Core Viewpoint - The announcement details the progress of external guarantees provided by the company to its wholly-owned subsidiaries, indicating a total guarantee amount and the financial health of the subsidiaries involved [1][5]. Summary by Sections Overview of Guarantee Situation - The company plans to provide a total credit guarantee of up to RMB 590 million for the year 2025, with specific amounts allocated for its subsidiaries: up to RMB 350 million for Tianshui Changcheng Switch Factory Group Co., Ltd. and up to RMB 140 million for Tianshui 213 Electric Group Co., Ltd. [1][2]. Progress of Guarantee Matters - Recently, the company provided a total of RMB 40 million in guarantees to the two subsidiaries, which is within the approved limit from the annual shareholders' meeting [2][5]. Basic Information of Guaranteed Entities - Tianshui Changcheng Switch Factory Group Co., Ltd. has total assets of RMB 242.84 million and total liabilities of RMB 181.97 million, resulting in a net asset value of RMB 60.86 million. The company reported a revenue of RMB 134.51 million and a net loss of RMB 2.71 million for the year [4]. - Tianshui 213 Electric Group Co., Ltd. has total assets of RMB 90.03 million and total liabilities of RMB 53.23 million, leading to a net asset value of RMB 36.79 million. The company reported a revenue of RMB 50.06 million and a net loss of RMB 3.23 million for the year [4]. Main Content of Guarantee Contracts - The guarantees provided are joint and several liabilities, with specific banks involved for each subsidiary. The guarantees cover principal debts, interest, and associated costs for a period of three years [4][5]. Board of Directors' Opinion - The board believes that the guarantees are necessary for the normal operations of the wholly-owned subsidiaries and that the risks are manageable. The company maintains control over the subsidiaries and has assessed their ability to repay debts [5]. Total External Guarantee Amount and Status - As of the announcement date, the total approved external guarantee amount for the company and its subsidiaries is RMB 590 million, which accounts for 49.92% of the latest audited net assets. The actual external guarantee balance is RMB 509 million, representing 43.06% of the latest audited net assets, with no overdue guarantees reported [5].