Summary of Key Points Core Viewpoint - The company, Guangdong Hongchuan Smart Logistics Co., Ltd., has approved a guarantee for its subsidiaries to apply for futures designated delivery warehouse qualifications, which is expected to benefit the company's storage business and align with the interests of all shareholders [1][4]. Group 1: Guarantee Overview - The company will provide full joint liability guarantees for its subsidiaries, Changzhou Hongchuan Petrochemical Storage Co., Ltd. and Dongguan Sanjiang Port Storage Co., Ltd., in their application to the Zhengzhou Commodity Exchange [1][4]. - The guarantee amount is not specified, but the total approved guarantee amount for the company and its subsidiaries is 587,729.60 million yuan, which accounts for 224.41% of the latest audited net assets [1][4]. Group 2: Subsidiary Information - Changzhou Hongchuan was established on July 3, 2009, with a registered capital of 350 million yuan. As of March 31, 2025, it reported total assets of 95,031.26 million yuan and net assets of 48,274.61 million yuan [1]. - Dongguan Sanjiang was established on April 22, 2004, with a registered capital of 1,200 million USD. As of March 31, 2025, it reported total assets of 89,784.07 million yuan and net assets of 39,178.79 million yuan [2][3]. Group 3: Board of Directors' Opinion - The board believes that the guarantee will facilitate the subsidiaries in obtaining the necessary qualifications for futures designated delivery warehouses, thus supporting the company's storage business [4]. - The company maintains effective control over the subsidiaries, and the risks associated with the guarantee are considered manageable, with no adverse impact expected on the company's operations [4].