Longi(SH:601012) Shang Hai Zheng Quan Bao·2025-08-05 18:17Core Viewpoint - The company has provided a significant amount of guarantees to its wholly-owned subsidiaries, totaling approximately RMB 20.63 billion recently, with cumulative guarantees amounting to RMB 25.79 billion, which represents 42.35% of the company's latest audited net assets [1][6]. Group 1: Guarantee Details - The recent guarantees include RMB 3.54 billion for external parties and RMB 25.43 billion for inter-subsidiary guarantees [1][6]. - The guarantees provided are primarily for the operational needs of subsidiaries, including performance guarantees for sales activities in the U.S. and Europe, totaling RMB 16.67 billion [3][6]. - No counter-guarantees are associated with the recent guarantees, and there have been no overdue guarantees reported [2][6]. Group 2: Decision-Making Process - The board of directors and the shareholders' meeting approved the guarantee limits for 2025, allowing for a total of up to RMB 50 billion in guarantees, with specific limits for entities with asset-liability ratios above and below 70% [4][5]. - The guarantees are within the authorized limits and do not require further approval from the board or shareholders [5][6]. Group 3: Necessity and Reasonableness of Guarantees - The guarantees are deemed necessary to support the operational development of subsidiaries, allowing the company to effectively manage risks and monitor creditworthiness [6]. - The board believes that these guarantees align with the company's overall strategy and operational needs [6].