TongQingLou Catering (SH:605108) Zheng Quan Zhi Xing·2025-07-11 16:26Summary of Key Points Core Viewpoint - The company has provided a guarantee of RMB 130 million for its wholly-owned subsidiary, Feixi Fumao Hotel Management Co., Ltd, to support its business development and project financing needs, which aligns with the company's overall interests and development strategy [1][4]. Group 1: Guarantee Details - The guarantee amount provided by the company is RMB 130 million, with an actual balance of RMB 30 million already provided [1]. - The guarantee is for a period of three years, from January 21, 2025, to January 21, 2026, and is linked to a loan from Huaxia Bank [1]. - There are no counter-guarantees associated with this guarantee, and there are no overdue guarantees reported [1]. Group 2: Internal Decision-Making Process - The guarantee was approved during the fourth board meeting on April 27, 2025, and the annual shareholders' meeting on May 23, 2025, as part of the company's planned guarantee limits for 2025 [2]. - The guarantee falls within the approved limits and does not require additional review [2]. Group 3: Subsidiary Information - Feixi Fumao Hotel Management Co., Ltd was established on July 10, 2023, and is fully owned by the company [2]. - The subsidiary's total assets are approximately RMB 217.44 million, with total liabilities of RMB 197.04 million, resulting in a debt-to-asset ratio of 90.62% [3]. - The subsidiary's revenue for the most recent year was approximately RMB 64.49 million, with a net profit of approximately RMB 1.90 million [3]. Group 4: Guarantee Necessity and Reasonableness - The guarantee is deemed necessary to meet the funding requirements for the subsidiary's business development and project construction, and it is expected to have no adverse impact on the company's ongoing operations [4]. - The overall risk associated with the guarantee is considered manageable, and it does not harm the interests of the company or its shareholders [4]. Group 5: Overall Guarantee Status - As of the announcement date, the total external guarantees provided by the company and its subsidiaries amount to RMB 970 million, which is 43.41% of the company's net assets as of December 31, 2024 [4]. - The total guarantees provided to wholly-owned subsidiaries amount to RMB 830 million, representing 6.26% of the company's net assets [4].