LANCY(SZ:002612) Shang Hai Zheng Quan Bao·2025-04-22 20:55Summary of Key Points Core Viewpoint - The announcement details the approval of a guarantee limit for 2024 by the board of directors and the annual general meeting, allowing the company and its subsidiaries to provide external guarantees totaling up to 4.25 billion RMB, with specific allocations based on the subsidiaries' debt ratios [2][12]. Group 1: Guarantee Details - The total external guarantee limit for 2024 is set at 4.25 billion RMB, with 3.5 billion RMB allocated for subsidiaries with a debt ratio not exceeding 70% and 750 million RMB for those exceeding 70% [2]. - As of the announcement date, the total external guarantee balance is 1.1524 billion RMB, representing 41.34% of the company's audited net assets for 2024 [2][13]. - The company has not experienced any overdue guarantees, litigation related to guarantees, or losses due to guarantee judgments [4][14]. Group 2: Guarantee Agreements - The company has applied for a comprehensive credit limit of 100 million RMB from Dalian Bank, with its wholly-owned subsidiary providing joint liability guarantees [6]. - The controlling shareholder and actual controller, Mr. Shen Dongri, and his spouse, Ms. Weng Jie, provide unconditional joint liability guarantees without charging any fees or requiring counter-guarantees from the company [6][12]. - The maximum guarantee amount under the agreement is set at 120 million RMB, covering all debts under the main contract, including principal, interest, and related costs [9][10]. Group 3: Financial and Operational Context - The company’s registered capital is approximately 442.45 million RMB, and it operates in various sectors, including clothing retail, manufacturing, and consulting services [7][8]. - The total amount of various related transactions with the controlling shareholder and related parties from January 1 to March 31, 2025, is reported to be 2.2417 million RMB [12].