Core Viewpoint - The company has approved external guarantee limits for its subsidiary, Jiangsu Central New Asia Department Store Co., Ltd. (New Asia Department Store), for the years 2025 and 2026, with specific amounts and terms outlined for the guarantees [1][2]. Group 1: Guarantee Approval - On October 29, 2024, the company's board approved a maximum guarantee amount of 460 million yuan for New Asia Department Store, valid for one year until December 31, 2025 [1]. - On February 24, 2025, the board approved an additional guarantee of 60 million yuan from Siyang Yurun Central Shopping Plaza Co., Ltd. for New Asia Department Store, also valid for one year until December 31, 2025 [1]. - On October 28, 2025, the board approved the same guarantee amounts for the year 2026, maintaining the same terms [2]. Group 2: Guarantee Progress - As of the announcement date, the company and Siyang Yurun have provided a guarantee of 53.4 million yuan for New Asia Department Store's working capital loan from Minsheng Bank [3]. - The total cumulative guarantee amount provided by the company for New Asia Department Store is 448.9 million yuan, which is within the approved limits [2][3]. Group 3: Necessity and Reasonableness of Guarantees - The company believes that providing guarantees for its subsidiary is beneficial for resource sharing within the group, supporting the subsidiary's operations and stability [5]. - The cumulative external guarantee amount as of October 31, 2025, is 1.7013 billion yuan, representing 71.11% of the company's latest audited net assets [5].

Core Points - The company establishes a comprehensive external guarantee system to strengthen internal control, standardize guarantee behavior, reduce operational risks, and protect the rights and interests of the company, shareholders, and other stakeholders [1][2][3] Group 1: General Principles - The external guarantee refers to the company providing guarantees, mortgages, or pledges on behalf of others, including but not limited to loan guarantees, bank letters of credit, and commercial acceptance bills [1] - The company and its subsidiaries must manage external guarantees uniformly, requiring approval from the board of directors or shareholders' meeting before providing any guarantees [1][2] Group 2: Guarantee Conditions and Procedures - The company must adhere to principles of equality, voluntariness, fairness, integrity, mutual benefit, and safety when implementing guarantees, and must refuse any coercive guarantee requests [2] - Before deciding on a guarantee, the company must assess the credit status of the guaranteed party and analyze the benefits and risks associated with the guarantee [2][3] Group 3: Approval Process - Guarantees exceeding 10% of the company's latest audited net assets or total guarantees exceeding 50% of the latest audited net assets require approval from the shareholders' meeting [6][7] - The board of directors must conduct thorough investigations into the credit and operational status of the guaranteed party before approving any guarantees [5][6] Group 4: Contractual Obligations - A written guarantee contract must be established after approval, detailing the creditor, debtor, type and amount of the main debt, and the obligations of all parties involved [8][9] - The finance department is responsible for monitoring the guarantee contracts and ensuring compliance with internal management regulations [10][11] Group 5: Risk Management - The company must monitor the operational and financial changes of the guaranteed party and take proactive measures to mitigate risks [22][23] - In case of any signs of default from the guaranteed party, the finance department must analyze the situation and report to the board of directors for necessary actions [27][28] Group 6: Information Disclosure - The company must disclose approved external guarantees on the Shenzhen Stock Exchange and other media, including total guarantee amounts and their proportions relative to the latest audited net assets [34][35] - Any significant changes in the status of the guaranteed party, such as bankruptcy or failure to meet repayment obligations, must be reported promptly [38][39]