Summary of Key Points Core Viewpoint - Dazhong Mining Co., Ltd. has announced the progress of guarantees provided by its wholly-owned subsidiary, indicating a significant amount of external guarantees and their implications for the company's financial health [2][12]. Group 1: Guarantee Overview - The total external guarantee balance of the company and its subsidiaries is 463,723.95 million yuan, accounting for 71.21% of the company's most recent audited net assets [2][12]. - The company has approved a total external guarantee limit of up to 437,000 million yuan for the year 2025, which can be adjusted based on actual needs [5][12]. - The guarantees are valid for 12 months from the date of approval by the shareholders' meeting, and specific guarantee matters will be managed by the company's management team [5][12]. Group 2: Recent Guarantee Developments - Recently, the company signed a letter of credit contract worth 10,000 million yuan with China Postal Savings Bank, with its subsidiary, Anhui Jinri Sheng Mining Co., Ltd., providing joint liability guarantees [6][12]. - This guarantee falls within the previously approved scope and does not require further board or shareholder approval [6][12]. - The guarantee period for this contract is three years from the maturity of the main contract's debt [9][10]. Group 3: Company Financials and Credit Rating - The company has a registered capital of 1,508,021,588 yuan and has been rated AA by Zhongjian Pengyuan Credit Rating Co., Ltd. as of June 27, 2025 [7][8]. - As of the announcement date, the company has incurred external guarantees amounting to 285,060.70 million yuan and has mortgage loans totaling 188,000 million yuan, with no significant litigation or arbitration issues reported [8][12].
大中矿业股份有限公司关于全资子公司为公司提供担保的进展公告