VVFB(SH:600300) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-11-03 23:27Core Points - The company has signed a guarantee contract with Ping An Bank Nanjing Branch, providing a maximum guarantee of 100 million RMB for its wholly-owned subsidiary, Wewei International Trade, with a guarantee period lasting three years after the debt performance period ends [1][2] - The company’s board approved a guarantee limit of up to 1.45 billion RMB for the fiscal year 2025 during the annual shareholders' meeting held on May 9, 2025 [2][6] - The guarantee is intended to support the normal operations of the subsidiary, improve financing efficiency, and reduce financing costs, aligning with the company's overall interests [5] Guarantee Details - The guarantee is a joint liability guarantee covering all debts of the debtor, including principal, interest, penalties, and other related costs [2][4] - The guarantee period is defined as starting from the contract's effective date until three years after the debt performance period of the main contract ends [4] - The company has a total external guarantee amount of 461 million RMB, which accounts for 13.22% of the latest audited net assets [7] Decision-Making Process - The board of directors held a meeting on April 17, 2025, to approve the guarantee limit for the fiscal year 2025 [6] - The guarantee does not require further approval from the board or shareholders as it falls within the previously approved limit [2] Financial Health - The subsidiary's operational stability and good credit status allow the company to effectively control risks associated with the guarantee [5] - There are no overdue guarantees, and the company has not provided guarantees to controlling shareholders or related parties [7]