上海光明肉业集团股份有限公司关于为控股子公司提供担保的进展公告

Core Viewpoint - The company has provided guarantees for its subsidiary, Shanghai Dingniu Feed Co., Ltd., totaling 50 million RMB, which will replace previous loan guarantees, and the total guarantee balance for Dingniu Feed is now 120 million RMB [2][4]. Summary by Sections Guarantee Overview - The company has signed a guarantee contract with Bank of Communications Co., Ltd. to provide a guarantee for Dingniu Feed's working capital loan, with a total expected guarantee amount of 150 million RMB for 2025, of which 50 million RMB is for this specific guarantee [3][5]. - After this guarantee, the cumulative guarantee balance for Dingniu Feed is 120 million RMB, leaving a usable guarantee amount of 30 million RMB [4]. Decision-Making Process - The guarantee is part of the expected guarantee scope for 2025, approved by the company's board meeting on March 27, 2025, and the annual shareholders' meeting on June 11, 2025, which agreed to a total guarantee limit of 330 million RMB for subsidiaries, including 150 million RMB for Dingniu Feed [5][6]. Basic Information of the Guaranteed Party - The guaranteed party, Shanghai Dingniu Feed Co., Ltd., has a registered capital of 100 million RMB and is wholly owned by the company [7]. - As of December 31, 2024, Dingniu Feed had total assets of 731.23 million RMB, net assets of 9.47 million RMB, total liabilities of 721.76 million RMB, and a debt-to-asset ratio of 98.71% [8]. Guarantee Contract Details - The guarantee includes three contracts with Bank of Communications, with amounts of 30 million RMB, 10 million RMB, and 10 million RMB, all under joint liability guarantees [9][10][11][12][13][14][15][16][17][18][19][20][21][22]. Necessity and Reasonableness of the Guarantee - The guarantees are necessary to meet the operational needs of the subsidiary and align with the company's overall development strategy, with financial risks considered manageable [23]. Total External Guarantees - As of the announcement date, the total external guarantees provided by the company and its subsidiaries amount to 330 million RMB, with an actual balance of 120 million RMB, representing 6.74% of the company's latest audited net assets [24].