GRANDJOY(SZ:000031) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-12-23 06:48Core Viewpoint - The company continues to provide guarantees for its subsidiary, Meishan Jiayue, in relation to loans taken for the development of the Meishan California Smart City project, reflecting ongoing financial support and commitment to project development [1][2][3]. Group 1: Guarantee and Loan Details - Meishan Jiayue applied for a loan of 37.6 million yuan from Agricultural Bank of China in 2022, with the company providing a joint liability guarantee based on a 36.4% indirect shareholding [1]. - Recently, a loan extension agreement was signed for the remaining principal of 25.308 million yuan, with the company continuing to provide the guarantee [1]. - In 2020, Meishan Jiayue also secured a loan of 37 million yuan, with a loan extension agreement signed in 2024 for 17.5 million yuan, and the company provided a guarantee for this as well [2]. - A loan of 40 million yuan was taken in 2021, with a subsequent extension for 23.613 million yuan in 2025, and the company maintained its guarantee obligations [3]. Group 2: Financial Status of Meishan Jiayue - As of December 31, 2024, Meishan Jiayue reported total assets of approximately 2.26 billion yuan and total liabilities of about 1.69 billion yuan, resulting in a net asset value of approximately 571.68 million yuan [5]. - For the year 2024, the company recorded an operating income of approximately 58 million yuan, but reported a net loss of about 26.88 million yuan [5]. - By November 30, 2025, the total assets were approximately 2.13 billion yuan, with total liabilities of about 1.74 billion yuan, and a net asset value of approximately 392.34 million yuan [5]. Group 3: Guarantee Usage and Company Opinion - The company has a total guarantee balance of approximately 15.26 billion yuan, which is 144.03% of the net assets as of December 31, 2024 [7]. - The company believes that the guarantees provided are in compliance with relevant laws and do not harm the interests of the company or its shareholders [6]. - There are no overdue guarantees or guarantees involved in litigation as of the latest report [8].