Summary of Key Points Core Viewpoint - The company has provided a guarantee of up to RMB 65 million for its subsidiary, Guangzhou Nansha Hongda Storage Co., Ltd., and has issued an irrevocable guarantee letter to a bank for a financing amount of RMB 75 million, with a total guarantee amount of RMB 52.5 million [1][2]. Guarantee Overview - The company approved a guarantee for its subsidiary on March 21, 2025, with a total limit of RMB 65 million [1]. - The actual guarantee amount for the subsidiary after this transaction is RMB 52.5 million, leaving a remaining approved guarantee limit of RMB 12.5 million [2]. Subsidiary Information - Guangzhou Nansha Hongda Storage Co., Ltd. was established on May 17, 2004, with a registered capital of RMB 647.43 million [3]. - The company holds a 70% stake in the subsidiary, while Guangzhou Yuanheng Energy Co., Ltd. holds 30% [3]. - As of December 31, 2024, the subsidiary had total assets of RMB 1.29 billion and a net asset of -RMB 25.94 million [3]. Financial Performance - For the year 2024, the subsidiary reported revenue of RMB 291.71 million and a net profit of RMB 31.35 million [3]. - As of March 31, 2025, the subsidiary's total assets were RMB 1.27 billion, with a net asset of -RMB 15.10 million, and revenue for the first quarter was RMB 65.30 million with a net profit of RMB 10.72 million [3]. Guarantee Agreement Details - The irrevocable guarantee letter covers various financial obligations including loans, interest, penalties, and related costs incurred by the bank [4]. - The guarantee period extends three years beyond the debt maturity date or the date of any advance made by the bank [4]. Cumulative Guarantee Information - As of the announcement date, the total external guarantee amount, including this new guarantee, is 7.38% of the company's net assets as of December 31, 2024 [5]. - The company has no overdue guarantees or guarantees related to litigation [5].