NBSS(SH:600884) Shang Hai Zheng Quan Bao·2025-05-06 20:27Summary of Key Points Core Viewpoint - Ningbo Shanshan Co., Ltd. announced the provision of guarantees for its subsidiaries to support their financing needs, with a total guarantee amount of 36 million RMB, while the total guarantees provided by the company and its subsidiaries exceed 525.5 million RMB [2][5]. Group 1: Guarantee Details - The guarantee amount for Shanghai Shanshan New Materials Co., Ltd. is up to 13 million RMB, for Yunnan Shanshan New Materials Co., Ltd. is up to 18 million RMB, and for Fujian Shanshan Technology Co., Ltd. is up to 5 million RMB [5]. - The total external guarantees provided by the company and its subsidiaries as of March 31, 2025, amount to 1,864.79 million RMB, which is 86.41% of the latest audited net assets attributable to shareholders [12]. Group 2: Internal Decision-Making Process - The board of directors approved the guarantee provision at the annual shareholders' meeting held on May 16, 2024, authorizing the chairman to sign specific guarantee documents within the approved limits [6][11]. Group 3: Financial Condition of Guaranteed Entities - The asset-liability ratio of the guaranteed entity, Shanghai Shanshan New Materials Co., Ltd., exceeds 70%, indicating a high level of financial leverage [4]. - The registered capital of Shanghai Shanshan New Materials Co., Ltd. is 100 million RMB, while Yunnan Shanshan New Materials Co., Ltd. has a registered capital of 205 million RMB, and Fujian Shanshan Technology Co., Ltd. has a registered capital of 20 million RMB [7][8]. Group 4: Impact of Shareholder Restructuring - The controlling shareholder, Shanshan Group, is undergoing a substantial merger restructuring, with creditors required to declare their claims by April 30, 2025 [13][14]. - The restructuring may lead to adjustments in shareholder equity, potentially affecting the company's control [16].