Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2026-01-28 23:18Summary of Key Points Core Viewpoint - The company, Jiangsu Yabang Dyeing Co., Ltd., through its wholly-owned subsidiary, Jiangsu Yabang Hual Dye Co., Ltd., has entered into a comprehensive credit agreement with Jiangsu Bank Lianyungang Branch for a maximum credit limit of 9.5 million RMB to support its operational needs [1][2]. Group 1: Guarantee and Counter-Guarantee Overview - Jiangsu Yabang Hual has signed a contract with Lianyungang Geshida Financing Guarantee Co., Ltd. to provide a joint liability guarantee for the aforementioned credit limit of 9.5 million RMB [1][2]. - The company has provided a real estate property of 3,987.95 square meters as collateral for the counter-guarantee [2]. Group 2: Internal Decision-Making Process - The board of directors approved the provision of guarantees for consolidated entities with a total limit not exceeding 1 billion RMB, with specific limits based on the debt-to-asset ratio [2]. - As of the announcement date, the company has utilized 438.5 million RMB of the approved guarantee amount, with 428.5 million RMB for entities with a debt-to-asset ratio below 70% and 10 million RMB for those above [2]. Group 3: Guarantee and Counter-Guarantee Contracts - The entrusted guarantee contract specifies a guarantee fee of 0.8% per annum, totaling 228,000 RMB over three years, payable in advance [4][5]. - The counter-guarantee contract outlines that the company will be liable for all amounts paid by the guarantor, including principal, interest, and other costs [6][7]. Group 4: Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary to meet the operational liquidity needs of the subsidiary, promoting its business development and improving operational efficiency [10]. - The board believes that the subsidiary's stable financial condition and debt repayment capability make the guarantee low-risk and will not adversely affect the company or its shareholders [11].