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6. Report on Authorizing the Company’s Chairman and Management Team to Apply for Bank Credit Lines and Loan Limits for the Year 2022
2021 Document No. 6 of the Annual General Meeting
Regarding the Authorization of the Company’s Chairman and Management Team
2022 Report on Annual Application for Bank Credit Lines and Loan Limits
Dear Shareholders:
To ensure the Company’s normal production and operational needs, enhance the efficiency of capital utilization, strengthen the Company’s creditworthiness, reduce the costs associated with banking relationships, and facilitate more convenient access to bank credit and loans, the Board of Directors proposes to authorize the Company’s General Manager and Chief Financial Officer, within the aggregate bank credit limit of RMB 1.2 billion, and the Chairman of the Board, within the aggregate loan limit of RMB 800 million, to exercise full authority over the Company’s bank credit and loan activities. The authorization shall be effective from January 1, 2022, to June 30, 2023.
The bank’s total comprehensive credit line has increased by RMB 200 million, primarily due to The company’s production and engineering project scale has expanded overall; to ensure the needs of production operations and construction projects, it is necessary to appropriately increase the utilization of bank acceptance bills and letters of guarantee.
Please review the above report.
2022 May 18, Year