JINKE PROPERTY(SZ:000656) Shang Hai Zheng Quan Bao·2025-07-11 18:18Core Viewpoint - The announcement details the progress of guarantees provided by the controlling subsidiary of Jinke Property Group Co., Ltd. for financing extensions, highlighting the significant amount of guarantees relative to the company's net assets and the associated risks [2][3]. Group 1: Guarantee Overview - The controlling subsidiary, Chongqing Houkang Real Estate Development Co., Ltd., has accepted a loan of 166.8 million yuan from China Everbright Bank, with a repayment extension of 24 months [3]. - Chongqing Houkang and another subsidiary, Chongqing Pengde Enterprise Management Co., Ltd., will provide real estate collateral for the loan, while Chongqing Jinke Industrial Group Kerun Real Estate Development Co., Ltd. will pledge 34% of its shares in Chongqing Houkang as collateral [3][5]. - The board of directors approved the increase in guarantee limits for the financing extension at the annual shareholders' meeting [3]. Group 2: Financial Status of the Guaranteed Entity - As of the end of 2024, Chongqing Houkang had total assets of 755.17 million yuan, total liabilities of 432.47 million yuan, and net assets of 322.70 million yuan [5]. - For the first quarter of 2025, the unaudited total assets were 886.67 million yuan, with total liabilities of 565.68 million yuan and net assets of 320.99 million yuan [5]. - The subsidiary reported a net profit of -17.15 million yuan for the first quarter of 2025, indicating ongoing financial challenges [5]. Group 3: Guarantee Amount and Terms - The total guarantee amount is 166.8 million yuan, with a main debt performance period of 24 months [5]. - The guarantees include real estate mortgage and share pledge as collateral [5]. Group 4: Board of Directors' Opinion - The board believes that the guarantees provided for the financing extension will not increase the company's consolidated liabilities and are in line with national policies for reasonable financing extensions [6]. - The funds raised through these guarantees will be used for operational purposes, ensuring no conflict with regulatory requirements [6]. Group 5: Cumulative Guarantee Amounts - As of the end of May 2025, the company has provided guarantees totaling 71.55 billion yuan, which is 249.47% of the latest audited net assets [6]. - The overdue guarantee amount stands at 32.98 billion yuan, with risks associated with potential claims from creditors due to bankruptcy applications against some subsidiaries [6].