QLPIPESINDUSTRY(SZ:002457) Shang Hai Zheng Quan Bao·2025-04-22 21:08Overview of Guarantee Situation - Qinglong Pipe Industry Group Co., Ltd. has signed a maximum guarantee contract for its subsidiary, Ningxia Qinglong Plastic Pipe Co., Ltd., with Huaxia Bank [2][3] - The company has obtained approval for a total bank credit limit of up to 3.2 billion RMB for operational and investment needs [2][3] - The company and its subsidiaries can mutually guarantee each other, with the cumulative guarantee balance not exceeding the approved credit limit [2] Details of the Guarantee - The company has authorized its general manager's office to make specific decisions regarding the credit limit and related agreements [3] - Ningxia Qinglong Plastic Pipe Co., Ltd. is a wholly-owned subsidiary with a registered capital of 100 million RMB [4][5] - The maximum debt amount guaranteed is 60 million RMB, covering principal, interest, penalties, and other related costs [6][7] Guarantee Contract Specifics - The guarantee is a joint liability guarantee, meaning the company is liable for the debts if the subsidiary defaults [7][9] - The guarantee period is set for three years, from March 27, 2025, to March 27, 2028 [9] Board of Directors' Opinion - The board believes that the guarantee will not adversely affect the company or its shareholders, as it maintains control over the subsidiary's operations [11] Cumulative Guarantee Amounts - After this guarantee, the total amount of external guarantees provided by the company and its subsidiaries is 723.47 million RMB, which is 31.82% of the company's audited net assets for 2023 [12] - The actual guarantee balance is 369.12 million RMB, accounting for 16.24% of the company's audited net assets for 2023 [12][13]