Zheng Quan Zhi Xing·2025-08-08 16:11Core Viewpoint - The article outlines the external investment management system of Great Wall Motor Co., Ltd., which aims to standardize external investment behaviors, mitigate investment risks, and enhance investment efficiency while protecting the interests of the company and its investors [1][2]. Summary by Sections General Principles - The system is established in accordance with relevant laws and regulations, including the Company Law and Securities Law of the People's Republic of China, as well as stock exchange rules [1]. - External investment is defined as the activity of transferring company-owned assets to obtain another asset for wealth increase or other benefits [1][2]. Types of Investments - Investments are categorized into short-term and long-term. Short-term investments are those that can be liquidated within one year, while long-term investments are held for over a year and include various forms such as equity and debt 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 [2][3]. - Certain investment matters require approval from the shareholders' meeting, especially those involving significant amounts or related party transactions [3][4]. Investment Approval Process - Investments exceeding specific thresholds must be reviewed by the board and approved by the shareholders' meeting. The thresholds include investments over RMB 30 million or those constituting more than 5% of the company's latest audited net asset value [3][4]. - The board has the authority to decide on investments below these thresholds, while the chairman can independently approve smaller investments [4][5]. Implementation and Management - Prior to making significant investments, a feasibility study must be conducted, analyzing various financial metrics such as return on investment and payback period [5][6]. - The company must maintain strict budget management for investments, allowing for reasonable adjustments based on actual circumstances [6][7]. Asset Management and Oversight - Investment assets must be properly documented and managed, with strict controls in place to prevent fraud [7][8]. - The finance department is responsible for comprehensive accounting records of investment activities, ensuring compliance with accounting standards [8][9]. Compliance and Reporting - The company's investment activities must adhere to national laws and regulations, and the board is responsible for interpreting the investment management system [9].