Palm(SZ:002431) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2026-02-05 22:42Core Viewpoint - The company has approved a resolution to provide a financial guarantee for a project company, ensuring the repayment of a trust loan principal of approximately 282.77 million yuan and its interest, as part of a strategy to mitigate risks associated with a public-private partnership (PPP) project [1][2][24]. Group 1: Board Meeting and Resolution - The company's board meeting was held on February 5, 2026, with all nine directors present, and the resolution to provide the financial guarantee was passed unanimously [1][9]. - The resolution includes the authorization for the company's legal representative to sign relevant agreements related to the guarantee [2][24]. Group 2: Guarantee Details - The company will assume the obligation to cover the difference for the trust loan principal of 282,771,306.71 yuan and the associated interest for the project company, Jishou Zongji Engineering Construction Project Management Co., Ltd. [2][8]. - The project company will provide all rights and receivables from the Jishou PPP project as a second-ranking pledge guarantee [2][24]. Group 3: Project Company Information - Jishou Zongji is a limited liability company in which the company holds a 90% stake, and it is responsible for implementing the "Jishou City National and Provincial Garden City Landscaping Construction Phase II PPP Project" [8][12]. - The project company has been operational since the completion of the project in July 2019, but has faced challenges in timely repayment of loans due to delays in government payments [17][24]. Group 4: Financial Context - The company has a total external guarantee obligation of 156,770.81 million yuan, which represents 94.53% of its audited net assets as of December 31, 2024 [6][25]. - The project company has not been classified as a dishonest executor, indicating a stable credit status [14].