ECHOM(SZ:002420) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2026-01-07 22:59Summary of Key Points Core Viewpoint - The company has approved a total external guarantee limit of up to RMB 1.7 billion for the year 2025, which includes specific allocations based on the debt-to-asset ratio of its subsidiaries [3]. Group 1: Guarantee Overview - The company and its subsidiaries are authorized to provide guarantees for various financing activities, including loans and credit lines, with a total limit of RMB 1.7 billion [3]. - The guarantee limit is divided into RMB 1.05 billion for subsidiaries with a debt-to-asset ratio below 70% and RMB 650 million for those above 70% [3]. - The guarantees can be reused, but the total outstanding guarantees at any time cannot exceed the approved limit [3]. Group 2: Specific Guarantee Case - The company has provided a guarantee of RMB 11 million for its subsidiary, Qingdao Hengjia Precision Technology Co., Ltd., to secure a credit line from Bank of China [4][5]. - Qingdao Hengjia Precision Technology Co., Ltd. is wholly owned by the company and has a registered capital of RMB 151.38 million [5][6]. - The guarantee is valid for three years from the date of the debt's maturity, allowing the creditor to claim the guarantee for any part of the principal debt [7]. Group 3: Financial Metrics and Risk - As of the announcement date, the total guarantees provided by the company to its subsidiaries amount to RMB 387.28 million, which represents 70% of the audited net assets attributable to the shareholders of the listed company for 2024 [9]. - There are no overdue guarantees, and the subsidiaries have not provided guarantees for the parent company [9].