NINGBO FUDA(SH:600724) Zheng Quan Zhi Xing·2025-07-16 10:20Core Viewpoint - Ningbo Fuda Co., Ltd. has announced the provision of guarantees for its subsidiaries, Mengzi Yingzhou Cement Co., Ltd. and Xinpingshan Cement Co., Ltd., to support their operational needs and ensure financial stability [1][6]. Summary by Sections Guarantee Overview - The total guarantee amount provided by the company for Mengzi Company is 30 million RMB, while for Xinpingshan Company, it is 50 million RMB, with a cumulative guarantee balance of 120 million RMB for Xinpingshan before this announcement [1][2]. - The company has provided a total of 250 million RMB in guarantees to its subsidiaries, with no overdue guarantees reported [2][6]. Subsidiary Information - Mengzi Yingzhou Cement Co., Ltd.: - Established on December 10, 2001, with a registered capital of 100 million RMB [3]. - As of March 31, 2025, it reported total assets of 415.74 million RMB and total liabilities of 218.78 million RMB, resulting in a debt-to-asset ratio of 52.6% [4]. - Xinpingshan Cement Co., Ltd.: - Established on October 18, 2018, with a registered capital of 100 million RMB [3]. - As of March 31, 2025, it reported total assets of 215.70 million RMB and total liabilities of 99.01 million RMB, resulting in a debt-to-asset ratio of 45.9% [4]. Guarantee Details - The guarantees are part of a supply chain finance initiative, with a total reverse factoring financing limit of 80 million RMB, effective until June 24, 2026 [2][3]. - The company will assume joint repayment responsibility for the debts of its subsidiaries under this financing arrangement [3][4]. Necessity and Reasonableness of Guarantees - The guarantees are deemed necessary for the daily operational needs of the subsidiaries and are within the authorized limits set by the company's shareholders [6]. - The board of directors believes that these guarantees will not harm the interests of the company or its shareholders and will not adversely affect the company's operations [6].