| Full text of information |
According to relevant agreements such as the Fund Contract of China Sea Huifeng Pure Debt Graded Bond Securities Investment Fund (hereinafter referred to as the Fund Contract), the Fund Contract shall be terminated when the fund asset size of China Sea Huifeng Pure Debt Graded Bond Securities Investment Fund (hereinafter referred to as the Fund) is less than 30 million yuan for 20 consecutive working days. As of the end of November 9, 2017, the net asset value of the Fund has been less than 30 million yuan for 20 consecutive working days, triggering the termination of the above fund contract, and the fund contract will automatically terminate. China Shipping Fund Management Co., Ltd. (hereinafter referred to as the Fund Manager) has performed the fund asset liquidation procedures in accordance with laws, regulations, fund contracts and other provisions since November 10, 2017. Relevant matters are hereby announced as follows:
1、 Basic Information of the Fund
Fund name: CNOOC Huifeng pure debt graded bond securities investment fund
Fund Abbreviation: China Huifeng Hierarchical Bonds
Fund code: Zhonghai Huifeng graded bonds: 163909; China Shipping Huifeng Graded Bond A (hereinafter referred to as Huifeng A): 163910; Zhonghai Huifeng Graded Bond B (hereinafter referred to as Huifeng B): 150154 (Huifeng B is listed on Shenzhen Stock Exchange)
Fund operation mode: contractual. After the fund contract comes into effect, every two years is an operation cycle, which is operated in a rolling manner
Effective date of fund contract: September 12, 2013
Fund Manager: China Shipping Fund Management Co., Ltd
Fund Custodian: China Guangfa Bank Co., Ltd
2、 Reasons for Termination of Fund Contract
According to the agreement on the cause of termination of the fund contract in Part 23 of the fund contract: when the fund asset size is less than 30 million yuan for 20 consecutive working days, the fund contract shall be terminated.
As of the end of November 9, 2017, the net asset value of the Fund has been less than 30 million yuan for 20 consecutive working days, triggering the termination of the above fund contract, and the fund contract will automatically terminate.
3、 Liquidation of fund assets
（1） Since November 10, 2017, the Fund has entered into the fund property liquidation procedure, and has stopped collecting fund management fees, fund custody fees and sales service fees. Sales businesses such as subscription, redemption and conversion are not allowed. Huifeng B was suspended from November 10, 2017 until its listing was terminated. The fund manager will apply for the delisting of Huifeng B and other matters in accordance with the provisions of Shenzhen Stock Exchange.
（2） A liquidation group shall be established within 30 working days from the date of the termination of the fund contract, and the fund manager shall organize a fund asset liquidation group and conduct fund liquidation under the supervision of the CSRC. The members of the Fund assets liquidation team shall be composed of the Fund Manager, the Fund Custodian, certified public accountants and lawyers qualified to engage in securities related businesses, and personnel designated by the CSRC. The Fund assets liquidation team may employ necessary staff.
（3） The Fund Assets Liquidation Team shall be responsible for the custody, liquidation, valuation, realization and distribution of the Fund assets. The fund assets liquidation team may carry out necessary civil activities according to law.
（4） Fund asset liquidation procedures:
1. In case of termination of the Fund contract, the Fund Assets Liquidation Team shall take over the Fund in a unified manner;
2. Liquidate and confirm the fund assets, claims and debts;
3. Valuation and realization of fund assets;
4. Prepare liquidation report;
5. Engage an accounting firm to conduct external audit on the liquidation report, and engage a law firm to issue a legal opinion on the liquidation report;
6. Submit the liquidation report to the CSRC for filing and announcement;
7. Distribute fund assets.
（5） The time limit for liquidation of fund assets is 6 months.
4、 Liquidation expenses
Liquidation expenses refer to all reasonable expenses incurred by the Fund Assets Liquidation Group in the process of fund liquidation. The liquidation expenses shall be paid by the Fund Assets Liquidation Group from the Fund assets in priority.
In order to protect the interests of fund share holders, the fund manager shall bear the audit fees and attorney fees during the liquidation of the fund, and the bank transfer fees shall be disbursed from the fund assets.
5、 Distribution of residual assets in the liquidation of fund assets
In accordance with the distribution plan for the liquidation of the Fund's assets, all the remaining assets after the liquidation of the Fund's assets, after deducting the liquidation expenses of the Fund's assets, paying the taxes owed and paying off the Fund's debts, will give priority to the distribution of the principal and accrued income of Huifeng A shares, and the remaining part (if any) will be distributed by the fund share holders of Huifeng B shares according to the proportion of the fund shares they hold.
6、 Announcement of Fund Assets Liquidation
Major issues related to the liquidation process must be announced in a timely manner; The fund assets liquidation report shall be audited by an accounting firm and issued with a legal opinion by a law firm, and then submitted to the CSRC for filing and announcement. The Fund assets liquidation group shall make an announcement on the Fund assets liquidation within 5 working days after the Fund assets liquidation report is submitted to the CSRC for filing.
7、 Preservation of fund assets liquidation books and documents
The fund assets liquidation account book and relevant documents shall be kept by the fund custodian for more than 15 years.
Special tips:
1. Investors are kindly requested to pay attention to the subsequent liquidation report and other relevant announcements. The Fund Manager promises to perform relevant duties in the process of liquidation in the principle of honesty, credit and diligence.
2. During the liquidation period, the fund liquidation cost, asset realization, etc. may cause fluctuations in the net value of the fund, and this risk shall be borne by the fund share holders. The Fund Unitholders shall be reminded.
Investors can learn or consult details through the following ways:
CNOOC Fund's official website: www.zhfund.com
Customer service hotline of China Overseas Fund: 400-888-9788 (toll free)
It is hereby announced.
China Shipping Fund Management Co., Ltd
November 10, 2017 |
