Core Insights - The world's largest skin stretching machine has recently passed inspection, marking a significant breakthrough in China's localization process in aviation manufacturing, high-speed rail, and advanced construction sectors [1] - This equipment innovatively applies aerospace technology to the construction field, achieving "one-click forming" through digital modeling, with a forming precision of 0.1 millimeters, surpassing traditional equipment levels [1] - The technology fills a critical gap in aviation manufacturing and positions China as the first country to master "dual-mode forming" technology, injecting new momentum into the high-end equipment manufacturing industry's high-quality development [1] Industry Impact - The successful implementation of this machine signifies a shift from "catching up" to "leading" in the aircraft skin forming sector for China [1] - The equipment, along with its supporting multi-point forming devices, has reached a world-leading level, indicating a strong competitive edge in the global market [1] - The advancement in digital technology and precision manufacturing is expected to enhance the overall quality and efficiency of high-end equipment manufacturing in China [1]

Summary of Key Points Core Viewpoint - Shanghai Electric Group Co., Ltd. plans to provide a guarantee of €300 million (approximately RMB 2.7 billion) for its wholly-owned subsidiary Broetje-Automation GmbH and its wholly-owned subsidiaries to support their operations and meet the requirements of Airbus SAS [1][5]. Group 1: Guarantee Details - The guarantee amount is €300 million, effective until September 1, 2031, with a maximum duration of 74 months [1][5]. - The guarantee is contingent upon the approval of the company's shareholders and the transfer of 100% equity of Broetje-Automation to Shanghai Electric Automation Group Hong Kong Limited [1][5]. - There is no counter-guarantee involved in this transaction [1][5]. Group 2: Financial Metrics - As of the announcement date, the total amount of external guarantees provided by the company and its subsidiaries is RMB 1,013,293.5 million, which accounts for 19.1% of the company's latest audited net assets [6]. - The debt-to-asset ratio of Broetje-Automation exceeds 70%, necessitating shareholder approval for the guarantee [2][4]. Group 3: Rationale for the Guarantee - The board of directors believes that the guarantee is necessary to meet Airbus's requirements for strategic suppliers, as Airbus is a significant customer of Broetje-Automation [5]. - The past cooperation between Broetje-Automation and Airbus has been positive, reinforcing the rationale for the guarantee [5].