Summary of Key Points Core Viewpoint - The company has provided an irrevocable joint liability guarantee for its subsidiary, Hainan Airlines Technology Co., Ltd., to secure a financing lease agreement with Huaxia Financial Leasing Co., Ltd., with a guarantee amount not exceeding 80 million RMB [1][3]. Group 1: Guarantee Details - The company signed a guarantee contract with Huaxia Financial Leasing to cover all debts owed by Hainan Airlines Technology under the financing lease agreement [3][5]. - The total new mutual guarantee limit for 2025 approved by the board is 15.8 billion RMB, with 11.3 billion RMB allocated for subsidiaries with a debt-to-asset ratio above 70% and 4.5 billion RMB for those below [2][9]. - The guarantee covers all obligations under the main contract, including overdue rent, early termination fees, and other liabilities [6][8]. Group 2: Guarantee Necessity and Control - The guarantee is deemed necessary to meet the operational needs of the subsidiary, which has a normal debt repayment capacity [8]. - The company maintains absolute control over the subsidiary's management and financial status, ensuring that it can monitor operational conditions and creditworthiness effectively [8]. Group 3: Board Approval and Current Guarantee Status - The board of directors and the shareholders' meeting have approved the guarantee without the need for further deliberation, as it falls within the authorized limit for 2025 [9]. - As of the announcement date, the total amount of guarantees provided by the company to its subsidiaries is approximately 2.48 billion RMB, which represents 109.25% of the company's audited net assets for 2024 [10].