Tianan New Material(SH:603725) Zheng Quan Zhi Xing·2025-07-15 09:30Summary of Key Points Core Viewpoint - The company and its subsidiary are providing guarantees for the loans of their controlling subsidiary, Foshan Shiwai Yingpai Ceramics Co., Ltd., totaling RMB 96.36 million, to support its operational needs and maintain control over its credit status [1][2][6]. Group 1: Guarantee Details - The company provides a maximum guarantee of RMB 63.36 million for Foshan Shiwai Yingpai, while its subsidiary, Heyuan Dongyuan Yingpai, provides a maximum guarantee of RMB 96 million [1][6]. - The guarantees are structured as joint liability guarantees, with a term of three years from the date the debtor fulfills its obligations [6]. Group 2: Internal Decision-Making Process - The company held board meetings on April 16, 2025, and May 8, 2025, to approve the guarantee and credit limit proposals, which were also ratified at the annual shareholders' meeting [2][4]. - The total authorized guarantee limit for various subsidiaries is RMB 1.3 billion, allowing for flexibility in managing financial needs [2]. Group 3: Financial Position of the Guaranteed Entity - Foshan Shiwai Yingpai has total assets of RMB 840.59 million and total liabilities of RMB 611.06 million as of the first quarter of 2025 [5]. - The company holds a 66% stake in Foshan Shiwai Yingpai, which has reported a net profit of RMB 7.65 million for the first quarter of 2025 [5]. Group 4: Risk Management and Board Opinion - The board believes that the guarantees are necessary and reasonable, ensuring that they do not harm the interests of the company or its shareholders, particularly minority shareholders [6]. - The company has no overdue external guarantees, and the total external guarantee amount is RMB 902.35 million, which exceeds the latest audited net assets by 118.74% [6].