DHKJ(SH:600288) Zheng Quan Zhi Xing·2025-08-07 09:16Core Viewpoint - The company has announced a guarantee for its controlling subsidiary, China Daheng (Group) Co., Ltd., amounting to RMB 8 million, which is part of a larger authorized guarantee limit of up to RMB 580 million for its subsidiaries [1][2][6]. Summary by Sections Guarantee Overview - The company is providing a guarantee for its subsidiary, China Daheng, to apply for a credit facility from CITIC Bank, with the company holding a 72.70% stake in China Daheng [1]. - The total guarantee amount is RMB 8 million, with no counter-guarantee provided [1]. - There are no overdue external guarantees [1]. Guarantee Authorization - The board of directors approved a guarantee limit of up to RMB 580 million for its subsidiaries, with specific limits based on their debt-to-asset ratios [2]. - For subsidiaries with a debt-to-asset ratio exceeding 70%, the guarantee limit is capped at RMB 180 million, while those below 70% can receive up to RMB 400 million [2]. - The authorization is valid until the next annual general meeting in 2025 [2]. Financial Status of the Guaranteed Entity - As of March 31, 2025, China Daheng's debt-to-asset ratio was 42.25%, indicating a stable financial position [2][6]. - The company’s total assets were RMB 142.18 million, with total liabilities of RMB 60.07 million, resulting in a net asset value of RMB 82.11 million [4][6]. Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary to support China Daheng's operational needs and aligns with the company's overall development strategy [5]. - The company maintains effective control over the subsidiary's daily operations and financial health, ensuring that the guarantee does not harm the interests of the company or minority shareholders [5][6]. Board of Directors' Opinion - The board unanimously approved the guarantee proposal, confirming that it is within the authorized limit and does not pose risks to the company or its shareholders [6]. - The total external guarantees provided by the company and its subsidiaries amount to RMB 598.17 million, which is 32.60% of the latest audited net assets [6].