Wellhope(SH:603609) Shang Hai Zheng Quan Bao·2025-11-07 20:34Core Viewpoint - The company has provided guarantees for its subsidiaries to facilitate financing and procurement, ensuring compliance with approved limits and internal decision-making processes [3][5][7]. Group 1: Guarantee Overview - As of October 31, 2025, the company has provided guarantees totaling RMB 231,469.26 million, which is 34.57% of the audited net assets as of December 31, 2024 [9]. - The company has provided guarantees for its subsidiaries' financing, with specific amounts including RMB 39,748.82 million for Anshan Jiuguhe Food Co., Ltd. and RMB 6,370.00 million for Jinzhou Jiufeng Food Co., Ltd. [3][9]. - The company issued a guarantee letter for RMB 600,000 for raw material procurement from Zhoukou Zhouhai Grain and Oil Industry Co., Ltd. for its subsidiary Xi'an Hefeng Feed Technology Co., Ltd. [3]. Group 2: Internal Decision-Making Process - The company held board meetings and shareholder meetings in March, August, and September 2025 to approve the guarantee limits and the specific subsidiaries involved [4][5][8]. - The approved total guarantee limit is RMB 560,000 million, with specific allocations for financing, procurement, and performance guarantees [5]. Group 3: Necessity and Reasonableness of Guarantees - The guarantees are deemed necessary and reasonable as they have been approved by the board and shareholders, and the company has a thorough understanding of the subsidiaries' financial health [7][8]. - The guarantees are intended to support the operational needs and cash flow of the subsidiaries, aligning with the company's overall development strategy [7][8]. Group 4: Financial Health of Guaranteed Entities - The guaranteed entities are all controlled subsidiaries of the company, which are not classified as dishonest executors [6]. - The financial data of the guaranteed entities can be found in the company's disclosures on the Shanghai Stock Exchange [6].