Core Viewpoint - The company has provided guarantees for its wholly-owned subsidiaries to support their construction and operational needs, specifically for the projects at Xiejiaogou and Xiangyangshan mining companies [2][9][21]. Group 1: Guarantee Details - The company signed two guarantee contracts with Ping An Bank on August 25, 2025, each for an amount of 10 million RMB for Xiejiaogou Mining and Xiangyangshan Mining [2][5]. - The guarantees are for a period of three years, covering all debts arising from business transactions between the creditor and the debtors during the specified period [6][8]. - The total estimated guarantee amount provided by the company for its subsidiaries is 1.6 billion RMB, with a cumulative guarantee balance of 236 million RMB, which represents 7.25% of the company's audited net assets as of the first half of 2025 [11][21]. Group 2: Internal Decision-Making Process - The company’s board of directors approved the guarantee proposal during a meeting on March 9, 2025, and the related resolutions were confirmed at the annual shareholders' meeting on April 18, 2025 [3][10][21]. - The guarantees provided are within the authorized scope and do not require additional approval from the board or shareholders [17][21]. Group 3: Necessity and Reasonableness of the Guarantee - The guarantees are deemed necessary and reasonable to meet the significant funding needs for the construction of the Jianglu mining area integration project, as the subsidiaries' own funds are insufficient [9][21].