Kingking(SZ:002094) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-08-20 19:44Core Viewpoint - Qingdao Kingking Chemical Co., Ltd. has approved a resolution for its wholly-owned subsidiaries to provide guarantees for the parent company's application for a comprehensive credit line from China Construction Bank, which will be submitted for shareholder approval [1][5][6]. Group 1: Board Meeting Resolutions - The second temporary meeting of the ninth board of directors was held on August 19, 2025, with all 8 directors present, and the meeting was deemed legal and effective [1][2]. - The board approved the proposal for the wholly-owned subsidiaries to provide guarantees for the parent company's credit application, which will be submitted to the shareholders' meeting for approval [1][6]. Group 2: Guarantee Details - The company applied for a credit line of up to 300 million yuan, which will be adjusted to a different branch of China Construction Bank due to internal restructuring [6]. - The subsidiaries providing guarantees include Qingdao Kingking Industry Chain Management Co., Ltd., Qingdao Kingking International Trade Co., Ltd., Guangzhou Hanya Biotechnology Co., Ltd., and Zhongzhuang Youxuan Commercial Retail Co., Ltd. [6]. - The guarantee period will not exceed three years from the signing of the guarantee agreement, and the guarantee does not constitute a related party transaction [6][8]. Group 3: Financial Overview - As of December 31, 2024, the company reported total assets of 3.121 billion yuan, total liabilities of 1.629 billion yuan, and a debt-to-asset ratio of 52.19% [7]. - The net assets amounted to 1.470 billion yuan, with an operating income of 1.793 billion yuan and a net profit attributable to shareholders of 35 million yuan for the year 2024 [7]. Group 4: Upcoming Shareholder Meeting - The first temporary shareholders' meeting of 2025 is scheduled for September 5, 2025, with a registration date of September 2, 2025 [11][12][13]. - The meeting will combine on-site voting and online voting, allowing shareholders to participate through designated systems [14][23].