FENGYUAN(SZ:002805) Shang Hai Zheng Quan Bao·2025-12-12 20:34Core Viewpoint - The company, Shandong Fengyuan Chemical Co., Ltd., has announced significant external guarantees amounting to 311,950 million RMB, which represents 182.48% of its latest audited net assets, raising concerns about financial risk exposure [2][22]. Summary by Sections 1. Overview of Guarantees - The company approved a total external guarantee limit of up to 650,000 million RMB for its subsidiaries, with specific allocations for those with asset-liability ratios below and above 70% [3]. 2. Progress of Guarantees - Recent agreements were signed with Qingdao Bank Zaozhuang Branch, providing guarantees of 5,000 million RMB for Fengyuan Lithium Energy and 1,000 million RMB each for Fengyuan Fine Materials and Fengyuan Huineng [4]. 3. Basic Information of Guaranteed Entities - Fengyuan Lithium Energy, a wholly-owned subsidiary, has a registered capital of 122,400 million RMB and operates in electronic materials manufacturing [5][6]. - Fengyuan Fine Materials, also a wholly-owned subsidiary, has a registered capital of 4,000 million RMB and engages in the production and sales of refined oxalic acid and related products [7]. - Fengyuan Huineng, a holding subsidiary, has a registered capital of 64,080 million RMB and focuses on electronic materials and new material technology [8]. 4. Main Content of Guarantee Agreements - The guarantees cover principal debts, interest, penalties, and all costs incurred by the creditor in enforcing the debt, with a guarantee period of three years from the debt fulfillment deadline [10][19].