SFX(SH:600370) Shang Hai Zheng Quan Bao·2025-05-21 18:57Core Viewpoint - The company has provided a guarantee of RMB 10 million to its controlling shareholder, Sanfangxiang Group, which brings the total guarantees provided to RMB 60 million, representing a significant portion of the company's net assets [2][3][11] Group 1: Guarantee Overview - The company has provided a joint liability guarantee for a RMB 60 million loan from China Construction Bank to Sanfangxiang Group, with an additional guarantee of RMB 10 million recently signed [4][11] - The total amount of guarantees provided by the company to its controlling shareholder and its subsidiaries amounts to RMB 846.31 million, which is 146.66% of the company's latest audited net assets [3][11] Group 2: Financial Data of the Guaranteed Party - As of December 31, 2024, Sanfangxiang Group reported total assets of RMB 1,640.15 million, total liabilities of RMB 1,058.97 million, and a net asset value of RMB 581.19 million, with a net profit of -RMB 11.20 million for the year [6] - For the first quarter of 2025, Sanfangxiang Group's total assets were RMB 1,627.31 million, total liabilities were RMB 1,051.43 million, and net assets were RMB 575.88 million, with a net profit of -RMB 5.31 million [6] Group 3: Internal Decision-Making Process - The company's board of directors approved the guarantee for Sanfangxiang Group after discussions in meetings held on April 1, 2025, and subsequently at a temporary shareholders' meeting on April 18, 2025 [4][5][11] - The guarantee provided does not increase the total guarantee amount previously approved and is supported by a counter-guarantee from Sanfangxiang Group [4][11] Group 4: Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary and reasonable as Sanfangxiang Group has a normal credit and operational status, having provided significant guarantees for the company and its subsidiaries in the past [4][11] - The company believes that the risks associated with this guarantee are controllable and will not adversely affect its normal operations or the interests of minority shareholders [4][11]