Summary of Key Points Core Viewpoint - The company, Hangzhou Hongquan Internet of Things Technology Co., Ltd., is providing a guarantee for its subsidiary, Dingdong Zhitu Information Technology Co., Ltd., to secure a loan of RMB 10 million from Ningbo Bank, which is aimed at supporting the subsidiary's business development needs [1][5]. Group 1: Guarantee Details - The company will provide a maximum joint liability guarantee for a loan of RMB 10 million to Dingdong Zhitu, with a guarantee period of two years from the maturity of the debtor's obligations [1][5]. - The guarantee is part of a broader authorization allowing the company to provide guarantees up to RMB 30 million for its subsidiaries, which includes various forms of guarantees such as pledges and mortgages [2]. Group 2: Decision-Making Process - The decision to provide the guarantee was approved during the board meeting on April 28, 2025, and subsequently ratified at the annual shareholders' meeting on May 20, 2025, with unanimous support from the board [2][6]. - The company holds an 81.28% controlling interest in Dingdong Zhitu, indicating that the risks associated with the guarantee are manageable and will not adversely affect the interests of the company and its shareholders [5][6]. Group 3: Financial Position and Risk Assessment - As of the announcement date, the total amount of guarantees provided by the company to its subsidiaries is RMB 0, indicating no prior guarantees have been issued, which reflects a strong financial position [7]. - There are no overdue guarantees or any guarantees involved in litigation, further supporting the company's stable financial standing [7].