Guangdong Hongda (SZ:002683) Zheng Quan Zhi Xing·2025-06-23 10:23Summary of Key Points Core Viewpoint - Guangdong Hongda Holding Group Co., Ltd. has approved a guarantee limit for 2025, allowing for a total of up to 4.9 billion yuan in guarantees for its subsidiaries, with a significant portion directed towards subsidiaries with a debt-to-asset ratio exceeding 70% [1][2]. Group 1: Guarantee Overview - The company has approved a new guarantee limit of up to 4.9 billion yuan for 2025, with 4.65 billion yuan allocated for subsidiaries with a debt-to-asset ratio above 70% [1][2]. - The specific guarantee amount for its wholly-owned subsidiary, Hongda Engineering, is set at 2 billion yuan [1]. - The total guarantee amount provided to Hongda Engineering amounts to 545.67 million yuan, with 373 million yuan sourced from existing guarantees [2]. Group 2: Financial Data - As of March 31, 2025, the total assets of the company are reported at 55.22 billion yuan, with total liabilities at 40.19 billion yuan, resulting in a debt-to-asset ratio of 72.78% [6]. - The net assets stand at 15.03 billion yuan, with a reported revenue of 11.73 billion yuan for the first quarter of 2025 [6]. Group 3: Guarantee Contracts - The company has signed four guarantee contracts with various banks, including a maximum guarantee contract with Citic Bank and a guarantee contract with Industrial and Commercial Bank of China, among others [4][7]. - These contracts cover various financial obligations, including loans and other debt restructuring activities, with terms extending up to three years [7]. Group 4: Guarantee Status - The total approved guarantee amount for the company and its subsidiaries is 5.9 billion yuan, with no overdue guarantees or litigation-related guarantees reported [8].