Shang Hai Zheng Quan Bao·2025-09-24 21:14Core Viewpoint - The company has provided a guarantee for its wholly-owned subsidiary, Zhongji Equipment, to secure a credit line of RMB 20 million from China Merchants Bank for operational needs [1][3][7]. Group 1: Guarantee Details - The guarantee amount is set at a maximum of RMB 20 million, with a one-year credit term [1][5]. - The guarantee is structured as a joint liability guarantee, covering various financial services including loans, trade financing, and bank acceptance bills [5][6]. - The company will not charge any guarantee fees to the subsidiary and does not require counter-guarantees, indicating manageable risk [1][7]. Group 2: Internal Decision Process - The board of directors and the supervisory board approved the guarantee proposal on April 17, 2025, without needing shareholder approval [2][8]. Group 3: Progress of Guarantee - On September 23, 2025, the subsidiary signed a credit agreement with China Merchants Bank, and the company executed an irrevocable guarantee [3][9]. - The guarantee is within the previously approved limits and does not require further board approval [3][9]. Group 4: Financial Context - As of the announcement date, the total external guarantees provided by the company and its subsidiaries amount to RMB 260 million, which includes this guarantee, representing 10.05% of the company's audited net assets for 2024 [9].