Longquan Pipe Industry(SZ:002671) Zheng Quan Zhi Xing·2025-07-02 16:15Summary of Key Points Core Viewpoint - Shandong Longquan Pipe Industry Co., Ltd. has provided a maximum joint liability guarantee for its wholly-owned subsidiary, Jiangsu Longquan Pipeline Technology Co., Ltd., to secure a credit facility from Jiangsu Bank Changzhou Branch, with a maximum guarantee amount of RMB 55 million [1][5]. Group 1: Guarantee Overview - Jiangsu Longquan intends to apply for a comprehensive credit facility from Jiangsu Bank Changzhou Branch, and the company has issued a guarantee letter for this purpose [1]. - The maximum guaranteed debt amount is RMB 55 million, which includes principal, interest, and all related fees [5][6]. - The guarantee was approved in board meetings held on March 27, 2025, and April 18, 2025, and is within the approved guarantee limits for the year 2025 [1][2]. Group 2: Financial Status of Jiangsu Longquan - As of March 31, 2025, Jiangsu Longquan had total assets of RMB 411.29 million and a net asset of RMB 82.71 million, with an asset-liability ratio of 79.89% [4]. - For the first quarter of 2025, Jiangsu Longquan reported a revenue of RMB 48.77 million, with a net loss of RMB 1.80 million [4]. Group 3: Guarantee Details - The guarantee period is effective from the date of the guarantee letter until three years after the debt fulfillment period [6]. - The guarantee covers all debts arising from the credit facility, including principal, interest, and any associated costs [5][7]. - As of the announcement date, the company has a total external guarantee balance of RMB 270 million, which accounts for 16.21% of the latest audited net assets attributable to shareholders [8].