Summary of Key Points Core Viewpoint - The company has approved a guarantee limit of up to RMB 500 million for its subsidiaries in 2025 to support financing needs and ensure operational stability [1][5]. Group 1: Guarantee Overview - The company held board and supervisory meetings on April 22, 2025, and a shareholder meeting on May 15, 2025, to approve the guarantee limit for 2025 [1]. - The guarantee is valid from the date of approval until the next annual shareholder meeting in 2026 [1]. Group 2: Guarantee Progress - The company signed an irrevocable guarantee agreement with China Merchants Bank Shenzhen Branch to provide a guarantee of RMB 20 million for its wholly-owned subsidiary, Shenzhen Kaiwang Electronics Co., Ltd. [1][2]. Group 3: Basic Information of the Guaranteed Entity - Shenzhen Kaiwang Electronics was established on September 22, 1999, with a registered capital of RMB 36.63 million [2]. - The company specializes in the design, research, and sales of computer connection cables, communication equipment, and related products [2]. - As of March 31, 2025, the total assets of Shenzhen Kaiwang Electronics were RMB 774.04 million, with total liabilities of RMB 744.39 million [2]. Group 4: Main Content of the Guarantee Agreement - The guarantee covers the principal amount, interest, penalties, and other related costs associated with the debts of Shenzhen Kaiwang Electronics [3][4]. Group 5: Board of Directors' Opinion - The board believes that the guarantee will support the orderly conduct of Shenzhen Kaiwang Electronics' daily operations and ensure smooth financing activities [5]. - The company maintains effective control over the subsidiary's operations, and the risks associated with the guarantee are considered manageable [5]. Group 6: Cumulative External Guarantee - After the guarantee, the total guarantee amount for subsidiaries is RMB 110.8473 million, accounting for 13.42% of the company's latest audited net assets [6]. - The total guarantee provided to Shenzhen Kaiwang Electronics is RMB 205 million, with an actual usage of RMB 81.0204 million [6].