Summary of Key Points Core Viewpoint - The company has provided a guarantee of 160 million yuan to its wholly-owned subsidiary, Hubei Fuchun Dyeing and Weaving Co., Ltd., to support its operational needs, with the total guarantee amount now reaching 973 million yuan [1][2][5]. Group 1: Guarantee Details - The guarantee amount provided is 160 million yuan, and the total guarantee balance for Hubei Fuchun is now 973 million yuan [1][3]. - The company has not provided any counter-guarantee for this transaction [2][4]. - The total external guarantee amount by the company and its subsidiaries is 1,721 million yuan, which accounts for 91.54% of the company's latest audited net assets [5]. Group 2: Decision-Making Process - The guarantee was approved during the third board meeting on April 7, 2025, and the annual shareholders' meeting on April 29, 2025, where the maximum guarantee limit for the year was set at 3,800 million yuan [2][5]. - The guarantee includes various forms such as loans, letters of credit, and performance guarantees [2][4]. Group 3: Financial Overview of Hubei Fuchun - As of March 30, 2025, Hubei Fuchun's total assets were approximately 1,297 million yuan, with total liabilities of about 1,010 million yuan, resulting in net assets of around 287 million yuan [4]. - The company's revenue for the first quarter of 2025 was approximately 292.82 million yuan, with a net profit of about 8.54 million yuan [4]. Group 4: Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary for the business development and operational needs of the subsidiary, ensuring its sustainable and stable growth [4][5]. - The company maintains control over the subsidiary's management and finances, keeping the guarantee risk within a manageable range [5].

Group 1 - The company has decided to cancel the supervisory board and transfer some of its powers to the audit committee of the board of directors, in accordance with relevant laws and regulations [1][2][3] - The company’s registered capital has been changed from RMB 149.763108 million to RMB 194.076105 million, with the total number of shares increasing from 149.763108 million to 194.076105 million [2][3] - The company is revising its articles of association to comply with the latest legal requirements and to meet its operational needs, with specific changes highlighted in the attached documents [2][3][7] Group 2 - The proposed changes, including the cancellation of the supervisory board and the amendments to the articles of association, will be submitted for approval at the upcoming shareholders' meeting [3][4] - The company aims to enhance its corporate governance structure and ensure sustainable development through the revision and establishment of various management systems [3][4][5] - The revised articles of association and management systems will be published on the Shanghai Stock Exchange website for transparency [5][6]