Zhejiang Wansheng (SH:603010) Zheng Quan Zhi Xing·2025-06-27 16:23Core Viewpoint - The company Zhejiang Wansheng Co., Ltd. has announced the provision of guarantees for its subsidiaries Guangzhou Shangen Innovation Materials Co., Ltd. and Zhuhai Shangen Innovation Materials Co., Ltd. to support their operational and business development needs [1][10]. Summary by Sections Guarantee Overview - The company has approved a total guarantee amount not exceeding RMB 2 billion for its subsidiaries for the year 2025, which includes previously incurred guarantees [1][3]. - The company has provided a guarantee of RMB 60 million for Guangzhou Shangen and RMB 200 million for Zhuhai Shangen, with the current outstanding guarantee for Zhuhai Shangen being RMB 125.805 million [1][2]. Guarantee Details - The company signed a maximum guarantee contract with Bank of China for RMB 30 million for Guangzhou Shangen, with a counter-guarantee from the shareholder [2][9]. - A similar guarantee of RMB 200 million was provided for Zhuhai Shangen, also with a counter-guarantee from the shareholder [2][9]. Financial Status of Guaranteed Entities - Guangzhou Shangen has total assets of RMB 450.9881 million and total liabilities of RMB 113.942 million, with a net asset value of RMB 337.0461 million [5]. - Zhuhai Shangen has total assets of RMB 405.0346 million and total liabilities of RMB 184.9473 million, with a net asset value of RMB 220.0874 million [7]. Necessity and Reasonableness of Guarantees - The guarantees are deemed necessary to ensure the smooth operation of the subsidiaries, which are under the company's control, allowing for effective risk management [9][10]. - The board believes that the guarantees will facilitate efficient fundraising for the subsidiaries without harming the interests of the company or its shareholders [10]. Cumulative Guarantee Information - As of June 27, 2025, the total amount of external guarantees signed by the company is RMB 1.71685 billion, accounting for 47.19% of the company's latest audited net assets [10]. - The outstanding guarantee balance is RMB 638.4573 million, representing 17.55% of the company's latest audited net assets [10].