AXNMC(SH:600255) Shang Hai Zheng Quan Bao·2025-08-18 19:16Summary of Key Points Core Viewpoint - The announcement details the provision of a guarantee by Anhui Xinke New Materials Co., Ltd. for its subsidiary, Xinke Copper Industry, to secure financing from Hangzhou Bank for a total amount of RMB 50 million over a three-year period [2][6]. Group 1: Guarantee Details - The guarantee is structured as a joint liability guarantee for financing contracts signed between Xinke Copper Industry and Hangzhou Bank from August 20, 2025, to August 19, 2028 [2][4]. - The total amount of guarantees provided by the company to Xinke Copper Industry, including this new guarantee, is RMB 139.626 million [2][7]. - The company has a total external guarantee amount of RMB 226.076 million, which represents 158.02% of the company's audited net assets attributable to the parent company for the year 2024 [7]. Group 2: Internal Decision-Making Process - The guarantee was approved by the company's board of directors on March 28, 2025, and subsequently ratified at the annual general meeting on April 29, 2025 [3][6]. - The board has authorized guarantees up to RMB 300 million for financing needs of the company and its subsidiaries, which includes mutual guarantees among subsidiaries [6][7]. Group 3: Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary for the business development and operational needs of the subsidiary, aligning with the overall interests and strategic development of the company [6]. - The company maintains effective management over the subsidiary's operations, allowing for timely assessment of its creditworthiness and performance capabilities, thus controlling the guarantee risk [6].