Zheng Quan Zhi Xing·2025-08-08 16:11Core Viewpoint - The article outlines the external guarantee management system of Great Wall Motor Co., Ltd., which was approved at the company's extraordinary general meeting on August 8, 2025. The system aims to strengthen risk management and regulate the company's external guarantee activities in accordance with relevant laws and regulations [1][2]. General Principles - The external guarantee refers to the guarantees provided by the company for others, including guarantees for its subsidiaries. The total amount of external guarantees includes those provided by the company and its subsidiaries [1][2]. - The company's shareholders' meeting and board of directors are the decision-making bodies for external guarantees, requiring approval before any guarantees can be provided [2][3]. Specific Rules - The company and its subsidiaries are prohibited from providing any form of external guarantees unless certain conditions are met, such as conducting thorough investigations into the applicant's credit status and financial condition [3][4]. - Guarantees must require the counterparty to provide counter-guarantees, which should be enforceable and from parties with actual capacity to bear the obligations [3][4]. - Certain external guarantees require shareholder meeting approval, including guarantees exceeding 10% of the company's latest audited net assets or total guarantees exceeding 50% of net assets [5][6]. Approval Authority - Guarantees requiring shareholder approval must first be reviewed and approved by the board of directors before being submitted to the shareholders' meeting [4][5]. - In cases where shareholders or actual controllers are involved, they must abstain from voting on the relevant proposals [5][6]. Risk Assessment and Monitoring - A strict risk assessment must be conducted by the project proposal department in conjunction with the finance department before providing guarantees [6][7]. - The company may hire external professional institutions to assess the risks associated with external guarantees [6][7]. Documentation and Reporting - The company must maintain proper management of guarantee contracts and related documents, ensuring their completeness and accuracy [6][7]. - Any abnormal contracts discovered must be reported to the board of directors and the audit committee [6][7]. Post-Guarantee Obligations - After the debt guaranteed by the company matures, it must urge the guarantor to fulfill their obligations and take necessary remedial measures if they fail to do so [7][8]. - If the guarantee needs to be extended, it must undergo a new approval process as a new external guarantee [9].