Zheng Quan Zhi Xing·2025-07-18 16:24General Principles - The purpose of the external investment management system is to standardize the external investment behavior of the company, prevent investment risks, improve investment efficiency, and protect the interests of the company and its investors [1] - External investment refers to the activities where the company transfers its assets to obtain another asset for wealth increase or other benefits [1] Types of Investments - Short-term investments are defined as investments that can be liquidated at any time and held for no more than one year, including various stocks, bonds, funds, or other securities [2] - Long-term investments are those held for more than one year and include bond investments, equity investments, and other types of investments [2] Decision-Making Authority - The decision-making bodies for external investments include the shareholders' meeting, the board of directors, and the chairman, each operating within their respective authority [3] - Certain external investment matters require approval from the shareholders' meeting, particularly those involving amounts over RMB 30 million or transactions that exceed 5% of the company's latest audited net asset value [3][4] Investment Approval Process - The board of directors has the authority to decide on external investments below the thresholds set in the previous section [4] - The chairman can independently exercise investment authority for projects not exceeding 10% of the company's latest audited net asset value [4][5] Implementation and Management - Prior to making significant external investments, a feasibility study must be conducted, analyzing investment return rates, internal rates of return, payback periods, and other relevant factors [5] - The company must sign investment contracts or agreements with the invested parties and ensure proper documentation and authorization for the investment [6] Asset Management - Investment assets can be managed by independent institutions or by the company itself, with strict control measures in place to prevent fraud [7] - The finance department is responsible for maintaining complete accounting records of the company's external investment activities [7][8] Information Disclosure - The company's external investment activities must comply with current accounting standards and disclosure requirements for publicly listed companies [8][9] Miscellaneous - The board of directors is responsible for interpreting the external investment management system, which will take effect upon approval by the shareholders' meeting [9]