Core Points - The company has provided guarantees totaling up to RMB 1.5 billion for its subsidiaries to secure various financing needs [1][9] - The board of directors has approved the guarantee agreements, which are aimed at supporting the daily operations and business development of the company and its subsidiaries [8] Group 1: Guarantee Overview - The company’s subsidiaries have applied for credit lines from commercial banks for purposes including short-term loans, long-term loans, and other financial services [1] - As of September 30, 2025, the total approved guarantee amount is RMB 1.5 billion, with an actual utilized amount of approximately RMB 106.67 million [9] Group 2: Internal Decision-Making Process - The guarantee proposal was approved in meetings held on April 24, 2025, and subsequently ratified at the annual shareholders' meeting on May 19, 2025 [1][8] Group 3: Guarantee Agreement Details - A maximum guarantee contract was signed with Ping An Bank, ensuring the performance of obligations by Lishui Wankong Technology Co., Ltd. [3][4] - The maximum debt amount covered by the guarantee is RMB 70 million, which includes principal, interest, penalties, and other related costs [6] Group 4: Necessity and Reasonableness of the Guarantee - The guarantees are deemed necessary to enhance the financing capabilities of subsidiaries and support their main business operations [7] - The company maintains effective management over its subsidiaries, with no significant signs indicating potential liability for the guarantees provided [7] Group 5: Board of Directors' Opinion - The board unanimously agreed that the guarantees align with the company's overall interests and strategic goals, posing manageable risks [8]