Jereh Group(SZ:002353) Shang Hai Zheng Quan Bao·2025-06-27 21:32Overview - The company, Yantai Jereh Petroleum Service Group Co., Ltd., has provided a guarantee for its wholly-owned subsidiary, Jereh Oil & Gas Engineering Co., Ltd., to apply for a working capital loan of up to $62 million [2][4]. Guarantee Details - The guarantee is a joint liability guarantee for a loan principal amount not exceeding $62 million, equivalent to approximately 444.34 million RMB based on the exchange rate of 1:7.1668 as of June 25, 2025 [2][4]. - The guarantee contract was signed with the Ningxia branch of the National Development Bank [2][4]. - The guarantee covers all loan principal, interest, penalties, and any other fees related to the loan [4]. Subsidiary Information - Jereh Oil & Gas Engineering Co., Ltd. was established on September 10, 2009, with a registered capital of 1 billion RMB [3][4]. - The subsidiary's main business includes technology services, equipment manufacturing, and energy management services [3]. Financial Situation - After this guarantee, the total amount of external guarantees provided by the company and its subsidiaries will be approximately 792.08 million RMB, with an expected total balance of 358.68 million RMB, which represents 16.95% of the company's latest audited net assets [4]. - The company has no overdue guarantees or any legal disputes related to guarantees [4]. Other Information - The company's board of directors will regularly review the execution of these matters and fulfill its information disclosure obligations [5].