TONGLI RISHENG(SH:605286) Zheng Quan Zhi Xing·2025-07-10 16:22Core Viewpoint - Jiangsu Tongli Rising Machinery Co., Ltd. has announced a guarantee for its wholly-owned subsidiary, Qihong Weichang Manchu Mongolian Autonomous County New Energy Technology Co., Ltd., to support its financing needs for a shared energy storage project [1][2][6]. Summary by Sections Guarantee Overview - The company is providing a guarantee amounting to 226 million yuan for Qihong Weichang's loan application to Hebei Bank, which totals 600 million yuan with a term of 10 years [2][3]. - The loan will be used for the construction of the energy storage project and to replace other financial institution loans and shareholder loans [2]. Internal Decision Process - The company's board of directors held meetings on June 9 and June 26, 2025, to approve the guarantee and authorized the chairman to sign relevant agreements [3][4]. Financial Status of the Guaranteed Entity - Qihong Weichang has total assets of approximately 1.09 billion yuan and total liabilities of about 902.41 million yuan as of the first four months of 2025 [4]. - The company reported a net profit of -2.69 million yuan for the same period, indicating a loss [4]. Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary for the operational needs of Qihong Weichang and is expected to facilitate its business development without harming the interests of the company or its shareholders [5][6]. - The board believes that the risks associated with this guarantee are manageable and do not adversely affect the company's financial status or operational results [6]. Cumulative Guarantee Situation - As of the announcement date, the total external guarantees provided by the company amount to 664.1 million yuan, which represents 33.62% of the company's latest audited net assets [6].