Core Insights - The article reports that Fugui Niao Co., Ltd. has changed its registration status from active to canceled due to bankruptcy declaration [1] - The company was established in November 1995 with a registered capital of approximately 1.34 billion RMB, focusing on the production of leather shoes, belts, bags, and other leather products [1] - The court has rejected the application from Fugui Niao's management to continue its restructuring process, leading to the company's bankruptcy [1] Company Information - Fugui Niao Co., Ltd. was co-owned by Fugui Niao Group Limited (Hong Kong), Beijing Century Tianfu Venture Capital Center (Limited Partnership), and He Xing (China) Trading Co., Ltd. [1] - The major shareholders include Fugui Niao Group Limited with a 40.87% stake and Beijing Century Tianfu with a 31.78% stake [3]

Core Viewpoint - The company has approved a guarantee of up to 1.43 billion yuan for its subsidiary, Xuzhou Xingning Leather Co., Ltd., to support its financing needs [1][4]. Summary by Sections Guarantee Overview - The company held its sixth board meeting on April 24, 2025, where it approved a proposal to provide a guarantee for its subsidiary [1]. - The total guarantee amount for the subsidiary is capped at 1.43 billion yuan, with a specific guarantee of 150 million yuan for Xuzhou Xingning Leather Co., Ltd. [1][4]. - The guarantee is valid for 12 months from the date of approval by the shareholders' meeting [1]. Subsidiary Information - Xuzhou Xingning Leather Co., Ltd. is a wholly-owned subsidiary of the company, established on June 28, 2010, with a registered capital of 75 million yuan [2]. - The company specializes in leather processing and manufacturing, including high-end leather products [2]. Financial Status of the Subsidiary - As of the 2024 fiscal year, the subsidiary reported total assets of approximately 159.17 million yuan and total liabilities of about 94.94 million yuan [3]. - The subsidiary's sales revenue for the 2024 fiscal year was approximately 175.71 million yuan, with a net loss of about 2.07 million yuan [3]. Guarantee Agreement Details - The subsidiary has been approved for a comprehensive credit line of 50 million yuan from Nanjing Bank Xuzhou Branch, which can be used for trade financing and working capital loans [4]. - The company will assume joint guarantee responsibility for this credit line [4]. Cumulative Guarantee Situation - The company has a total external guarantee amount of approximately 121.95 million yuan, with 37.645 million yuan specifically for its wholly-owned subsidiaries [4]. - This represents 50.70% of the company's audited net assets for the 2024 fiscal year and 27.17% of the total audited assets [4].