SHD(SH:600630) Zheng Quan Zhi Xing·2025-05-30 10:19Core Viewpoint - The company plans to provide a total guarantee amount of up to RMB 190 million for its wholly-owned subsidiaries in 2025, with specific limits based on their debt-to-asset ratios [1][6]. Summary by Sections Guarantee Overview - The company intends to offer guarantees to its wholly-owned subsidiaries, Shanghai Sanqiang (Group) Co., Ltd. and Shanghai Knitting No. 9 Factory Co., Ltd., with a total guarantee limit of RMB 190 million for 2025 [1][5]. - The guarantee amount for subsidiaries with a debt-to-asset ratio below 70% is capped at RMB 50 million, while those above 70% can receive up to RMB 140 million [1][6]. - The guarantee is valid for 12 months from the date of approval by the shareholders' meeting, and any previously approved but unused guarantees will become invalid [1][2]. Internal Decision-Making Process - The board of directors approved the guarantee proposal during meetings held on May 30, 2025, and it will be submitted for approval at the 2024 annual shareholders' meeting [3][6]. Subsidiary Information - Shanghai Sanqiang (Group) Co., Ltd. has total assets of RMB 876.01 million and a net profit of RMB 2.70 million for 2024, with a debt-to-asset ratio of 17.55% [3][5]. - Shanghai Knitting No. 9 Factory Co., Ltd. has total assets of RMB 908.27 million, a net profit of RMB 16.44 million for 2024, and a debt-to-asset ratio of 44.69% [5][6]. Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary to support the subsidiaries' operational needs and enhance financing efficiency, ensuring smooth business operations [5][6]. - The company maintains control over its subsidiaries, which mitigates the risk associated with the guarantees provided [6]. Cumulative Guarantee and Overdue Guarantees - The total guarantee amount represents 17.22% of the company's audited net assets for 2024, with no overdue guarantees reported [6].