13 December 2022
Key words:
Recommend News