Shang Hai Zheng Quan Bao·2025-08-29 22:41Core Viewpoint - The company, China Railway, has reported its second-quarter external guarantee situation for 2025, detailing the actual guarantee amounts and the total cumulative guarantee balance as of June 30, 2025 [6][10]. Group 1: Company Overview - China Railway is involved in providing guarantees for its wholly-owned subsidiaries and joint ventures to support their operational needs [9]. - The company has a total external guarantee budget of 2,036.78 billion RMB for the period from the second half of 2024 to the first half of 2025, which includes 1,042.78 billion RMB for wholly-owned and controlling subsidiaries and 94 million RMB for joint ventures and external units [8]. Group 2: Financial Data - The actual guarantee amount for the second quarter of 2025 was 14.41 billion RMB, with a cumulative guarantee balance of 922.45 billion RMB as of June 30, 2025 [6][10]. - The cumulative guarantee amount provided to wholly-owned and controlling subsidiaries was 861.39 billion RMB, which represents 26.0% of the company's latest audited net assets [10]. Group 3: Risk Management - The company has not provided any guarantees to its controlling shareholders or related parties, and there are no overdue guarantees [10]. - The assets and liabilities ratio of the guaranteed parties is generally above 70%, indicating a need for investors to be aware of potential risks [7].