Chongqing Wangbian Electric (Group) (SH:603191) Shang Hai Zheng Quan Bao·2025-12-03 19:30Core Viewpoint - The company has announced a new external guarantee of RMB 100 million for its wholly-owned subsidiary, Yunbian Electric, to support its financing needs with Shanghai Pudong Development Bank Kunming Branch [2][9]. Group 1: Guarantee Details - The company signed a "Maximum Guarantee Contract" with Shanghai Pudong Development Bank Kunming Branch on November 5, 2025, providing a joint liability guarantee for a financing agreement not exceeding RMB 100 million [2]. - The guarantee does not have any counter-guarantee and falls within the authorization scope of the company's third extraordinary general meeting in 2024, thus does not require further board or shareholder approval [2][10]. Group 2: Internal Decision-Making Process - The company’s board approved the proposal for the 2025 fiscal year to provide guarantees for its subsidiaries, including a maximum of RMB 100 million for Huize Electric and RMB 200 million for Qiannan Wangjiang Transformer [3]. - The approved guarantee limits are valid from January 1, 2025, to December 31, 2025, and have been disclosed in previous announcements [3]. Group 3: Necessity and Reasonableness of the Guarantee - The new external guarantee is deemed necessary to meet the daily operational needs of the subsidiary, ensuring smooth business activities, and aligns with the company's overall development strategy [9]. - The company maintains control over the operational activities and credit status of the subsidiary, indicating that the guarantee risks are manageable and will not adversely affect the interests of shareholders, especially minority shareholders [9]. Group 4: Cumulative Guarantee Situation - As of the end of November 2025, the company’s total external guarantees amount to RMB 1,294.74 million, with a balance of RMB 641.73 million, representing 53.65% and 26.59% of the company's latest audited net assets, respectively [11]. - There are no overdue guarantees, and the available guarantee limit for the company and its subsidiaries is RMB 450.26 million [11].