NPEC(SH:600775) Shang Hai Zheng Quan Bao·2025-04-16 05:59Core Viewpoint - The company, Nanjing Panda Electronics Co., Ltd., has announced a guarantee for financing up to RMB 30 million for its subsidiary, Nanjing Huage Electric Plastic Industry Co., Ltd., to support its operational needs from the end of the 2024 annual shareholders' meeting until the 2025 annual shareholders' meeting [1][2][3]. Summary by Sections Guarantee Overview - The company will provide a guarantee for Nanjing Huage Electric Plastic Industry Co., Ltd. for a total amount not exceeding RMB 30 million, effective from the end of the 2024 annual shareholders' meeting until the 2025 annual shareholders' meeting [2][3]. - As of the announcement date, the company has already provided a guarantee balance of RMB 7.79 million, with RMB 7.55 million specifically for Nanjing Huage Electric Plastic Industry Co., Ltd., all within the approved total limit [2][12]. Decision-Making Process - The board of directors approved the guarantee at a temporary meeting on April 15, 2025, with unanimous support (9 votes in favor, 0 against, 0 abstentions) [4]. - The board will seek authorization from the shareholders' meeting for the general manager to handle the specific matters related to the guarantee during the specified period [4][10]. Necessity and Reasonableness of the Guarantee - The business of the guaranteed entity is a crucial part of the company's main operations, and providing this guarantee is expected to facilitate the development of the subsidiary, aligning with the overall growth strategy of the company [9]. - The decision to provide the guarantee was based on a comprehensive analysis of the subsidiary's profitability, debt repayment capacity, and risk assessment, ensuring it aligns with the company's interests and complies with legal regulations [9]. Financial Status - The total external guarantees provided by the company amount to RMB 95 million, representing 3.05% of the audited equity attributable to the parent company for the fiscal year 2024, with the current guarantee balance for Nanjing Huage Electric Plastic Industry Co., Ltd. being 0.25% of the same equity [12].