SXXC(SZ:002585) Zheng Quan Zhi Xing·2025-05-18 08:15Core Viewpoint - The article outlines the external guarantee management system of Jiangsu Shuangxing Plastic New Materials Co., Ltd, aiming to regulate external guarantee behaviors, control risks, and protect the financial safety of the company and its shareholders [2][3]. Summary by Sections General Principles - The purpose of the system is to strengthen internal controls, improve pre-evaluation, monitoring, and post-recovery mechanisms for guarantees, and mitigate potential debt repayment risks due to the deteriorating financial conditions of guaranteed parties [2][3]. - The company generally does not provide guarantees for third parties outside of its controlling subsidiaries unless approved by authorized company institutions [2][3]. Basic Principles of External Guarantees - External guarantees must be approved by the board of directors or shareholders' meeting, and no individual, including directors and senior management, can sign guarantee contracts without such approval [3][4]. - The company requires collateral or guarantees from the guaranteed party to mitigate risks [3][4]. Procedures for External Guarantees - The finance department is responsible for daily management of external guarantees and must conduct thorough credit evaluations of the guaranteed parties [4][5]. - The finance department analyzes the operational and credit status of the guaranteed party and submits recommendations to the general manager, who then reports to the board of directors [4][5]. Risk Control Measures - The company must adhere to risk control principles during the guarantee process and manage guarantee contracts effectively [7][8]. - The company is required to monitor the financial status of guaranteed parties continuously and take necessary actions if any adverse conditions arise [8][9]. - If a guaranteed party fails to meet repayment obligations, the company must execute recovery measures within ten working days [8][9]. Approval and Disclosure Requirements - Certain external guarantee actions require shareholder meeting approval if they exceed specified thresholds related to the company's net assets or total assets [5][6]. - The board of directors must establish a regular review system for guarantee behaviors and disclose any violations promptly [9]. Final Provisions - The system becomes effective upon approval by the shareholders' meeting and is subject to interpretation by the board of directors [9].