000950SZSE

Announcement on Providing Guarantees for Bank Credit Applications of Wholly-Owned Subsidiaries

✨ AI Summary

Chongqing Pharmaceutical Holdings Co., Ltd. plans to provide guarantees totaling up to RMB 139 million for 11 wholly-owned subsidiaries applying for bank credit in 2026. The board approved this proposal, which will be submitted to the shareholders' meeting for further review. The subsidiaries' debt ratios exceed 70%, but the financial risks are deemed controllable.

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Full Translation

AI Translation· azure_openai

Overview of the Guarantee Situation

Chongqing Pharmaceutical Holdings Co., Ltd. (hereinafter referred to as "Chongqing Pharmaceutical" or "the Company") holds 84.45% of the shares of Chongqing Pharmaceutical (Group) Co., Ltd. (hereinafter referred to as "Chongqing Pharmaceutical Shares"), making it the controlling shareholder. The subsidiaries of Chongqing Pharmaceutical Shares engage in pharmaceutical distribution. To ensure the smooth operation of their business, based on their operational plans and funding needs, the subsidiaries of Chongqing Pharmaceutical intend to provide a maximum joint liability guarantee of no more than RMB 139 million (revolving within the validity period) for the bank comprehensive financing credit applications of 11 wholly-owned subsidiaries for the year 2026. The actual credit limits and terms for each subsidiary will ultimately depend on the actual approval by the respective banks, with a term of one year for revolving transactions. To efficiently and orderly complete the company's guarantee work, in accordance with relevant laws, regulations, and the company's articles of association, the following guarantee plan is proposed: if guarantees are provided by Chongqing Pharmaceutical Shares, the company's board of directors will request the shareholders' meeting to authorize the company's legal representative to handle matters related to the guarantee in accordance with national laws, regulations, and policies, as well as the resolutions of the shareholders' meeting and board of directors. The specific situation is as follows:

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