Aonong Group(SH:603363) Shang Hai Zheng Quan Bao·2025-08-08 18:46Core Viewpoint - Fujian Aonong Biological Technology Group Co., Ltd. announced that its wholly-owned subsidiary, Ji'an Aonong Biological Technology Co., Ltd., has compensated for debts on behalf of Yongxin Aoshun Ecological Agriculture Technology Co., Ltd. due to its inability to repay, with an initial payment of 10 million yuan and potential further compensation not exceeding 25 million yuan [2][7]. Summary by Sections 1. Guarantee Overview - Ji'an Aonong and Ji'an Aoyuan Agricultural Technology Co., Ltd. provided joint liability guarantees for Yongxin Aoshun's debts totaling 23.5 million yuan related to a pig purchase and sales contract with Ganzhou Wanfeng Food Co., Ltd. [3] - The company has disclosed these guarantees previously and is undergoing a restructuring process, which has led to the separation of Yongxin Aoshun from the consolidated financial statements [3]. 2. Basic Information of the Guaranteed Party - Yongxin Aoshun is a limited liability company established on February 5, 2021, with a registered capital of 30 million yuan, and is fully owned by Xiamen Aonong Modern Agricultural Technology Co., Ltd. [4]. 3. Latest Developments on the Guarantee - Due to Yongxin Aoshun's failure to meet repayment obligations, Ganzhou Wanfeng filed for arbitration, claiming a total debt of approximately 29.09 million yuan, with Ji'an Aonong and Ji'an Aoyuan responsible for 23.5 million yuan of this amount [6]. - A mediation agreement was reached on July 23, 2025, confirming the claims of Ganzhou Wanfeng [6]. 4. Impact of Guarantee on the Company - The company has already accrued a provision for expected losses amounting to 31.19 million yuan as of the end of 2024, which covers the compensation payments made [7]. - The company plans to pursue recovery from Yongxin Aoshun to protect its interests and those of its investors [7]. 5. Total External Guarantees and Overdue Guarantees - As of June 30, 2025, the total external guarantees provided by the company and its subsidiaries amounted to approximately 1 billion yuan, representing 38.99% of the latest audited net assets [8]. - The overdue guarantees amount to approximately 552 million yuan, with a significant portion related to guarantees provided for subsidiaries that have been transferred to a trust platform [8].