CFT(SH:603685) Zheng Quan Zhi Xing·2025-06-25 20:16Summary of Key Points Core Viewpoint - The company, Zhejiang Chenfeng Technology Co., Ltd., is providing a guarantee for its wholly-owned subsidiary, Ke'erqin Left Wing Banner Hengshuo New Energy Co., Ltd., to support its financing for a wind power project, which is part of the company's strategic expansion in the renewable energy sector [1][2]. Group 1: Guarantee Details - The total amount of the guarantee provided by the company is up to RMB 115 million [1]. - The guarantee includes a joint liability guarantee and a pledge of future electricity revenue from the project [2]. - The subsidiary has a high debt-to-asset ratio of over 70%, specifically 81.59% [4][7]. Group 2: Financial Overview of the Subsidiary - As of the latest audited financials, the subsidiary has total assets of approximately RMB 116.42 million and total liabilities of about RMB 94.99 million [4]. - The subsidiary reported an operating income of RMB 1.53 million and a net profit of RMB 1.43 million for the audited year [4]. Group 3: Decision-Making Process - The guarantee was approved through a series of meetings, including the board of directors and the annual shareholders' meeting [2][6]. - The company emphasizes that the guarantee is necessary for the subsidiary's operational funding and aligns with its strategic goals in the renewable energy sector [6]. Group 4: Current Guarantee Status - As of the announcement date, the company has a total of RMB 867.6 million in external guarantees, which represents 73.98% of its latest audited net assets [7]. - There are no overdue guarantees or violations reported, ensuring compliance with regulations [7].