Hangzhou Cables(SH:603618) Shang Hai Zheng Quan Bao·2025-09-10 19:35Core Points - The company has provided a guarantee for its wholly-owned subsidiary, Yongte Information, to secure a loan of 20 million RMB from Hangzhou Rural Commercial Bank [1][5] - The guarantee period is from September 8, 2025, to September 7, 2026, and no counter-guarantee has been provided [1][5] - The total guarantee amount for the year 2025 is capped at 1.9 billion RMB, allowing for adjustments among subsidiaries as needed [2] Summary by Sections Guarantee Details - The company has signed a maximum guarantee contract for a loan of 20 million RMB for Yongte Information [1][5] - The guarantee covers all creditor rights, including principal, interest, penalties, and related costs [4] Internal Decision Process - The decision to provide guarantees was approved in the board meeting on April 22, 2025, and at the annual shareholders' meeting on May 13, 2025 [2] - Yongte Information has no record of being a dishonest debtor according to public records [2] Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary to support the operational funding needs of the subsidiary, ensuring smooth business operations [5] - The company maintains effective control and supervision over the subsidiary, mitigating potential risks [5] Cumulative Guarantee Situation - As of the announcement date, the total external guarantees provided by the company and its subsidiaries amount to 1.9 billion RMB, which is 63.24% of the company's audited net assets for 2024 [6] - There are no overdue guarantees reported [6]