West Construction(SZ:002302) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-08-09 00:05Summary of Key Points Core Viewpoint - The company has approved a total bank credit guarantee limit of up to 1.5 billion yuan for its subsidiaries, aiming to support their normal production and operations, which aligns with the company's overall interests [1][4]. Group 1: Guarantee Overview - The company approved a bank credit guarantee limit not exceeding 1.5 billion yuan for its subsidiaries during board meetings held on April 2, 2025, and May 16, 2025 [1]. - The guarantee period is from the approval date until the next annual general meeting in 2025 [1]. - The specific guarantee amount for the subsidiary, China Construction West Construction No. 9 Co., Ltd., is set at 120 million yuan [1]. Group 2: Current Guarantee Status - As of August 5, 2025, the company has issued seven outstanding guarantees totaling 480 million yuan within the approved limit [2]. - The guarantees include amounts of 100 million yuan for a subsidiary in Shanghai, 20 million yuan and 50 million yuan for a digital technology subsidiary, 30 million yuan for a mining subsidiary, and 100 million yuan for a subsidiary in Xinjiang, as well as 80 million yuan for a subsidiary in Guizhou [2]. Group 3: Guarantee Agreement Details - The guarantee agreement with CITIC Bank for the No. 9 Company has a maximum guarantee amount of 80 million yuan [2][3]. - The guarantee is structured as a joint liability guarantee covering principal debts, interest, penalties, and other related costs [3]. Group 4: Impact on the Company - The guarantee for the No. 9 Company is intended to ensure its normal operations and is considered manageable in terms of risk, with no adverse effects anticipated for the company [4]. - The total outstanding guarantees amount to 480 million yuan, representing 5.06% of the company's audited net assets for the fiscal year 2024 [4]. - There have been no overdue guarantees or legal issues related to the guarantees [4].