GRANDJOY(SZ:000031) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-08-01 23:11Summary of Key Points Core Viewpoint - The company has provided a guarantee for its joint venture, Beijing Henghe Yuxing Real Estate Co., Ltd., to secure a loan of 960 million yuan from Tianheng Real Estate Group Co., Ltd. The guarantee amount is capped at 271.5 million yuan, reflecting the company's commitment to support its joint venture's funding needs [1][4]. Group 1: Guarantee Overview - The company’s wholly-owned subsidiary, COFCO Real Estate (Beijing) Co., Ltd., has signed a guarantee letter to provide joint liability guarantee for the loan [1]. - The loan agreement has been extended until December 31, 2027, and the company has approved a guarantee limit of 1.715 billion yuan for the year 2025 [1][2]. Group 2: Financial Status of the Guaranteed Entity - Beijing Henghe Yuxing Real Estate Co., Ltd. has total assets of 542.474 million yuan and total liabilities of 824.597 million yuan as of December 31, 2024, resulting in a negative net asset of 282.123 million yuan [2]. - For the first half of 2025, the company reported total assets of 530.304 million yuan and total liabilities of 861.976 million yuan, with a net asset of -331.672 million yuan [2]. Group 3: Guarantee Agreement Details - The guarantee provided by the company is based on its 49% equity stake in the joint venture, covering a maximum principal amount of 271.5 million yuan [3]. - The guarantee period lasts for three years from the maturity of the loan agreement [3]. Group 4: Board of Directors' Opinion - The board believes that the guarantee aligns with the company's legal and regulatory framework and does not harm the interests of the company or its shareholders [4]. - The company maintains oversight of the joint venture's financial status through management personnel, ensuring that financial risks are manageable [4]. Group 5: Cumulative Guarantee Information - As of the completion of this guarantee, the company and its subsidiaries have a total guarantee balance of approximately 1.571 billion yuan, which is 148.35% of the net assets attributable to shareholders as of December 31, 2024 [5]. - There are no overdue guarantees or guarantees involved in litigation [5].