TIANSHAN ALUMINUM(002532) 证券时报网·2024-11-10 18:43Summary of Key Points Core Viewpoint - The company has provided guarantees for its wholly-owned subsidiaries, which are crucial for their financing and operational activities, while ensuring compliance with regulatory requirements and maintaining financial control [1][8]. Guarantee Overview - The company has provided a maximum guarantee of 500 million RMB (approximately 71 million USD) to Shanghai Pudong Development Bank for its subsidiary Jingxi Tiangui Aluminum Co., Ltd. [1] - The company’s wholly-owned subsidiary MIGHTY SKY INTERNATIONAL PTE. LTD. has entered into a risk exploration agreement with LATIP NG for the acquisition of PT Inti Tambang Makmur, with a guarantee amount not exceeding 13.5 million USD [2][7]. Guarantee Review - The company’s board of directors and shareholders approved a guarantee limit of up to 29.9 billion RMB for the next 12 months, covering various financing and operational needs [3]. - The company can provide guarantees for subsidiaries with an asset-liability ratio exceeding 70%, while those below this threshold can adjust their guarantee limits among themselves [3]. Guarantee Usage - Prior to this guarantee, MIGHTY SKY had no available guarantee limits, prompting the company to transfer 1 billion RMB of unused guarantee limits from another subsidiary [4]. - The guarantee adjustment complies with the board's and shareholders' meeting regulations [4]. Basic Information of Guaranteed Parties - Jingxi Tiangui Aluminum Co., Ltd. has a registered capital of 1.8 billion RMB and is involved in various mining and construction activities [5]. - MIGHTY SKY INTERNATIONAL PTE. LTD. was established with a registered capital of 1 USD and focuses on international trade and investment [6]. Guarantee Agreements - The guarantee agreement with Shanghai Pudong Development Bank includes a joint liability guarantee and a guarantee period extending three years after the debt repayment period [7]. - The company has committed to ensuring MIGHTY SKY fulfills its payment obligations under the risk exploration agreement, with a total liability not exceeding 13.5 million USD [7]. Board Opinions - The board believes that the guarantees will facilitate financing for Jingxi Tiangui and operational activities for MIGHTY SKY, while maintaining effective financial risk control [8]. - The company has no overdue guarantees or litigation-related guarantees, ensuring compliance with regulatory requirements [9]. Cumulative Guarantee Status - As of the announcement date, the company and its subsidiaries have a total guarantee balance of 24.47 billion RMB, which is 101.5% of the company's latest audited net assets [8].