Hangcha (SH:603298) Zheng Quan Zhi Xing·2025-08-13 16:23Summary of Key Points Core Viewpoint - The announcement details the provision of a guarantee by Hangcha Group for its subsidiary, Zhejiang Hangcha Import and Export Co., Ltd., amounting to RMB 35 million, which is part of a total guarantee balance of RMB 50 million [1][3]. Group 1: Guarantee Details - The guarantee amount for Zhejiang Hangcha Import and Export Co., Ltd. is RMB 35 million [1]. - The total guarantee balance provided by the company is RMB 50 million [1]. - The company has confirmed that this guarantee is within the previously estimated limit [1]. Group 2: Financial and Operational Context - The company has a total external guarantee amount of RMB 52 million, which represents 5.12% of the latest audited net assets [8]. - The company has no overdue guarantees or guarantees involved in litigation [8]. - The subsidiary's asset-liability ratio exceeds 70%, but the company maintains control over its operations and financial management [7][8]. Group 3: Decision-Making Process - The board of directors approved the guarantee during meetings held on April 17, 2025, and May 8, 2025, emphasizing the necessity for the subsidiary's operational funding [3][8]. - The decision to provide the guarantee aligns with the company's business development and market expansion needs [8]. Group 4: Subsidiary Information - Zhejiang Hangcha Import and Export Co., Ltd. is a holding subsidiary with a 51.07% ownership by Hangcha Group [5]. - The subsidiary was established on September 20, 2005, with a registered capital of RMB 2,070 million [5].