关于为子公司提供担保的进展公告

Core Viewpoint - The company, Jiangsu Meiside Chemical Co., Ltd., has provided a guarantee for its subsidiary, Meiside (Jilin) New Materials Co., Ltd., to secure a total credit line of RMB 50 million from two branches of China Merchants Bank [1][2]. Group 1: Guarantee Details - The company signed an irrevocable maximum guarantee agreement with China Merchants Bank, covering a total credit line of RMB 50 million for its subsidiary [1]. - The guarantee is a joint liability guarantee, meaning the company will be responsible for the subsidiary's debts if necessary [5]. - The guarantee period extends from the effective date of the guarantee until three years after the maturity of any loans or financing under the credit agreement [6][7]. Group 2: Internal Decision-Making Process - The board of directors and the supervisory board approved the guarantee proposal during meetings held on April 24, 2025, and the annual shareholders' meeting on May 16, 2025 [2]. - The company has previously disclosed the approval of a guarantee for a credit line of up to RMB 300 million for the subsidiary [2]. Group 3: Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary for the subsidiary's daily operations and is based on a comprehensive assessment of the subsidiary's asset quality, operational status, industry outlook, debt repayment ability, and credit status [8]. - The company maintains full control over the subsidiary, which mitigates the risks associated with providing the guarantee [8]. Group 4: Board of Directors' Opinion - The board believes that the guarantee will facilitate efficient fundraising for the subsidiary, enhancing economic benefits without harming the interests of the company and its shareholders, particularly minority shareholders [9]. Group 5: Cumulative Guarantee Situation - As of the announcement date, the total guarantees provided by the company to its subsidiaries amount to RMB 30.2351 million, representing 2.03% of the company's latest audited net assets [10]. - The company has no overdue guarantees and does not provide guarantees to entities outside the consolidated financial statements [10].