**Abstract**
Stock Code: 002282
Securities Abbreviation: Boshen Tools
Announcement No.: 2013-037
Boshen Tools Co., Ltd. Announcement on the Use of Idle Self-Owned Funds to Invest in Bank Wealth Management Products
The company and all members of the board of directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and there are no false records, misleading statements, or material omissions.
**I. Overview of the Investment**
On December 17, 2013, Boshen Tools Co., Ltd. (hereinafter referred to as "the Company") held its third meeting of the third board of directors, during which it reviewed and approved the "Proposal on the Use of Idle Funds to Invest in Banking Wealth Management Products." The proposal allows the company to use idle self-owned funds for low-risk bank wealth management products. The total investment amount shall not exceed RMB 50 million at any given time. The board of directors has authorized the chairman to make investment decisions within this limit. The company’s management team will be responsible for implementing these financial activities, with the authorization valid for one year from the date of the board resolution. The independent directors have also expressed their approval.
This investment falls within the authority of the board of directors and does not require a shareholder vote. Additionally, this transaction does not involve any related-party transactions.
**II. Basic Situation of the Investment Target**
1. **Purpose of Investment**
The primary goal is to enhance the efficiency of capital utilization, make rational use of idle self-owned funds, and increase the company's revenue.
2. **Investment Quota**
The company will invest up to RMB 50 million in low-risk bank wealth management products. The funds can be rolled over within the specified quota.
3. **Investment Types**
The funds will only be used to invest in low-risk bank wealth management products, such as guaranteed or short-term open-end products. These investments do not fall under the scope of venture capital as outlined in the SME Board Information Disclosure Business Memorandum No. 30. The company will not invest in stocks, securities investment funds, derivatives, or other financial products that primarily focus on stocks, interest rates, or exchange rates.
4. **Investment Period**
The investment period is valid for one year from the date of the board’s resolution.
5. **Source of Funds**
The funds used for investment come from the company's idle capital and will not affect daily operations. The source is legal and compliant.
6. **Implementation**
The board authorizes the chairman to make investment decisions within the set limit, and the management team will oversee the execution of the plan.
**III. Risk Analysis and Control Measures**
1. **Investment Risks**
Although bank wealth management products are considered low-risk, market fluctuations due to macroeconomic conditions may impact returns. The company will monitor economic trends and adjust investments accordingly to manage potential risks.
2. **Risk Mitigation Strategies**
- The company will continuously analyze and track the progress of each investment. If unfavorable factors arise, immediate measures will be taken to mitigate risk.
- The Audit Department will conduct quarterly reviews of all bank wealth management projects and estimate expected returns based on prudence principles.
- The Board of Supervisors has the right to inspect the investment process regularly or upon request. If violations are found, they may recommend halting the investment.
The company prioritizes risk control, ensuring that all investment decisions are made carefully and transparently. It maintains close communication with banking partners to monitor fund performance and ensure safety.
**IV. Impact on Daily Operations**
By investing idle funds in low-risk bank wealth management products, the company aims to improve capital efficiency and generate additional income without affecting daily operations or financial stability. This strategy is expected to enhance overall company performance and provide better returns for shareholders.
Prior to this investment, the company had not engaged in any other entrusted wealth management activities.
**V. Independent Directors’ Opinions**
After reviewing the relevant documents, the independent directors believe that using idle funds to invest in low-risk bank wealth management products, while managing risks effectively, is beneficial for increasing the company’s profitability. It will not negatively impact the company’s operations or harm the interests of shareholders, especially small and medium-sized investors. The decision-making process was in compliance with applicable laws and regulations.
**VI. Board of Supervisors’ Opinion**
The Board of Supervisors supports the decision, noting that it enhances capital efficiency and improves company performance. The board followed proper procedures, and the investment does not harm the interests of the company or its shareholders.
**VII. Reference Documents**
1. Resolution of the Third Meeting of the Third Board of Directors
2. Resolution of the Third Meeting of the Third Board of Supervisors
3. Independent Directors' Independent Opinions on the Use of Idle Self-Owned Funds for Bank Wealth Management Products
**Special Announcement**
Boshen Tools Co., Ltd.
December 18, 2013
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