Qijing Machinery(SH:603677) Zheng Quan Zhi Xing·2025-08-21 05:40Core Points - The company has approved an increase in its bank credit limit and will provide guarantees for its wholly-owned subsidiary, Qijing Industry, amounting to 20 million RMB [1][2] - The total approved credit limit for the company and its subsidiaries for 2025 is now 1.45 billion RMB, following the recent approvals [2][4] - The guarantees are intended to support the operational needs of the subsidiaries and are deemed necessary for their stable operation and long-term development [8][9] Summary by Sections 1. Guarantee Details - The company will provide a joint liability guarantee for its subsidiary, Qijing Industry, for a credit application of 20 million RMB [1][2] - As of the announcement date, the total amount of external guarantees provided by the company is 20 million RMB, which accounts for 1.73% of the company's latest audited net assets [9] 2. Credit Limit Increase - The company has approved a total credit limit increase of 875 million RMB for the period from April 11, 2025, to December 31, 2025, which includes various financing methods [2][3] - The total approved credit limit for 2025, after the increase, is 1.77 billion RMB [2][3] 3. Financial Overview - The financial metrics of the subsidiary, Qijing Industry, include total assets of 1.729 billion RMB and total liabilities of 569 million RMB as of the first quarter of 2025 [8] - The subsidiary reported a net profit of -21.384 million RMB for the first quarter of 2025, indicating a loss compared to a profit of 18.389 million RMB in the previous audited year [8] 4. Internal Decision-Making Process - The decision to increase the credit limit and provide guarantees was unanimously approved by the company's board of directors, and it does not require further shareholder approval [9] - The guarantees are considered manageable risks, with no significant adverse effects anticipated on the company's operations or shareholder interests [9]