Core Viewpoint - The company, Yingluohua, announced that as of the disclosure date, its total external guarantees amount to 616.79 million yuan, which represents 22.95% of the company's most recent audited net assets [1] Group 1: External Guarantees - The total amount of external guarantees provided by the company is 616.79 million yuan [1] - The guarantees are exclusively for subsidiaries and their subordinate companies [1] - There are no overdue guarantees, litigation-related guarantees, or losses due to judgments against the company related to these guarantees [1] Group 2: Related Parties - The company has not provided any guarantees for shareholders, actual controllers, or their related parties [1]

Group 1 - The company Innohua (SZ 000795) reported a total external guarantee amount of approximately 617 million yuan, which accounts for 22.95% of the company's latest audited net assets [1] - For the first half of 2025, Innohua's revenue composition is as follows: Neodymium Iron Boron accounts for 50.86%, motors account for 25.1%, electric wheelchairs and mobility scooters account for 12.88%, audio speakers account for 7.69%, and other industries account for 3.47% [1] - The current market capitalization of Innohua is 11 billion yuan [2]

证券代码：000795 证券简称：英洛华 公告编号：2025-062 英洛华科技股份有限公司 关于为下属公司提供担保的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、担保情况概述 （一）担保的基本情况 2025 年 12 月 15 日，英洛华科技股份有限公司（以下简称"公司"）与中 国建设银行股份有限公司东阳支行（以下简称"建设银行"）签订《最高额保证 合同》，为全资子公司赣州市东磁稀土有限公司（以下简称"赣州东磁"）下属 子公司浙江东阳东磁稀土有限公司（以下简称"东阳东磁"）办理授信业务提供 连带责任保证，担保最高债权额为人民币 5,000 万元。 2025 年 12 月 16 日，公司与中国银行股份有限公司东阳支行（以下简称"中 国银行"）签订《保证合同》，为全资子公司浙江英洛华磁业有限公司（以下简 称"英洛华磁业"）办理电子商业汇票业务提供连带责任保证，担保金额为人民 币 23,791,489.32 元。 （二）本次担保事项履行的内部决策程序 公司于 2025 年 3 月 6 日召开第十届董事会第六次会议、第十届监事会第四 次会议，审议通过了《 ...

Investment Rating - The industry rating is "Recommended" [3] Core Views - Short-term lithium prices are expected to remain volatile, with a positive outlook on antimony, cobalt, tungsten, and tin due to a reassessment of strategic metal values [1][2][7] - Supply concerns in the nickel market are supported by the lack of new approvals from Indonesia's RKAB, which may lead to price stabilization [1][28] - The cobalt market is expected to see continued price increases due to structural supply tightness, with Congo's export regulations impacting availability [2][5][16] - Antimony prices are anticipated to converge towards higher overseas prices due to export controls and tight domestic supply [6][17] - The lithium market is experiencing a strong demand backdrop, with expectations of continued inventory depletion supporting prices [7][17] - The rare earth market is tightening due to Vietnam's export ban, which is expected to support prices [9][18] - Tin prices are supported by ongoing supply concerns from overseas sources, particularly from Myanmar and Congo [11][20] - Tungsten prices are expected to remain supported due to supply constraints and regulatory controls [12][21] - The uranium market is facing supply tightness, which is likely to support prices amid geopolitical uncertainties [14][22] Summary by Sections Nickel and Cobalt Industry Update - Nickel prices are under pressure due to stable demand but cautious purchasing from smelters, with LME nickel closing at $14,420 per ton, down 2.04% [1][28] - Cobalt prices are expected to rise further, with Congo's export regulations causing supply constraints [2][5][16] Antimony Industry Update - Domestic antimony prices are lower compared to international prices, but supply tightness is expected to support future price increases [6][17] Lithium Industry Update - Lithium carbonate prices have increased, with a strong demand outlook from the electric vehicle sector [7][17] Rare Earth Industry Update - Vietnam's recent export ban on rare earths is expected to tighten global supply and support prices [9][18] Tin Industry Update - Tin prices are supported by supply concerns from Myanmar and Congo, with LME tin prices rising to $41,905 per ton [11][20] Tungsten Industry Update - Tungsten prices are expected to remain high due to supply constraints and regulatory measures [12][21] Uranium Industry Update - The uranium market is facing supply tightness, with prices supported by geopolitical factors and production delays [14][22]

