Zhejiang Yunzhongma (SH:603130) Shang Hai Zheng Quan Bao·2025-08-01 19:17Core Viewpoint - Zhejiang Yunzhongma Co., Ltd. has provided guarantees for its wholly-owned subsidiary, Yunzhongma Trading, to support its normal production and business development needs, which is beneficial for the company's stable operation and aligns with the overall interests of all shareholders [8][9]. Summary by Sections Guarantee Details - The company signed a maximum guarantee contract with China Minsheng Bank Wenzhou Branch on December 31, 2024, providing an irrevocable joint liability guarantee for Yunzhongma Trading's debts, with a maximum debt amount of RMB 100 million, covering the period from December 31, 2024, to December 31, 2025. As of July 10, 2025, the actual guarantee amount was RMB 35 million, and on July 17, 2025, it was RMB 50 million, with no counter-guarantee involved [1][4][10]. - Additionally, on December 10, 2024, the company signed an irrevocable guarantee letter with China Merchants Bank Wenzhou Branch, with a maximum limit of RMB 111 million, covering loans and other credit principal balances. The actual guarantee amounts were RMB 3.85 million on July 25, 2025, RMB 1.4 million on the same day, and RMB 10 million on July 29, 2025, also without counter-guarantees [2][6][10]. Internal Decision-Making Process - The company held its 16th meeting of the third board of directors on April 21, 2025, and the annual general meeting on May 13, 2025, where the proposal for the company and its wholly-owned subsidiary to apply for comprehensive credit limits and guarantee matters was approved. The total guarantee amount for the wholly-owned subsidiary does not exceed RMB 2.7 billion, which is within the approved limit by the shareholders' meeting [3][9]. Necessity and Reasonableness of the Guarantee - The guarantees provided by the company are aimed at meeting the operational needs of its wholly-owned subsidiary, which is in good operating condition, allowing the company to effectively control and manage its daily operations, thus ensuring that the guarantee risks are manageable [8]. Board of Directors' Opinion - The board of directors unanimously approved the proposal, believing that the guarantees are necessary for the operational needs of the company and its subsidiary, promoting business development and enhancing operational efficiency and profitability, which aligns with the long-term interests of the company [9]. Cumulative Guarantee Situation - As of the announcement date, the total guarantee balance provided by the company to its subsidiaries is RMB 472.489 million, which is within the annual guarantee estimated limit and accounts for 35.54% of the company's most recent audited net assets. There are no overdue guarantees, and no guarantees have been provided to entities outside the wholly-owned subsidiary [10].