康佳集团股份有限公司关于对参股公司提供股东借款逾期的公告

Overview - The announcement discusses the overdue shareholder loan provided by the company to its associate, Dongguan Guankang Yuhong Investment Co., Ltd. (hereinafter referred to as "Guankang Yuhong") [2][5] Company Background - Guankang Yuhong is a company in which the company holds a 49% stake, while Shenzhen Yuhong Rongji Investment Co., Ltd. holds 51% [2] - Guankang Yuhong was established in June 2019 with a registered capital of 100 million yuan and is responsible for the Dongguan Kangjia Electronics Co., Ltd. old factory area renovation project [2][7] - The company provided a total of 400 million yuan in shareholder loans to Guankang Yuhong to facilitate the payment for the renovation project [2][3] Loan Details - The company transferred 51% of Guankang Yuhong's shares to Yuhong Rongji in September 2020, recovering 204 million yuan of the shareholder loan while the remaining 196 million yuan continued to exist with a loan term of no more than three years at an annual interest rate of 8% [3] - The company has extended the loan twice, with the latest extension allowing for a loan of up to 196 million yuan at an annual interest rate of 5% [4] Overdue Situation - Guankang Yuhong has been unable to repay the principal and interest of the shareholder loan amounting to 196 million yuan due to insufficient funds, leading to overdue payments [5][8] Company Measures - The company has issued a payment reminder to Guankang Yuhong and plans to increase collection efforts, including potential legal actions to protect its rights [9] - A special task force has been established to oversee Guankang Yuhong's operations and financial management, including optimizing project costs [9] - The company is pushing Guankang Yuhong to expedite the renovation project and has agreed to lease out existing properties to generate rental income to cover the overdue loan [9] Impact on the Company - The overdue loan situation may pose risks to the company's ability to recover the full amount of the loan and interest due to market fluctuations and policy adjustments [10] - However, the overdue situation is not expected to affect the company's normal operations [10]