Core Viewpoint - The company has approved the use of idle raised funds to temporarily supplement its working capital, totaling up to RMB 16,166 million, with a usage period not exceeding 12 months from the date of board approval [5][19][50]. Group 1: Fund Usage and Approval - The company held a board meeting on June 20, 2025, where it approved the temporary use of idle raised funds amounting to RMB 16,166 million for working capital [19][28][50]. - The board's decision was made in accordance with relevant laws and regulations, ensuring no harm to the interests of the company and its shareholders [20][50][51]. - The company has previously utilized idle funds for similar purposes, with a history of timely repayments [7][11][12]. Group 2: Fundraising Background - The company raised a total of RMB 384.12 million through a non-public offering, with a net amount of RMB 377.32 million after deducting fees [6][15]. - The funds raised are intended for various projects, including brand new retail network operations and smart marketing cloud platform construction [15][16]. Group 3: Previous Fund Usage - The company has a track record of using idle funds for temporary working capital, including RMB 13 million in 2021 and RMB 8 million in 2022, all of which were repaid within the stipulated time [7][8][9][10]. - The company has consistently notified its sponsor, CITIC Securities, regarding the repayment of these funds [12][13][14].

Summary of Key Points Core Viewpoint - The company Shanghai Yashi Investment Development Co., Ltd. is providing a counter-guarantee to its controlling shareholder, Hubei International Trade Group Co., Ltd., for a loan aimed at financing the construction of the Eurasian Supply Chain Aktsu Base Project, which is expected to enhance the company's financing capabilities and reduce costs [1][5]. Group 1: Counter-Guarantee Overview - The company plans to apply for a project loan of up to RMB 140 million, with Hubei International Trade Group providing a full joint liability guarantee [1]. - The counter-guarantee provided by the company amounts to RMB 140 million, with a guarantee period of three years [2][4]. - As of the announcement date, the company has provided a total of RMB 672 million in external guarantees, which represents 60.06% of the company's audited net assets as of December 31, 2024 [6]. Group 2: Financial and Operational Context - Hubei International Trade Group has a debt-to-asset ratio exceeding 70%, which is highlighted as a risk factor for investors [1]. - The company has signed a loan agreement with the China Export-Import Bank Hubei Branch for RMB 140 million, with a loan term of nine years [2]. - The company’s financial position includes total assets of approximately RMB 1.71 billion and total liabilities of about RMB 1.34 billion, resulting in a net asset value of around RMB 370 million [3]. Group 3: Board and Shareholder Considerations - The board of directors has approved the counter-guarantee and believes it will support the company's financing needs and overall interests [5][6]. - The company will pay a guarantee fee to Hubei International Trade Group based on market rates, ensuring the transaction is fair and does not harm the interests of shareholders [5].

Group 1 - The company, Shandong Zhongrui Industrial Development Co., Ltd., has provided a guarantee exceeding 100% of its latest audited net assets, primarily for financing and business development needs of its subsidiaries [1] - The company’s wholly-owned subsidiary, Chengdu Haichuan Manufacturing Co., Ltd., has applied for a loan of 10 million yuan from Chengdu Bank, with the company providing a counter-guarantee [1][2] - The estimated counter-guarantee amount for third-party institutions is not expected to exceed 110 million yuan, which is within the approved guarantee limit [2] Group 2 - As of December 31, 2024, the guarantee company had total assets of 845.31 million yuan and a net profit of 28.79 million yuan [2] - As of March 31, 2025, the guarantee company had total assets of 849.16 million yuan and a net profit of 8.19 million yuan [3] - Chengdu Haichuan's total assets were 221.99 million yuan as of December 31, 2024, with a net profit of -2.12 million yuan for the first quarter of 2025 [3] Group 3 - The counter-guarantee covers all costs related to the loan, including principal, interest, penalties, and any legal fees incurred [4] - The board of directors believes that the financial risks associated with the counter-guarantee are manageable and will not adversely affect the company's operations or shareholder interests [4][5] - The total approved external guarantee amount is 1.3 billion yuan, with a current balance of 983 million yuan, representing 2.34% of the latest audited net assets [5]

Overview - The company is providing a maximum guarantee amount of 50.75 million yuan to support the bond issuance of its associate, Huajin Securities, through a guarantee agreement with its controlling shareholder, Zhuhai Huafa Group [1][8]. Company and Financial Data - Huajin Securities has total assets of 11.282 billion yuan and net assets of 3.759 billion yuan as of December 31, 2024 [3]. - The company reported an operating income of 1.2674 billion yuan for the year 2024 and 1.3 billion yuan for the first quarter of 2025 [3]. - Zhuhai Huafa Group, the guarantor, has total assets of 729.285 billion yuan and net assets of 172.966 billion yuan as of December 31, 2024 [4]. Guarantee Agreement Details - The guarantee agreement allows for a maximum guarantee amount not exceeding 5.075 million yuan, which is 1.45% of the total bond issuance scale [5][6]. - The guarantee period is set for two years from the date of the guarantee responsibility [6]. - The agreement will be effective upon signature and seal by the legal representatives of both parties [7]. Purpose and Impact of the Transaction - The purpose of the related transaction is to lower the financing costs for Huajin Securities, thereby supporting its stable business development [8]. - The transaction is deemed reasonable and compliant, with no harm to the interests of the company or its shareholders, particularly minority shareholders [8]. - The company plans to increase its total external guarantee amount to 500 million yuan for 2025, which will represent approximately 33.66% of its audited net assets for 2024 [8]. Related Transactions - The total amount of related transactions that have occurred with the related party since the beginning of the year is 44.0336 million yuan [9]. Independent Directors' Opinion - The independent directors unanimously agreed that the provision of the guarantee aligns with the operational needs of the associate and complies with relevant laws and regulations [9].

Group 1 - The company guarantees the authenticity, accuracy, and completeness of the information disclosed in its quarterly report, and assumes legal responsibility for any false records or misleading statements [2][7][28] - The first quarter report for 2025 has not been audited [6][28] - The company plans to engage in daily related transactions with associated parties, with estimated amounts for various transactions not exceeding 30 million yuan for certain transactions and 8 million yuan for others [8][9][19] Group 2 - The company intends to provide a counter-guarantee for its subsidiary's financing, with a maximum counter-guarantee amount of 1.275 billion yuan based on a financing limit of 2.5 billion yuan [29][30] - The counter-guarantee is expected to be effective from the date of approval at the annual general meeting until the next annual general meeting [31][32] - The company has no overdue guarantees or litigation-related guarantees as of the announcement date [37][38] Group 3 - The company primarily engages in high-end equipment manufacturing and high-end materials business, serving industries such as nuclear power, hydropower, wind power, petrochemicals, metallurgy, and national defense [45] - The company’s main products include nuclear power main pipelines, reactor coolant pump casings, and various container forgings, which are critical for the safety and reliability of nuclear power plants [46][48][49] - The company has successfully achieved domestic production of key components previously controlled by foreign entities, enhancing its competitive position in the market [48][50]