上海凤凰企业（集团）股份有限公司关于为全资子公司凤凰自行车提供担保的进展公告

Core Viewpoint - The company Shanghai Phoenix is providing a guarantee of RMB 32.23503 million for its wholly-owned subsidiary, Shanghai Phoenix Bicycle, in relation to a bank acceptance bill application of RMB 35.8167 million, with a total external guarantee balance of RMB 702 million as of the announcement date [2][12]. Group 1: Guarantee Overview - The guarantee is for a bank acceptance bill application by Shanghai Phoenix Bicycle to Shanghai Rural Commercial Bank, with the company signing a guarantee contract to provide joint liability [4][10]. - The guarantee amount is RMB 32.23503 million, with no counter-guarantee provided [3][11]. - The company has not experienced any overdue guarantees [3][13]. Group 2: Internal Decision-Making Process - The company’s board of directors approved the guarantee and comprehensive credit plan during meetings held on April 28, 2025, and May 22, 2025, allowing for a total guarantee limit of up to RMB 950 million [5][6]. - The authorization for the credit and guarantee plan is valid until the next annual shareholders' meeting in 2025 [5]. Group 3: Subsidiary Information - Shanghai Phoenix Bicycle was established on November 16, 2006, with a registered capital of RMB 62.7451 million [7][8]. - The company specializes in manufacturing bicycles, electric bicycles, and related products, and has a debt-to-asset ratio not exceeding 70% [9][12]. Group 4: Guarantee Agreement Details - The guarantee covers the principal debt, interest, penalties, and other costs associated with the bank acceptance bill [11]. - The guarantee period is three years from the debt fulfillment date or from the date of any advance payment made by the creditor [11]. Group 5: Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary for the subsidiary's daily operations, facilitating efficient capital procurement and operational cost reduction [12]. - The company maintains control over the subsidiary's operations and financial status, mitigating potential guarantee risks [12].