Zhongtian Financial Group Co., Ltd. (hereinafter referred to as "the Company") and its subsidiary, Zhongtian City Investment Group Co., Ltd. (hereinafter referred to as "Zhongtian City Investment"), signed a supplementary agreement regarding the modification of the loan contract and extension agreement with Guizhou Bank Co., Ltd. Nanning Branch (hereinafter referred to as "Guizhou Bank Nanning Branch"), providing a joint liability guarantee for the financing balance of 128,741.25 million yuan for its subsidiary, Guizhou International Financial Center Co., Ltd. (hereinafter referred to as "Financial Center"). The guarantee is now effective.
1. Overview of the Guarantee
(1) Basic Information of the Guarantee
The Company held meetings on April 28, 2023, and May 19, 2023, to review and approve the proposal regarding the estimated guarantee limit for 2023. The estimated guarantee limit for 2023 is set at no more than 1,400,000 million yuan, with a maximum of 1,380,000 million yuan for wholly-owned and controlling subsidiaries with a debt-to-asset ratio exceeding 70%, and no more than 20,000 million yuan for those with a debt-to-asset ratio not exceeding 70%. The chairman of the Company is authorized to handle related matters within this limit for a period of 12 months from the approval date of the 2022 annual general meeting.