Core Points - The company, Yingluohua, announced on December 12 that it signed a "Maximum Guarantee Contract" with the Dongyang Branch of Bank of China to provide a joint liability guarantee for its wholly-owned subsidiary, Zhejiang Lianyi Electric Motor Co., Ltd. [2] - The maximum amount of the guarantee is set at 50 million RMB [2]

Group 1 - The company Yingluohua (SZ 000795) announced on December 12 that it signed a maximum guarantee contract with Bank of China Dongyang Branch to provide joint liability guarantee for its wholly-owned subsidiary Linyi Electric Motor, with a maximum debt guarantee amount of RMB 50 million [1] - As of the report date, Yingluohua's market capitalization is RMB 11.3 billion [1] - For the first half of 2025, Yingluohua's revenue composition is as follows: Neodymium Iron Boron accounts for 50.86%, electric motors 25.1%, electric wheelchairs and mobility scooters 12.88%, audio speakers 7.69%, and other industries 3.47% [1]

关于为全资子公司提供担保的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 证券代码：000795 证券简称：英洛华 公告编号：2025-061 英洛华科技股份有限公司 一、担保情况概述 （一）担保的基本情况 2025 年 12 月 11 日，英洛华科技股份有限公司（以下简称"公司"）与中 国银行股份有限公司东阳支行（以下简称"中国银行"）签订《最高额保证合同》， 为全资子公司浙江联宜电机有限公司（以下简称"联宜电机"）办理授信业务提 供连带责任保证，担保最高债权额为人民币 5,000 万元。 （二）本次担保事项履行的内部决策程序 公司于 2025 年 3 月 6 日召开第十届董事会第六次会议、第十届监事会第四 次会议，审议通过了《公司关于 2025 年度对下属公司提供担保额度预计的议案》。 公司于 2025 年 4 月 10 日召开 2024 年度股东大会审议通过该议案，为满足下属 公司经营发展需要，支持其业务顺利开展，同意公司 2025 年度为下属公司提供 担保，其中为联宜电机提供担保额度不超过人民币 29,000 万元。上述形式提供 的担保额度总计不 ...

Core Viewpoint - The company announced a guarantee agreement with Bank of China Dongyang Branch to provide a credit facility for its wholly-owned subsidiary, Linyi Electric, amounting to 50 million yuan, with a guarantee period of three years after the debt maturity [1] Group 1 - The company signed a maximum guarantee contract on December 11, 2025, for a credit facility for Linyi Electric [1] - The total guarantee amount for Linyi Electric in 2025 is capped at 290 million yuan, with a cumulative limit of 1.5 billion yuan [1] - As of the announcement date, the company has provided external guarantees totaling 553 million yuan, which accounts for 20.57% of the most recent audited net assets, with no overdue or adverse guarantee situations reported [1]

Industry Overview - The domestic market prices for gadolinium and europium remain stable, with gadolinium oxide priced at 185,000 yuan/ton, europium oxide at 180,000 yuan/ton, gadolinium iron alloy at 180,000 yuan/ton, and yttrium oxide at 49,000 yuan/ton [1] - The light rare earth market is experiencing price increases, but downstream demand is still in a stage of on-demand procurement, indicating that prices are likely to fluctuate in the short term [1] Global Market Dynamics - Global production of rare earth permanent magnets is still highly concentrated in China, and the release of overseas production capacity will take time. China remains the only country with a complete rare earth industrial chain [1] - The overall scale of the rare earth industry chain in the West is significantly lower than that of China, with notable shortcomings in their industrial chains [1] Supply and Demand Outlook - As of December, smelting plants may face mass shutdowns due to policy and raw material issues. In October, China's magnetic material exports increased by 16% year-on-year but decreased by 5% month-on-month [1] - Expectations for more relaxed export conditions in the future lead to a more optimistic outlook on demand. The combination of external export competition and ongoing supply-side reforms suggests a potential resonance in rare earth supply and demand, with expectations for continued valuation and performance growth in the rare earth sector [1] Company Insights - Jinli Permanent Magnet is identified as a leading supplier of high-performance rare earth permanent magnet materials [1] - Inlohua primarily engages in the production and sales of neodymium-iron-boron magnetic materials, micro-special motors, health equipment, and electronic acoustic products. Currently, the company's motors and reducers have limited applications in industrial robots [1]

Core Points - The company announced that the first phase of its employee stock ownership plan will expire on June 4, 2026 [2]