Huatong Meat(SZ:002840) Sou Hu Cai Jing·2025-09-25 10:31Summary of Key Points Core Viewpoint - Zhejiang Huatong Meat Products Co., Ltd. has provided a guarantee for its subsidiary, Xianju Huatong Breeding Co., Ltd., amounting to RMB 20 million, which exceeds 100% of the company's latest audited net assets, indicating a significant guarantee risk for investors [1][6]. Group 1: Guarantee Overview - The company signed a maximum guarantee contract with China Minsheng Bank on September 23, 2025, to provide joint liability guarantee for the subsidiary's credit contract, with a maximum principal amount of RMB 20 million [1][5]. - The guarantee period lasts for three years from the debt performance deadline, covering principal, interest, penalties, and costs related to enforcing the guarantee rights [5][6]. Group 2: Guarantee Approval Process - The company held board meetings on December 16, 2024, and January 2, 2025, to approve the provision of guarantees for subsidiary financing, with a total guarantee limit of up to RMB 990 million for 2025 [2][6]. - The approved guarantee includes a limit of RMB 20 million for subsidiaries with a debt-to-asset ratio below 70% and RMB 790 million for those above [2][6]. Group 3: Subsidiary Information - Xianju Huatong Breeding Co., Ltd. was established on July 10, 2017, with a registered capital of RMB 130 million, and operates in breeding and transportation of livestock [3][4]. Group 4: Financial Position and Risks - As of the announcement date, the company has a total approved external guarantee amount of RMB 461.225 million, with an actual guarantee balance of RMB 316.525 million, which is 130.19% of the company's audited net assets as of December 31, 2024 [6][7]. - There are no overdue guarantees or other external guarantees outside the consolidated financial statements [7].