Quzhou Xin'an Development(SH:600208) Zheng Quan Zhi Xing·2025-07-02 16:14Summary of Key Points Core Viewpoint The company has announced the provision of guarantees for its subsidiaries to support their operational needs, with specific amounts and terms outlined for each guarantee provided to different entities. Group 1: Guarantee Overview - The company has signed a guarantee agreement with Zhejiang Hecheng Rural Commercial Bank for a total amount of 37 million yuan for its wholly-owned subsidiary Zhejiang Yunsheng, with a term of 3 years [2]. - A guarantee of 230 million yuan has been provided for the controlling subsidiary Pingyang Weicheng, with a term of 1 year [2]. - A guarantee of 975 million yuan has been provided for the joint venture Shanghai Yalong, with a term of 26 months [2]. Group 2: Internal Decision-Making Process - The guarantees were approved by the company's 12th Board of Directors and the second extraordinary general meeting of shareholders in 2025, allowing for a total guarantee amount of up to 21 billion yuan for 31 controlling subsidiaries and 5 billion yuan for 3 joint ventures [2][5]. - All guarantees are within the authorized limits and do not require additional decision-making procedures [2]. Group 3: Financial Status of Guaranteed Entities - Zhejiang Yunsheng has total assets of 3.076 billion yuan and net assets of 1.483 billion yuan as of Q1 2025 [2]. - Pingyang Weicheng has total assets of 2.867 billion yuan and net assets of 282 million yuan as of Q1 2025 [3]. - Shanghai Yalong has total assets of 37.636 billion yuan and net assets of 256 million yuan as of Q1 2025 [3]. Group 4: Necessity and Reasonableness of Guarantees - The company has conducted a comprehensive analysis of the profitability and debt repayment capabilities of its subsidiaries before providing guarantees, indicating that the risks are manageable [5]. - The guarantees are intended to support project development and enhance overall operational capacity [5]. Group 5: Cumulative Guarantee Situation - As of the announcement date, the total approved external guarantees by the company and its subsidiaries amount to 28.972 billion yuan, with specific proportions relative to the company's latest audited net assets [6]. - The total guarantees for controlling subsidiaries amount to 21 billion yuan, representing 69.15% of the company's latest audited net assets [6].