CHERVON-AUTO(SH:603982) Shang Hai Zheng Quan Bao·2025-12-17 18:34Core Viewpoint - The company, Nanjing QuanFeng Automotive Precision Technology Co., Ltd., has announced a guarantee for its wholly-owned subsidiary, QuanFeng Anhui, to support its operational needs, with a maximum debt guarantee amounting to RMB 60 million [2][5]. Group 1: Guarantee Details - The company signed a guarantee contract with Bank of Communications Jiangsu Branch on December 17, 2025, to provide a joint liability guarantee for QuanFeng Anhui [2][4]. - The maximum debt amount guaranteed is RMB 60 million, which falls within the previously approved guarantee limits of up to EUR 100 million and RMB 2.5 billion for the fiscal year 2026 [3][10]. - The guarantee is structured as a joint liability guarantee, covering all principal debts, interest, penalties, and costs associated with the enforcement of the debt [8]. Group 2: Internal Decision-Making Process - The company held its 34th board meeting on November 24, 2025, and the third extraordinary shareholders' meeting on December 10, 2025, to approve the guarantee limits for the upcoming fiscal year [3][10]. - The decision to provide the guarantee was made to ensure the smooth operation and business development of the subsidiary, aligning with the company's overall interests and strategic goals [9]. Group 3: Current Guarantee Status - As of December 17, 2025, the total guarantees provided by the company to its subsidiaries amount to RMB 2.5 billion and EUR 100 million, which represents approximately 179.69% of the company's latest audited net assets [11]. - The actual guarantees provided amount to RMB 713.84 million and EUR 29.21 million, totaling approximately RMB 955.69 million, with no overdue guarantees or litigation-related guarantees reported [11].