Core Viewpoint - The company has announced a series of guarantees for its wholly-owned subsidiaries to support their operational needs, with a total guarantee amount not exceeding RMB 18.10 billion, which is within the approved limits from the annual shareholders' meeting [4][10]. Group 1: Guarantee Overview - The company signed cooperation agreements with China Construction Bank and Guoxin Central Enterprise Financial Services to provide supply chain financial services to its subsidiaries [2][8]. - A total of four financial instruments, including "e信通" and "企票通," have been established for payment to third parties, with a total guarantee amount of up to RMB 78.66 million [8]. - The guarantees are structured as general responsibility guarantees with a term of six months [5][8]. Group 2: Subsidiary Information - The subsidiaries involved in the guarantees are China Energy Conservation Wind Power (Guangxi) Co., Ltd., China Energy Conservation (Zhangye) Wind Power Co., Ltd., and China Energy Conservation (Subei) Wind Power Co., Ltd. [7]. - These subsidiaries are considered to have good credit status and repayment capabilities, justifying the need for the guarantees [9][10]. Group 3: Internal Decision-Making Process - The board of directors approved the new guarantee limits during meetings held on March 26, 2025, and April 21, 2025, allowing for a total guarantee amount not exceeding RMB 18.10 billion [4]. - The guarantees are within the previously approved limits and do not require additional board or shareholder approval [4]. Group 4: Cumulative Guarantee Status - As of the announcement date, the cumulative external guarantee balance of the company and its subsidiaries is RMB 817.65 million, which accounts for 4.46% of the company's audited net assets [11]. - There are no overdue guarantees or guarantees involved in litigation [11].

Core Insights - China Guoxin is enhancing its core functions as a state-owned capital operation company, focusing on supporting national strategies through diversified investment tools and financial services [1][6][7] Investment Strategy - Guoxin Fund has invested over 59 billion yuan in strategic emerging industries, achieving full coverage of nine strategic emerging industries and over 220 projects [2][3] - The fund emphasizes early, small, hard, and long-term investments, targeting original technology sources and supporting the development of a modern industrial system [2][3] Capital Deployment - Guoxin Investment has adopted a concentrated investment model, focusing on strategic emerging industries, with over 40 billion yuan allocated to key central enterprises [3][4] - The investment in strategic emerging industries accounts for nearly 80% of Guoxin Investment's total investments, enhancing state capital's control in critical sectors [3] Financial Services - Guoxin Securities has developed a specialized service model for central enterprises, covering 55 enterprises and maintaining a financing scale of over 30% of its total service [5] - The company is actively involved in issuing bonds and supporting green and technology innovation bonds, contributing significantly to the capital market [7] Ecosystem Development - Guoxin is building a "technology-industry-finance" cycle, enhancing the multiplier effect of state capital on the industrial chain [4][6] - The company is innovating in health and data services, developing platforms for drug traceability and digital identity verification [6] Strategic Partnerships - Guoxin Development has invested over 140 billion yuan to support 29 central enterprises, focusing on strategic projects and innovative investment patterns [4] - The company collaborates with local governments to establish funds targeting early-stage hard technology projects [2][4]