Fenglin Group(SH:601996) Zheng Quan Zhi Xing·2025-07-24 16:11Core Viewpoint - The company has announced the provision of guarantees for its wholly-owned subsidiaries to support their operational financing needs, with a total guarantee amount of RMB 130 million for three subsidiaries [1][2][10]. Summary by Sections Guarantee Overview - The company has provided guarantees for three subsidiaries: Baise Fenglin (RMB 135 million), Fenglin Particleboard (RMB 145 million), and Huizhou Fenglin (RMB 20 million) [1]. - The guarantees are aimed at meeting the daily operational financing needs of the subsidiaries and are not associated with any related party transactions [1][10]. Internal Decision-Making Process - The company’s board of directors approved the provision of guarantees for subsidiaries during a meeting on April 10, 2025, allowing a maximum external guarantee limit of RMB 600 million for the year [2]. - The approved guarantee limit includes RMB 100 million for subsidiaries with a debt ratio above 70% and RMB 500 million for those below [2]. Subsidiary Information - Baise Fenglin has total assets of approximately RMB 651.57 million and total liabilities of RMB 244.42 million as of March 31, 2025 [3][4]. - Fenglin Particleboard has total assets of approximately RMB 539.36 million and total liabilities of RMB 182.54 million as of March 31, 2025 [6]. - Huizhou Fenglin has total assets of approximately RMB 272.73 million and total liabilities of RMB 120.84 million as of March 31, 2025 [8]. Guarantee Agreement Details - The guarantees are structured as joint liability guarantees with a maximum guarantee amount of RMB 45 million for Baise Fenglin and Fenglin Particleboard, and RMB 20 million for Huizhou Fenglin [9][10]. - The guarantee period is from July 23, 2025, to May 23, 2026, with a three-year guarantee period following the debt performance deadline [9]. Necessity and Reasonableness of Guarantees - The provision of guarantees is deemed necessary for the subsidiaries' stable operations and long-term development, aligning with the interests of the company and its shareholders [10]. - The board believes that the subsidiaries have stable operating conditions and good credit status, making the guarantee risks controllable [10]. Cumulative External Guarantee Status - As of the announcement date, the total external guarantees provided by the company and its subsidiaries amount to RMB 825 million, representing 31.57% of the company's audited net assets for 2024 [10].