VCG(SZ:000681) Zheng Quan Zhi Xing·2025-07-29 16:09Summary of Key Points Core Viewpoint - Visual China is entering into a guarantee agreement with Hangzhou Bank to support its wholly-owned subsidiary, Beijing Huaxia Visual Technology Group, with a maximum financing amount of 50 million RMB [1][3]. Group 1: Guarantee Overview - The company will provide a joint liability guarantee for the debts incurred by its subsidiary under the financing contract with Hangzhou Bank [1]. - The total guarantee amount for Beijing Huaxia Visual Technology Group is set at 100 million RMB, with similar amounts allocated for two other subsidiaries, Hanhua Yimei (Tianjin) Image Technology Co., Ltd. and Hanhua Yimei Visual Technology Co., Ltd. [2]. - The authorization period for the guarantee is twelve months from the approval date at the 2024 annual shareholders' meeting [2]. Group 2: Financial Data of the Subsidiary - As of December 31, 2024, Beijing Huaxia Visual Technology Group reported total assets of 1.75 billion RMB and total liabilities of 1.23 billion RMB [3]. - The subsidiary's operating income was approximately 489.8 million RMB, with a total profit of 56.9 million RMB [3]. Group 3: Guarantee Agreement Details - The guarantee is structured as a joint liability guarantee, covering all principal, interest, penalties, and related costs associated with the financing [3]. - The guarantee period for each financing transaction will be calculated separately, lasting three years from the debt fulfillment deadline [3]. Group 4: Total Guarantee Amount - The total authorized guarantee amount approved by the shareholders' meeting is 413.315 million RMB, which includes 300 million RMB for new guarantees and 113.315 million RMB from previous years [5]. - After this guarantee, the total outstanding guarantee amount for subsidiaries will be 163.315 million RMB, which does not involve any litigation or losses due to guarantees [5].