Core Viewpoint - The company, Zhongying Shengda Financing Guarantee, has entered into a shareholder change agreement, resulting in Guangdong Yuetai transferring its entire stake in Guangdong Zhongying Shengda Financing Guarantee to Guangdong Re Guarantee, increasing the latter's shareholding from 2.5% to 10% [1] Group 1 - The shareholder change agreement includes granting Guangdong Re Guarantee a put option, allowing it to sell its entire stake if the performance of Guangdong Zhongying Shengda Financing Guarantee does not meet the "excellent" level as per the evaluation criteria set by the Guangdong Provincial Finance Department for five consecutive fiscal years [1] - If the annual profit allocated to Guangdong Re Guarantee falls below RMB 81.12 million, the company will provide a guaranteed return, subject to certain terms and conditions [1] - The company anticipates that the performance of Guangdong Zhongying Shengda Financing Guarantee will reach the "excellent" level within one or more fiscal years due to the strong encouragement from government authorities for financing guarantee businesses [2] Group 2 - The profit exceeding RMB 81.12 million will be distributed only between the company and Foshan High-tech, aligning with the company's and its shareholders' overall interests [2] - The arrangements for guaranteed returns and profit distribution are designed to maximize the investment returns for the company [2]

Overview - The company has approved a financing guarantee business for its subsidiary, Guangzhou Wangshang Financing Guarantee Co., Ltd., with a maximum guarantee amount of RMB 800 million [1][2][3] Guarantee Details - The company will provide a joint liability guarantee for the subsidiary's financing activities with Beijing Zhongguancun Bank, with the initial guarantee amount set at RMB 500 million, later increased to RMB 800 million [1][2] - The cooperation period has been extended to June 30, 2026, with the total guarantee amount not exceeding RMB 800 million [1][2] Financial Capacity - The company has a total guarantee capacity of up to RMB 3.41 billion for its subsidiaries in 2025, with specific limits based on the subsidiaries' debt-to-asset ratios [2][3] - The remaining unused guarantee capacity after this transaction will be RMB 850 million [3] Subsidiary Information - Guangzhou Wangshang Financing Guarantee Co., Ltd. is a wholly-owned subsidiary of the company, established on November 24, 2020, with a registered capital of RMB 180 million [4][5] - The subsidiary's total assets are RMB 212.44 million, with total liabilities of RMB 77.81 million, resulting in a net asset value of RMB 134.62 million [5] Guarantee Agreement - The guarantee includes a maximum principal amount of RMB 800 million, covering all loan principal, overdue interest, penalties, and related costs [6] - The guarantee will be effective upon signing by authorized representatives and will last for three years from the debt performance deadline [6] Board's Opinion - The board believes that providing this guarantee is essential for the subsidiary's operational needs and aligns with the company's strategy to upgrade its financial technology business [6][7] - The board asserts that the risks associated with this guarantee are manageable and will not adversely affect the company's operational capabilities or investor interests [6][7] Cumulative Guarantee Situation - As of June 30, 2025, the actual guarantee balance of the company and its subsidiaries is RMB 1.14 billion, representing 16.63% of the latest audited net assets [7] - The total effective guarantee amount after the board's approval is RMB 3.50 billion, which is 51.06% of the company's latest audited net assets [7]