Sou Hu Cai Jing·2026-02-06 02:29Core Viewpoint - The company, through its wholly-owned subsidiary CITIC Securities International, has issued a guarantee for a bond issuance by its indirect wholly-owned subsidiary CSCIF Hong Kong Limited, amounting to RMB 357 million, to support its overseas business operations [2][4][5]. Group 1: Guarantee Details - The total amount of the guaranteed medium-term note program is up to USD 4 billion, with the first issuance under this program completed on February 5, 2026, amounting to RMB 350 million [2]. - The guarantee provided by CITIC Securities International is unconditional and irrevocable, covering the principal, interest, and other payment obligations under the bond issuance [4][5]. - The guarantee does not have any counter-guarantee [4]. Group 2: Internal Decision-Making Process - The guarantee was approved by the company's board and shareholders during the 48th meeting of the second board and the first extraordinary general meeting of 2023 [3][6]. - The board and shareholders authorized the issuance of domestic and foreign debt financing tools and the provision of guarantees within the authorized scope [6][7]. Group 3: Necessity and Reasonableness of the Guarantee - The bond issuance aims to supplement the working capital for overseas operations, with the guaranteed entity being a wholly-owned subsidiary of the company [5]. - The guaranteed entity has a debt-to-asset ratio exceeding 70%, but the company maintains control over its debt repayment capacity through its 100% ownership [5]. Group 4: Cumulative Guarantee Situation - As of the announcement date, the total amount of guarantees provided by the company and its subsidiaries is RMB 47.338 billion, accounting for 44.46% of the company's latest audited net assets [7]. - The company has provided guarantees amounting to RMB 9.079 billion to its subsidiaries, representing 8.53% of the latest audited net assets, with no overdue guarantees reported [7].