JIANGSU SHENTONG VALVE CO.(SZ:002438) Zheng Quan Zhi Xing·2025-07-21 16:05Summary of Key Points Core Viewpoint - Jiangsu Shentong Valve Co., Ltd. plans to provide a joint liability guarantee for its wholly-owned subsidiary, Ruifan Energy Technology Co., Ltd., to secure a credit facility of up to RMB 600 million from commercial banks for operational needs [1][2]. Group 1: Guarantee Overview - The company intends to apply for a credit limit of up to RMB 600 million, with a one-year term and the ability to recycle the credit [1]. - The guarantee will be provided to multiple banks, including Zhejiang Commercial Bank, China Merchants Bank, and others [1]. Group 2: Financial Condition of the Guaranteed Entity - As of December 31, 2024, Ruifan Energy had total assets with a debt ratio of 71.86%, indicating a high level of leverage [2]. - Ruifan Energy is not a dishonest executor and has a good credit status [2]. Group 3: Guarantee Contract Details - The guarantee will be a joint liability guarantee with a one-year term [3]. - The specific details of the guarantee will be finalized in a formal agreement, which has yet to be signed [3]. Group 4: Board and Supervisory Committee Opinions - The board believes that the financial risks associated with the guarantee are manageable and will not affect the company's normal operations [3]. - The supervisory committee supports the guarantee, stating that the company can effectively monitor the subsidiary's operations and ensure proper use of funds [3]. Group 5: Cumulative External Guarantee Information - Including this guarantee, the total approved external guarantee amount is RMB 1.5 billion, which is 42.68% of the company's audited net assets as of December 31, 2024 [4]. - The actual external guarantee balance is RMB 289.39 million, representing 8.23% of the company's audited net assets [4]. - The company currently has no overdue external guarantees or guarantees involved in litigation [4].