Summary of Key Points Core Viewpoint - The company, Fujian Torch Electronic Technology Co., Ltd., has provided a guarantee of up to RMB 30 million for its wholly-owned subsidiary, Shenzhen Leidu Electronics Co., Ltd., to support its business operations [1][2]. Group 1: Guarantee Details - The maximum principal limit of the guarantee is RMB 30 million, which includes the principal, interest, and other related fees [1][3]. - The company has not provided any actual guarantee balance prior to this announcement [1]. - There are no counter-guarantees associated with this guarantee [1]. Group 2: Internal Decision-Making Process - The company held board meetings on March 20, 2025, and April 11, 2025, to approve the guarantee proposal, which is within the authorized limit of up to RMB 2.251 billion for the year 2025 [2]. - The guarantee is part of a broader plan to provide a total of RMB 0.15 billion in guarantees for subsidiary transactions with suppliers [2]. Group 3: Financial Status of the Guaranteed Entity - Shenzhen Leidu's total assets are reported at RMB 355.83 million (unaudited) and RMB 318.49 million (audited) [2]. - The total liabilities are RMB 235.63 million (unaudited) and RMB 198.83 million (audited), resulting in a net asset value of RMB 120.20 million (unaudited) and RMB 119.65 million (audited) [2]. - The company's revenue is RMB 100.07 million (unaudited) and RMB 291.07 million (audited), with net profits of RMB 0.55 million (unaudited) and RMB 4.82 million (audited) [2]. Group 4: Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary to meet the operational needs of the subsidiary and aligns with the company's overall interests and development strategy [3]. - The subsidiary, Shenzhen Leidu, is in good financial standing and has the ability to repay, allowing the company to effectively manage operational risks [3]. Group 5: Cumulative External Guarantee Situation - As of the announcement date, the total external guarantees provided by the company and its subsidiaries amount to RMB 1.562 billion, which represents 28.48% of the audited net assets as of December 31, 2024 [3]. - There are no overdue guarantees, and the guarantees provided to the listed company by its subsidiaries total RMB 960 million, accounting for 17.50% of the audited net assets [3].
火炬电子: 火炬电子关于提供担保事宜的进展公告(五)