CHONGQING FENGHWA GROUP(SH:600615) Shang Hai Zheng Quan Bao·2025-06-24 19:34Summary of Key Points Core Viewpoint - The company, Chongqing Fenghua (Group) Co., Ltd., has announced the provision of a guarantee for its subsidiary, Chongqing Magnesium Technology Co., Ltd., amounting to 30 million yuan to support its operational financing needs [2][9]. Group 1: Guarantee Details - The total guarantee amount provided to Magnesium Technology is 60 million yuan, with no remaining guarantee balance as of the announcement date [2][10]. - The company has signed a maximum guarantee contract with CITIC Bank for a credit limit of 30 million yuan, which includes a 10 million yuan adjustment for daily operational matters [3][4]. - The guarantee is a joint liability guarantee, covering various financing activities such as loans, bank acceptance bills, and performance guarantees [8]. Group 2: Internal Decision-Making Process - The board of directors approved the guarantee during a meeting on February 11, 2025, allowing for a total guarantee limit of 60 million yuan for Magnesium Technology [4][5]. - The guarantee is valid for 12 months from the date of the board's resolution, and the limit can be reused within this period [4]. Group 3: Financial Health of the Subsidiary - Magnesium Technology is a wholly-owned subsidiary, with the company holding 97.80% of its shares [7]. - The subsidiary has a registered capital of approximately 115.68 million yuan and maintains a healthy financial status with an asset-liability ratio below 70% [6][11]. - There are no overdue debts or significant risks affecting the subsidiary's repayment ability [9][11]. Group 4: Historical Context of Guarantees - The company previously provided a daily operational guarantee of up to 10 million yuan, which has now been adjusted following the new guarantee for bank credit [10]. - The cumulative guarantee amount of 60 million yuan represents 8.23% of the company's audited net assets for 2024 [10].