Sunshine City Group Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without false records, misleading statements, or significant omissions.
Special Risk Warning
As of now, the actual amount of guarantees provided by Sunshine City Group Co., Ltd. and its controlling subsidiaries for affiliated companies is 10.685 billion RMB, accounting for 204.70% of the latest audited consolidated net assets attributable to the parent company. The Company and its controlling subsidiaries have provided guarantees totaling 58.572 billion RMB for other controlling subsidiaries with a debt ratio exceeding 70%, and 1.850 billion RMB for those with a debt ratio not exceeding 70%. The total amount of guarantees in these three categories is 71.107 billion RMB, exceeding 100% of the latest audited consolidated net assets attributable to the parent company, with guarantees for units with a debt ratio exceeding 70% surpassing 50% of the latest audited net assets. Apart from the aforementioned guarantees, the Company has no other external guarantees. Investors are advised to pay attention.
Overview of Guarantees
(1) Guarantee Situations
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The Company holds a 40% equity interest in the affiliated company Ningbo Haoguang Real Estate Co., Ltd. (hereinafter referred to as "Ningbo Haoguang"), which has accepted a financing extension of 470 million RMB from Shanghai Bank Co., Ltd. Ningbo Branch, with a maximum extension period of 16 months. As a guarantee condition, Ningbo Haoguang will provide a mortgage on all unsold construction projects (unsold properties) and pledge 100% of its equity. The Company will provide a 70% joint liability guarantee for this financing, while another shareholder, Riyuecheng Real Estate Co., Ltd., will provide counter-guarantees proportionate to their shareholding, and other shareholders will provide guarantees proportionately. The guarantee scope includes the principal, interest (including penalty interest and compound interest), default penalties, damages, and costs incurred by creditors in realizing their claims under the main contract. The guarantee contract has not yet been signed, and specific guarantee conditions will be based on the actual contract signed.
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The Company holds a 51% equity interest in its subsidiary Guangzhou Baiyao Xinguang Real Estate Co., Ltd. (hereinafter referred to as "Guangzhou Baiyao Xinguang"), which has accepted a financing extension of up to 198.52 million RMB from Industrial Bank Co., Ltd. Guangzhou Haizhu Branch, with a maximum extension period of 12 months. As a guarantee condition, the construction projects under Guangzhou Baiyao Xinguang will be mortgaged, and the Company will provide a joint liability guarantee of 101.2452 million RMB proportionate to its equity interest, along with a 49% obligation to cover any shortfall. Guangdong Lanyuan Holdings Co., Ltd. will provide counter-guarantees for the Company. Specific guarantee conditions will be based on the actual contract signed.
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The Company holds a 100% equity interest in its subsidiary Changsha Jun Guangpeng Real Estate Development Co., Ltd. (hereinafter referred to as "Changsha Jun Guangpeng"), which has accepted a financing extension of 135.45 million RMB from Everbright Bank Changsha Branch, with a term of 18 months. As a guarantee condition, Changsha Jun Guangpeng will provide a mortgage on its construction projects, and the Company will provide a 100% joint liability guarantee for this financing. Specific guarantee conditions will be based on the actual contract signed.
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The Company holds a 60% equity interest in its subsidiary Wenzhou Guangyue Real Estate Development Co., Ltd. (hereinafter referred to as "Wenzhou Guangyue"), which has accepted a financing extension of 920 million RMB from CITIC Bank Co., Ltd. Wenzhou Cangnan Branch, with a maximum extension period of 12 months. As a guarantee condition, Wenzhou Guangyue will provide a mortgage on its land, and the Company will provide a 60% joint liability guarantee for this financing, with Wenzhou Guangyue providing corresponding counter-guarantees for the Company. Specific guarantee conditions will be based on the actual contract signed.