Novoray(SH:688300) Zheng Quan Zhi Xing·2025-03-25 11:24Core Viewpoint - Jiangsu Lianrui New Materials Co., Ltd. plans to apply for a comprehensive credit limit of up to 760 million RMB from banks and provide guarantees for its wholly-owned subsidiary, Lianrui New Materials (Lianyungang) Co., Ltd. for up to 130 million RMB [1][2][6] Summary by Sections Credit and Guarantee Overview - The company intends to apply for a total credit limit not exceeding 760 million RMB for the year 2025, which includes various types of credit facilities such as loans, guarantees, and trade financing [1][2] - The total amount of guarantees provided by the company for its subsidiary is capped at 130 million RMB, with the current guarantee balance being 14,716,059.46 RMB [1][2][7] - The guarantee does not require counter-guarantees and does not need to be approved by the shareholders' meeting [1][2] Internal Decision-Making Process - The board of directors and the supervisory board approved the proposal for the credit application and guarantee during meetings held on March 24, 2025 [2][3] - The decision is valid until the next board or shareholders' meeting, allowing for the revolving use of the credit and guarantee limits within the authorized scope [2][6] Subsidiary Information - The guaranteed entity, Lianrui New Materials (Lianyungang) Co., Ltd., is a wholly-owned subsidiary of the company, established on July 22, 2020, with a registered capital of 350 million RMB [3][4] - The subsidiary's business scope includes manufacturing electronic materials, non-metallic mineral products, and various specialized materials [4] Financial Data of the Subsidiary - As of the latest audited financials, the subsidiary reported total assets of approximately 558.98 million RMB and total liabilities of about 107.32 million RMB, resulting in a net asset value of approximately 451.66 million RMB [5] - The subsidiary's revenue for the period was approximately 330.47 million RMB, with a net profit of about 57.02 million RMB [5] Reasons and Necessity for Guarantee - The guarantee is aimed at meeting the financing needs of the subsidiary, which has a strong operational and credit standing, indicating manageable risk [6][7] - The board and supervisory board believe that the guarantee aligns with the company's overall development strategy and will not harm the interests of the company or its shareholders [6][7] Cumulative External Guarantee Amount - As of the announcement date, the total external guarantee balance provided by the company and its subsidiaries is 14,716,059.46 RMB, representing 0.98% of the latest audited net assets and 0.75% of total assets [7]