Zhejiang Jiaxin Silk Co., Ltd. Announcement on the Authorization of Using Idle Own Funds for Cash Management
The Company and all members of its board of directors guarantee the authenticity, accuracy, and completeness of the information disclosed in this announcement, and that there are no false representations, misleading statements, or material omissions.
Key Information Highlights:
- Investment Type: Wealth management products purchased from professional institutions such as banks, trusts, securities, funds, futures, insurance asset management companies, and financial asset investment companies, which are characterized by high safety and good liquidity.
- Investment Amount: The amount of idle own funds used for cash management shall not exceed RMB 600 million (inclusive). Funds can be used on a rolling basis within this limit.
- Special Risk Warning: During the investment process, there may be risks such as macroeconomic conditions, fiscal and monetary policies, exchange rate risks, yield risks, credit risks, interest rate risks, liquidity risks, legal and policy risks, and operational risks. Investors are kindly reminded to pay attention to investment risks.
Zhejiang Jiaxin Silk Co., Ltd. (hereinafter referred to as the "Company") held the fifteenth meeting of the ninth Board of Directors on March 27, 2026, and reviewed and approved the "Proposal on Authorizing the Use of Idle Own Funds for Cash Management." The relevant situation is announced as follows:
I. Investment Overview
- Investment Purpose: To further improve the utilization efficiency of the Company's short-term idle funds, enhance asset returns, and maximize the Company's benefits, without affecting the Company's normal operations and development.
- Investment Quota: The Company and its subsidiaries within the scope of consolidated financial statements shall use idle own funds for cash management within a quota not exceeding RMB 600 million (inclusive). Funds can be used on a rolling basis within the aforementioned quota.
- Investment Method (Products): Wealth management products purchased from professional institutions such as banks, trusts, securities, funds, futures, insurance asset management companies, and financial asset investment companies, which are characterized by high safety and good liquidity.
- Source of Funds: Idle own funds.
- Investment Period: From the date of approval by the Company's 2025 Annual General Meeting of Shareholders until the date of the 2026 Annual General Meeting of Shareholders makes new resolutions.
- Investment Implementation: After the proposal is reviewed and approved by the shareholders' meeting, the Board of Directors authorizes the management to make specific decisions within the authorized quota. The Company's finance department will be responsible for the specific product purchase operations for cash management.
- Other Explanations: The current cash management matter does not constitute a related-party transaction.