久盛电气股份有限公司关于公司为子公司提供担保的进展公告

Summary of Key Points Core Viewpoint - The company, Jiusheng Electric Co., Ltd., has announced the provision of guarantees for its subsidiary, Zhejiang Jiusheng Cross-Linked Cable Co., Ltd., to support its financing needs, with a total guarantee amount not exceeding RMB 200 million [2][13]. Group 1: Guarantee Overview - The company approved a financing guarantee limit of up to RMB 200 million for its subsidiaries during the 2024 annual shareholders' meeting, which is valid until the next annual meeting in 2025 [2]. - The chairman and authorized personnel are empowered to manage specific matters within the approved guarantee limit based on actual operational needs [2]. Group 2: Guarantee Progress - The company has signed guarantee contracts with Zhejiang Lanxi Rural Commercial Bank for two amounts: RMB 4,250,000 and RMB 5,750,000, providing joint liability guarantees for the subsidiary's bank acceptance bill agreements [3][4]. - The guarantees are within the approved limit and have undergone the necessary internal approval processes [4]. Group 3: Subsidiary Information - Zhejiang Jiusheng Cross-Linked Cable Co., Ltd. has a registered capital of RMB 160 million and was established on August 26, 1994 [5]. - As of December 31, 2024, the subsidiary reported total assets of RMB 373.18 million, total liabilities of RMB 285.87 million, and a net asset of RMB 87.31 million, with an operating income of RMB 400.98 million and a net loss of RMB 1.06 million for the year [6]. Group 4: Guarantee Agreement Details - The guarantee contracts specify that the guarantee is a joint liability guarantee, covering all creditor rights arising from the contracts, including principal, interest, penalties, and related costs [9][11]. - The guarantee period is three years from the expiration of the contract debt performance period [10][12]. Group 5: Impact on the Company - The guarantees are intended to meet the operational funding needs of the subsidiary, with manageable risks, and the subsidiary's good credit status indicates its ability to repay debts without harming the interests of the company or its shareholders [13].