Gemdale(SH:600383) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-09-13 03:54Summary of Key Points Core Viewpoint - The company has provided a guarantee for a loan of RMB 58.8 million to its subsidiary, ensuring the financing needs for a real estate project in Nanjing, which is expected to support the project's operational requirements and align with the company's overall strategic interests [1][2][4]. Group 1: Guarantee Overview - The company’s subsidiary, Jindi Commercial Real Estate Group Co., Ltd., holds a 96.405% stake in Nanjing Weixin Real Estate Development Co., Ltd., which is developing a project in Nanjing [1]. - The loan from Industrial and Commercial Bank of China amounts to RMB 58.8 million, with a maturity date of February 16, 2028 [1][2]. - The company signed a guarantee contract on September 11, providing joint liability for the loan, with a guarantee period extending three years beyond the loan maturity [1][2]. Group 2: Internal Decision-Making Process - The company’s board of directors approved the guarantee during meetings held on March 21, 2025, and June 30, 2025, authorizing the chairman to approve certain guarantee matters [1][2]. - The total authorized guarantee limit is set at RMB 25 billion, effective from the 2024 annual general meeting until the 2025 annual general meeting [1][2]. Group 3: Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary to meet the operational needs of the project company, ensuring the project's smooth operation [2]. - The company has the capability to effectively manage the project company in terms of operations and finance, indicating that the risks associated with the guarantee are controllable [2]. Group 4: Cumulative Guarantee Situation - As of the announcement date, the total external guarantee balance is RMB 17.687 billion, representing 29.96% of the company's audited net assets attributable to shareholders [4]. - The company and its subsidiaries have provided guarantees totaling RMB 12.481 billion to other subsidiaries and RMB 5.206 billion to joint ventures [4]. - There are no overdue guarantees reported by the company [4].