GGEC(SZ:002045) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-11-22 02:06Overview of Guarantee Situation - The company has approved a guarantee for its wholly-owned subsidiary, Guoguang Electric (Vietnam) Co., Ltd., with a total guarantee amount of RMB 282 million, valid until the next shareholders' meeting [3] - The guarantee is within the limit approved at the 2024 annual shareholders' meeting [2] Financial Status of Guoguang Electric (Vietnam) - As of December 31, 2024, Guoguang Electric (Vietnam) had total assets of RMB 1,029.72 million and an equity of RMB 184.42 million, with a debt ratio of 82.09% [4] - As of September 30, 2025, total assets increased to RMB 1,300.67 million, equity decreased to RMB 171.20 million, and the debt ratio rose to 86.84% [4] - The revenue for 2024 was RMB 1,187.41 million, with a net profit of RMB 14.27 million, while for the first nine months of 2025, revenue was RMB 1,177.56 million, resulting in a net loss of RMB 642.88 million [4] Guarantee Contract Details - The company signed a guarantee letter on November 20, 2025, to provide an unconditional and irrevocable guarantee to BIDV Quang Nam for a credit limit not exceeding USD 20 million [7] - The guarantee obligations include all payments due under the credit contract, including principal, interest, fees, and other financial obligations [7] Current Guarantee Status - As of the announcement date, the total guarantee amount for the company and its subsidiaries is RMB 282 million, with a total signed guarantee balance of RMB 184.67 million, representing 43.18% of the company's latest audited net assets [8] - There are no overdue debts or litigation-related guarantees as of the announcement date [8]