Overview - The company, GCL-Poly Energy Holdings Limited, has approved a total credit limit of up to RMB 11.2 billion for the year 2025, along with guarantees for subsidiaries totaling RMB 8.87 billion [1] - The company has also approved additional guarantees for its subsidiaries, including a guarantee of up to RMB 200 million from Hefei GCL Integrated New Energy Technology Co., Ltd. to Wuhu GCL Integrated New Energy Technology Co., Ltd. [1] Guarantee Situation - The company signed a guarantee agreement with Ningbo Rail Yongying Supply Chain Co., Ltd., providing a joint liability guarantee for debts under a framework agreement for the purchase of photovoltaic module raw materials, with a maximum guarantee amount of RMB 200 million [2] - Hefei GCL Integrated New Energy Technology Co., Ltd. and Wuhu GCL Integrated New Energy Technology Co., Ltd. signed a working capital loan agreement with Huishang Bank, with a maximum guarantee amount of RMB 58 million [2] Financial Status of Guaranteed Parties - The financial data of the guaranteed parties as of March 31, 2025, shows total assets, liabilities, and net income, indicating varying financial health among the subsidiaries [3][4][5] - For example, one subsidiary reported total assets of RMB 799.35 million and a net loss of RMB 6.88 million for the first quarter of 2025 [3] Main Content of Guarantee Agreements - The guarantee agreements outline the responsibilities of the company and its subsidiaries in ensuring the payment of debts, including principal, interest, penalties, and other related costs [4][6] Cumulative Guarantee Amounts - As of the announcement date, the total guarantee amount provided by the company and its subsidiaries is RMB 36.31 billion, which is 152.35% of the company's latest audited net assets [6] - The breakdown of guarantees shows that the company has provided a guarantee balance of RMB 17.43 billion to Hefei GCL Integrated New Energy Technology Co., Ltd., which is 73.16% of the company's net assets [6]