SHUNNA(SZ:000533) Zheng Quan Zhi Xing·2025-05-23 10:20Summary of Key Points Core Viewpoint - Guangdong ShunNa Electric Co., Ltd. has approved a guarantee plan for 2025, which includes providing a total guarantee amount exceeding 100% of the company's latest audited net assets, indicating a significant commitment to support its subsidiaries' operational funding needs [1][5]. Guarantee Overview - The company plans to provide joint liability guarantees for a total of up to 1.4 billion RMB in bank credit lines to its subsidiaries and between subsidiaries for the year 2025 [1][2]. - The company has signed a credit limit contract with Guangfa Bank, with a maximum credit limit of 200 million RMB and an exposure limit of 180 million RMB for its subsidiary ShunTe Equipment [1][2]. Guarantee Details - The company will provide a joint liability guarantee for ShunTe Equipment with a maximum secured debt amount of 180 million RMB, which has been approved by the 2024 annual general meeting [2][4]. - The asset-liability ratio of ShunTe Equipment is reported at 53.23%, with a total guarantee balance remaining unchanged at 531 million RMB before and after the guarantee [2][3]. Financial Status of the Guaranteed Entity - As of December 31, 2024, ShunTe Equipment reported total assets of 3,004.44 million RMB, total liabilities of 1,630.11 million RMB, and total equity of 1,374.33 million RMB, with a revenue of 2,422.76 million RMB and a net profit of 155.99 million RMB for the year [2][3]. - As of March 31, 2025, ShunTe Equipment's total assets were 3,030.93 million RMB, with total liabilities and net profit figures reported as 1,000.00 million RMB and 43.46 million RMB respectively [3]. Guarantee Agreement Terms - The guarantee covers the principal debt, interest, penalties, and all related costs, with a guarantee period extending three years from the debt maturity date [4][5]. - The board believes that the guarantee will lower financing costs and promote the sustainable development of its subsidiaries, thereby enhancing operational efficiency and profitability [5]. Cumulative Guarantee Amount - After this guarantee, the total guarantee amount provided by the company and its subsidiaries will account for 61.73% of the latest audited net assets, with no overdue debts or litigation guarantees reported [5].