Tongyu Heavy(SZ:300185) Zheng Quan Zhi Xing·2025-04-03 11:35Financing and Guarantee Authorization Overview - The company and its subsidiaries plan to apply for a financing limit of up to 7 billion RMB from financial institutions to meet operational funding needs [1][2] - The financing will be used in a revolving manner, excluding short-term financing bonds, medium-term notes, and corporate bonds [1] - The chairman or financial director of the company is authorized to decide on specific financing matters within the limit of 7 billion RMB, with individual financing not exceeding 5 billion RMB [1] Guarantee Authorization for Subsidiaries - The company intends to provide guarantees for its subsidiaries' financing, with a total guarantee limit of 3.3 billion RMB, also on a revolving basis [2][10] - The total guarantee amount must not exceed the limit approved by the shareholders' meeting, and the chairman or financial director is authorized to sign relevant legal documents [2] Financial Status of Subsidiaries - Financial data for subsidiaries as of September 30, 2024, shows varying levels of assets, liabilities, and net assets, with specific companies like Yucheng Baotai Machinery Manufacturing Co., Ltd. having total assets of 2.15 billion RMB and a debt ratio of 69.71% [4][5] - Other subsidiaries, such as Shandong Yucheng Xinyuan Thermal Power Co., Ltd., reported total assets of 1.30 billion RMB and a debt ratio of 69.05% [4][5] Board of Directors' Opinion - The board believes that providing guarantees for subsidiaries will enhance their financing capabilities and promote business growth, aligning with the company's long-term interests [10] - The risks associated with the guarantees are considered manageable within the company's control [10] Current Guarantee Status - As of now, the total guarantee amount provided by the company is 2.742 billion RMB, with a total balance of 1.183 billion RMB for guarantees to subsidiaries, representing 16.93% of the company's audited net assets [10]