Chinese Media(SH:600373) Zheng Quan Zhi Xing·2025-06-24 18:41Core Viewpoint - The company, Zhongwen Tiandi Publishing Media Group Co., Ltd., is providing a guarantee for its wholly-owned subsidiary, Jiangxi Blue Ocean International Trade Co., Ltd., to support its business expansion and operational needs [2][3]. Summary by Sections Guarantee Overview - The total guarantee amount provided by the company for Blue Ocean International Trade is 543 million RMB, with an actual external guarantee balance of 282 million RMB [2]. - The company plans to apply for a total bank credit limit of up to 10.12 billion RMB for 2025, which includes a guarantee of up to 3.442 billion RMB for its subsidiaries [3]. Guarantee Details - The company signed a "Maximum Guarantee Contract" with China Agricultural Bank, with a guarantee amount of 117.6 million RMB [5]. - The guarantee is structured as a joint liability guarantee, covering various financial obligations including principal, interest, penalties, and legal fees [6]. Financial Status of the Subsidiary - As of December 31, 2024, Blue Ocean International Trade had total assets of 654 million RMB and total liabilities of 793 million RMB, resulting in a net asset value of -140 million RMB [6]. - The subsidiary reported a revenue of 589 million RMB and a net profit of 16 million RMB for the year 2024 [6]. Board and Shareholder Approval - The board of directors approved the guarantee proposal on November 22, 2024, and it was subsequently ratified by the shareholders on December 10, 2024 [8]. - The board believes that the guarantee is necessary for the sustainable development of the subsidiary's operations and does not pose a risk to the company's ongoing viability [8]. Cumulative Guarantee Information - As of the announcement date, the total cumulative guarantee amount provided by the company for its subsidiaries is 1.454 billion RMB, which is 8.13% of the company's audited net assets as of December 31, 2024 [8].