GRANDJOY(SZ:000031) Shang Hai Zheng Quan Bao·2025-11-13 18:41Summary of Key Points Core Viewpoint - The company is providing guarantees for its subsidiaries to secure loans for operational needs, indicating a strategy to support business growth and manage financial risks effectively [2][8]. Group 1: Guarantee Overview - The company’s subsidiary, Xidan Joy City Co., Ltd., plans to apply for a loan of 3.3 billion yuan from China Merchants Bank Beijing Branch for operational needs [2]. - The company’s subsidiary, COFCO Real Estate Investment Co., Ltd., will provide a pledge guarantee using its 100% equity in Xidan Joy City [2][7]. Group 2: Guarantee Usage and Financials - The guarantee is within the approved limit set by the company’s 2024 annual general meeting for the fiscal year 2025 [2][3]. - As of December 31, 2024, Xidan Joy City had total assets of 2.9 billion yuan, total liabilities of 392.17 million yuan, and net assets of 2.51 billion yuan [4]. - For the first nine months of 2025, Xidan Joy City reported total revenue of 538.81 million yuan and a net profit of 225.44 million yuan [5]. Group 3: Board Opinion and Risk Assessment - The board believes that the guarantee aligns with legal and regulatory requirements and does not harm the interests of the company or its shareholders [8]. - The company has no overdue guarantees or litigation issues related to the guarantees provided [10][20]. Group 4: Cumulative Guarantee Information - As of the completion of the guarantee, the total guarantee balance for the company and its subsidiaries is approximately 1.56 billion yuan, which is 147.29% of the net assets attributable to shareholders as of December 31, 2024 [9][19]. - The company has provided guarantees totaling approximately 1.24 billion yuan to its subsidiaries, representing 116.92% of the net assets attributable to shareholders [9][19].