TORCH ELECTRON(SH:603678) Zheng Quan Zhi Xing·2025-07-21 16:18Core Viewpoint - The company, Fujian Torch Electronic Technology Co., Ltd., has provided guarantees for its wholly-owned subsidiary, Suzhou Leidu Electronics Co., Ltd., totaling RMB 200 million, with a current guarantee balance of RMB 510 million, to support its operational needs [1][2][5]. Group 1: Guarantee Details - The company signed two guarantee contracts on July 18, 2025, with China Construction Bank and China Minsheng Bank, each providing a maximum guarantee of RMB 100 million [1][4]. - The total external guarantee amount provided by the company and its subsidiaries is RMB 1.602 billion, which accounts for 29.21% of the company's audited net assets as of December 31, 2024 [5]. Group 2: Internal Decision-Making Process - The guarantees were approved during the 20th meeting of the sixth board of directors on March 20, 2025, and the annual general meeting on April 11, 2025, within the authorized limit of RMB 2.251 billion for the year [2][5]. - The financial condition of the guaranteed subsidiary has not significantly changed, ensuring the company's ability to manage risks effectively [2][5]. Group 3: Subsidiary Information - Suzhou Leidu Electronics Co., Ltd. is a wholly-owned subsidiary of the company, established on June 4, 2003, with a registered capital of RMB 100 million [3]. - The subsidiary's total assets as of the first quarter of 2025 were RMB 1.0635 billion, with a net profit of RMB 10.896 million for the same period [3].