Overview of Guarantees
(1) Guarantees Provided by Huatie, Yatongda Equipment, and Shandong Jiatai
To meet the working capital needs of its wholly-owned subsidiary, Qingdao Yatongda Railway Equipment Manufacturing Co., Ltd. ("Yatongda Manufacturing"), Guangdong Huatie Tongda High-Speed Equipment Co., Ltd. ("the Company" or "Huatie") has applied for comprehensive credit from Industrial Bank Co., Ltd. Qingdao Branch ("Industrial Bank"). Recently, the Company, Qingdao Yatongda Railway Equipment Co., Ltd. ("Yatongda Equipment"), and Shandong Jiatai Transportation Equipment Co., Ltd. ("Shandong Jiatai") signed a "Maximum Guarantee Contract" with Industrial Bank, providing joint liability guarantees of RMB 100 million, RMB 100 million, and RMB 120 million, respectively, for Yatongda Manufacturing's credit application. The Company and all members of the board guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
(2) Additional Guarantee by Shandong Jiatai for Yatongda Equipment
Previously, to meet the working capital needs for normal operations, Yatongda Equipment applied for comprehensive credit from Industrial Bank. For details, please refer to the announcement disclosed on January 26, 2024. Recently, Shandong Jiatai signed a "Maximum Guarantee Contract" with Industrial Bank, providing an additional joint liability guarantee of RMB 180 million for Yatongda Equipment's credit application. The Company's 10th Board of Directors' fourth temporary meeting and the second temporary shareholders' meeting in 2024 approved the external guarantee limit for 2024, which covers the guarantees provided for Yatongda Manufacturing and Yatongda Equipment, thus no further approval from the board or shareholders is required. Yatongda Manufacturing and Yatongda Equipment have completed the relevant review procedures for the guarantees.
Before this guarantee, the Company had a guarantee balance of RMB 1.575 billion for subsidiaries with a debt-to-asset ratio exceeding 70%, with a remaining available guarantee limit of RMB 900 million. After this guarantee, the balance increased to RMB 1.605 billion, with a remaining limit of RMB 720 million. For subsidiaries with a debt-to-asset ratio below 70%, the balance was RMB 155.1 million before, and after the guarantee, it increased to RMB 175.1 million, with a remaining limit of RMB 780 million.
Basic Information of the Guaranteed Parties
(1) Yatongda Manufacturing
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Basic Information
- Establishment Date: June 29, 2010
- Registered Location: No. 307, Kehui Road, High-tech Zone, Qingdao
- Legal Representative: Xuan Ruiguo
- Registered Capital: RMB 53 million
- Main Business: Production and processing of electromechanical products for railway locomotives and vehicles, parts and components, and related services, as well as R&D, manufacturing, and sales of energy-saving and environmental protection products.
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Shareholding Structure and Relationship with the Listed Company: Yatongda Manufacturing is a wholly-owned subsidiary of Huatie.