RAYITEK(SH:688323) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-10-15 15:46Core Points - The company has signed a maximum guarantee contract with Jiangsu Bank for a credit application of up to RMB 50 million for its wholly-owned subsidiary, Jiaxing Ruihua Tai Film Technology Co., Ltd. The guarantee period lasts until three years after the debt performance period [1][4][6] - The board of directors approved a proposal to provide a guarantee of up to RMB 300 million for the credit limit of consolidated subsidiaries within 12 months from the annual general meeting [2][8] - The guarantee is deemed necessary to ensure the company's stable operations and to meet daily funding and business development needs, with manageable risk as the guaranteed party is a wholly-owned subsidiary [7][9] Guarantee Details - The creditor is Jiangsu Bank, the debtor is Jiaxing Ruihua Tai Film Technology Co., Ltd., and the guarantor is Shenzhen Ruihua Tai Film Technology Co., Ltd. The maximum guarantee amount is RMB 50 million [4][6] - The guarantee includes all principal debts, interest, penalties, and other fees related to the main contract, with the guarantor assuming responsibility for any excess due to exchange rate fluctuations [5][6] - The guarantee is a joint liability guarantee, and the creditor has the right to demand the guarantor fulfill the guarantee obligations during the guarantee period [6] Board Approval - The board meeting held on March 20, 2025, approved the proposal with a unanimous vote of 7 in favor, indicating that the guarantee aligns with the company's operational needs and development strategy [8] - The board believes that providing guarantees for wholly-owned subsidiaries does not harm the interests of the company and its shareholders [8] Cumulative Guarantee Situation - As of the announcement date, the company and its subsidiaries have not provided guarantees for third parties, with total guarantees to subsidiaries amounting to RMB 593.5 million, representing 62.93% of the latest audited net assets [9]