Zheng Quan Zhi Xing·2025-07-24 16:21Overview - Shenzhen Saige Co., Ltd. has provided a guarantee for its subsidiary Huizhou Qunxing Real Estate Development Co., Ltd. to secure a loan of RMB 150 million from Beijing Bank [1][2] - Huizhou Qunxing has faced financial difficulties, leading to a failure to repay the loan, resulting in Saige Co. fulfilling its guarantee obligations [2] Guarantee Situation - Saige Co. holds a 79.02% stake in Saige Real Estate, which in turn holds an 88% stake in Huizhou Qunxing [1] - The guarantee provided by Saige Real Estate covers the loan amount of RMB 150 million, with a guarantee period of two years after the loan's maturity [1] Financial Impact - As of now, Saige Real Estate has compensated a total of RMB 7,202,930.85, which includes principal repayment of RMB 4,999,951.66 and interest of RMB 2,202,979.19 [2] - Huizhou Qunxing's financial situation is concerning, with total assets of RMB 415.76 million and total liabilities of RMB 589.41 million, resulting in a negative net asset of RMB -173.66 million [3] Future Actions - Saige Co. plans to encourage Huizhou Qunxing to improve its financial situation through property sales, rental operations, and expanding financing channels to repay the owed amounts [4] - The company retains the right to take legal action to protect its interests and those of its shareholders [4]