Zhejiang Yonghe Refrigerant (SH:605020) Zheng Quan Zhi Xing·2025-09-02 11:14Core Viewpoint - Zhejiang Yonghe Refrigeration Co., Ltd. has announced the provision of guarantees for its subsidiaries, including a guarantee of RMB 400 million for Baotou Yonghe New Materials Co., Ltd. and RMB 30 million for Zhejiang Binglong Environmental Technology Co., Ltd. [1][2] Summary by Sections Guarantee Overview - The company has signed a guarantee contract with a syndicate of banks for Baotou Yonghe New Materials Co., Ltd. to support its production and project needs [1] - The total guarantee amount for Baotou Yonghe is RMB 400 million, while for Binglong Environmental, it is RMB 30 million, with the actual guarantee balance for Binglong being RMB 1.666 million [1][2] Internal Decision-Making Process - The company held board meetings on April 23, 2025, and May 16, 2025, to approve the guarantee limits for the fiscal year 2025, allowing for a total of RMB 4.3 billion in guarantees for subsidiaries [2] Basic Information of Guaranteed Entities - Baotou Yonghe New Materials Co., Ltd. is a wholly-owned subsidiary of the company, established in September 2021, with a registered capital of RMB 133.6 million [3] - Zhejiang Binglong Environmental Technology Co., Ltd. is a holding subsidiary, established in November 2017, with a registered capital of RMB 5 million [4][5] Guarantee Agreement Details - The guarantee for Baotou Yonghe covers principal, interest, penalties, and other related costs associated with the loans [7] - The guarantee for Binglong Environmental includes a maximum limit of RMB 30 million, covering similar financial obligations [8] Necessity and Reasonableness of Guarantees - The guarantees are deemed necessary for supporting the subsidiaries' project construction and daily operations, aligning with the company's overall interests and development strategy [8] - Despite Binglong's debt ratio exceeding 70%, the company maintains control over its operations and financial management, which mitigates perceived risks [8] Board of Directors' Opinion - The board unanimously approved the guarantee limits, emphasizing that these measures support the sustainable development of the company and its subsidiaries [9] Cumulative Guarantee Situation - As of the announcement date, the company has a total external guarantee balance of RMB 246.34 million, representing 8.64% of the latest audited net assets, with no overdue guarantees reported [9]