Yongmaotai(SH:605208) Shang Hai Zheng Quan Bao·2025-08-21 20:24Core Viewpoint - Shanghai Yongmaotai Automotive Technology Co., Ltd. has announced the provision of guarantees for its wholly-owned subsidiaries, aiming to support their bank loan applications totaling RMB 4.5 million [2][4][16] Summary by Sections Guarantee Overview - The company signed two guarantee contracts with Guande Rural Commercial Bank for its subsidiaries Anhui Yongmaotai Automotive Parts Co., Ltd. and Anhui Yongmaotai Aluminum Co., Ltd., each for a loan of RMB 10 million, with a guarantee period of three years [4][15] - Anhui Aluminum will also provide a guarantee for its wholly-owned subsidiary, Guande Wantai New Materials Co., Ltd., for a loan of RMB 25 million, with a similar guarantee period [4][15] Internal Decision-Making Process - The company’s board approved the guarantee limits of RMB 600 million for Anhui Yongmaotai Automotive Parts and RMB 500 million for Anhui Yongmaotai Aluminum during a meeting on April 17, 2025 [6] - The shareholders approved these guarantees at the annual general meeting held on May 16, 2025 [6] Basic Information of Guaranteed Entities - Anhui Yongmaotai Automotive Parts Co., Ltd. was established on December 26, 2012, with a registered capital of RMB 200 million [7][8] - Anhui Yongmaotai Aluminum Co., Ltd. was established on February 8, 2007, with a registered capital of RMB 38 million [10][11] - Guande Wantai New Materials Co., Ltd. was established on May 16, 2023, with a registered capital of RMB 20 million [13][14] Guarantee Agreement Details - The main debts guaranteed include loans of RMB 10 million each for Anhui Yongmaotai Automotive Parts and Anhui Yongmaotai Aluminum, and RMB 25 million for Guande Wantai New Materials, with loan terms from August 20, 2025, to August 20, 2026, and August 20, 2028, respectively [14][15] - The guarantees cover all debts under the main contracts, including principal, interest, penalties, and other related costs [14][15] Necessity and Reasonableness of Guarantees - The guarantees are deemed necessary to support the subsidiaries' operational liquidity needs, with the associated risks considered manageable based on their current financial status [16] Cumulative Guarantee Amount and Status - As of August 20, 2025, the total guarantee amount provided by the company and its subsidiaries is RMB 1.04585 billion, representing 49.79% of the company's audited net assets as of the end of 2024 [16] - There are no overdue guarantees reported [16]