河北华通线缆集团股份有限公司关于子公司申请授信并接受公司担保的进展公告

Core Viewpoint - The announcement details the progress of Hebei Huatong Cable Group Co., Ltd. regarding its subsidiary's application for credit and acceptance of company guarantees, specifically a guarantee of 10 million RMB for Tangshan Fengnan District Huaxin Precision Pipe Co., Ltd. [1][4] Summary by Sections Guarantee Overview - The guaranteed party is Tangshan Fengnan District Huaxin Precision Pipe Co., Ltd. [1] - The total guarantee amount provided by Hebei Huatong Cable Group is 10 million RMB [1]. Credit Application and Guarantee Limits - The company approved a comprehensive credit limit of up to 7 billion RMB or equivalent foreign currency for 2024, which includes various financial instruments [2]. - The total external guarantee limit for the company and its subsidiaries is capped at 3 billion RMB or equivalent foreign currency [2]. External Guarantee Allocation - The company plans to provide guarantees of up to 400 million RMB for subsidiaries with an asset-liability ratio below 70% and up to 2.6 billion RMB for those above 70% [3]. - The arrangement allows for adjustments in guarantee limits based on the actual operational needs of subsidiaries [3]. Subsidiary Financials - Huaxin Precision had total assets of 323.5 million RMB and a net asset of 78.5 million RMB as of December 31, 2023, with an asset-liability ratio of 75.72% [5]. - For the first nine months of 2024, Huaxin Precision reported total assets of 486.9 million RMB, a net asset of 72.1 million RMB, and an asset-liability ratio of 85.20% [5]. Guarantee Contract Details - The guarantee contract with China Bank for the loan to Huaxin Precision includes a joint liability guarantee [6][9]. - The guarantee period extends for three years after the main debt is settled [10]. Board Opinion - The board believes that the subsidiary's application for comprehensive credit and acceptance of the company's guarantee aligns with the company's operational needs and overall strategic interests [10]. Cumulative Guarantee Status - As of the announcement date, the total guarantees provided to subsidiaries amount to approximately 2.34 billion RMB, representing 82.30% of the company's latest audited net assets [11].