Keda Group(SH:600499) Shang Hai Zheng Quan Bao·2025-09-25 20:37Core Viewpoint - The company has provided guarantees for its subsidiaries to support their financing needs, with a total guarantee limit of up to 270 million yuan approved by the board and shareholders [1][2]. Summary by Sections Guarantee Overview - The company has signed external guarantee contracts to meet the business development needs of its subsidiaries, specifically for financing credit [1]. - The approved guarantee limits include 103 million yuan for Koyou International and 32 million yuan for Tefu (Guangzhou) Home Co., Ltd [1]. Guarantee Adjustment - The company has adjusted the guarantee limits for certain subsidiaries based on their actual operational needs, which falls within the previously approved limits and does not require further approval [2]. - As of 2025, the company has provided guarantees of 59.30 million yuan for Koyou International and 5 million yuan for Tefu Home [2]. Credit Status of Guaranteed Parties - The credit status of the guaranteed parties is good, and they are not classified as dishonest executors, with no significant issues affecting their debt repayment capabilities [3]. Necessity and Reasonableness of Guarantees - Koyou International serves as the company's overseas business trade platform, necessitating ongoing financing due to long payment terms in international trade, which increases temporary debt levels [3]. - The guarantees aim to replace high-interest existing debts to lower overall financing costs and optimize the financing structure, aligning with the company's strategic interests [3]. Cumulative Guarantee Data - As of September 25, 2025, the total external guarantees provided by the company and its subsidiaries amount to 11.103 billion yuan, with 10.102 billion yuan specifically for subsidiaries [3]. - The actual guarantee balance as of August 31, 2025, is 4.731 billion yuan for the company and 4.400 billion yuan for its subsidiaries, representing 41.21% and 38.33% of the company's audited net assets for 2024, respectively [3]. - The company has no overdue guarantees and has not provided guarantees to its largest shareholder or related parties [3].