Three-V(SH:603033) Zheng Quan Zhi Xing·2025-06-30 16:12Summary of Key Points Core Viewpoint - The company has announced a guarantee for its wholly-owned subsidiary, Zhejiang Sanwei Materials Technology Co., Ltd., amounting to RMB 16.5 million, with an actual guarantee balance of RMB 13.5 million, which is within the previously estimated limit [1][2]. Group 1: Guarantee Overview - The company has provided a joint liability guarantee of up to RMB 8 million to Taijin Commercial Factoring (Tianjin) Co., Ltd. for its subsidiary [2]. - Additionally, a guarantee of up to RMB 8.5 million has been provided to Haitong Hengxin for the same subsidiary [2]. - The total guarantee limit for the year 2025 is set at RMB 400 million, approved by the board on April 27, 2025, and is valid until the next annual shareholders' meeting [2]. Group 2: Subsidiary Information - Zhejiang Sanwei Materials Technology Co., Ltd. was established on October 13, 2017, and is fully owned by the company [4]. - The subsidiary's total assets are approximately RMB 1.28 billion, with total liabilities of about RMB 1.03 billion, resulting in a net asset value of approximately RMB 255 million [4]. - The subsidiary reported a revenue of approximately RMB 1.69 billion, but incurred a net loss of approximately RMB 119 million [4]. Group 3: Guarantee Agreement Details - The maximum guarantee contract specifies that the company will provide a guarantee for the subsidiary's payment obligations to Taijin Factoring, with a maximum debt limit of RMB 8 million [5]. - A separate guarantee agreement with Haitong Hengxin covers a financing lease contract for equipment, with a guarantee amount of RMB 8.5 million [5]. - The guarantees are deemed necessary to support the subsidiary's operational and business development funding needs, aligning with the company's long-term growth strategy [6]. Group 4: Cumulative Guarantee Situation - As of the announcement date, the total guarantee balance for the company's wholly-owned or controlled subsidiaries is approximately RMB 3.53 billion, which exceeds the latest audited net assets by 113.31% [6]. - The company has also provided guarantees for joint ventures, including RMB 618.61 million for Sichuan Sanwei Rail Transit Technology Co., Ltd., and RMB 36 million for a joint venture with Taizhou Shanquan Construction Industrialization Co., Ltd. [6].