CSF(SH:600654) Shang Hai Zheng Quan Bao·2025-07-04 19:12Core Viewpoint - The company has provided a guarantee of up to 150 million RMB for its wholly-owned subsidiary, Jiangsu Zhongke Intelligent System Co., Ltd, to support its operational needs [2][5][20]. Summary by Sections Guarantee Overview - The company signed a maximum guarantee and mortgage contract with Bank of China Suzhou Gusu Branch, providing a guarantee for a credit limit of 150 million RMB for its subsidiary [5]. - The total amount of guarantees provided to the subsidiary, including this new guarantee, is 193 million RMB [2]. Internal Decision-Making Process - The guarantee was approved by the company's board of directors and the annual general meeting, which authorized a total guarantee limit of 2.89 billion RMB and 2.16 billion HKD for the year 2025 [6][21]. Subsidiary Information - Jiangsu Zhongke Intelligent System Co., Ltd has a registered capital of 100.88 million RMB and operates in various sectors including intelligent transportation and security systems [7][8]. - As of December 31, 2024, the subsidiary reported total assets of 576.95 million RMB and a net profit of 19.11 million RMB [8][9]. Guarantee Agreement Details - The guarantee is structured as a joint liability guarantee, with a maximum principal amount of 150 million RMB [10][11][13]. - The guarantee period for each debt is three years from the due date of the respective debt [14]. Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary for the subsidiary's business development and aligns with the company's overall interests and strategic goals [20]. - The subsidiary's stable operating and credit status indicates that the guarantee risk is manageable and will not significantly impact the company's daily operations [20]. Board of Directors' Opinion - The board unanimously approved the guarantee as part of the 2025 annual guarantee plan, confirming that it falls within the authorized limits [21]. - The total external guarantees provided by the company amount to 449.09 million RMB, representing 27.09% of the company's audited net assets as of the end of 2024 [21].