Securities Code: 002472
Securities Abbreviation: Shuanghuan Transmission
Announcement Number: 2026-022
Zhejiang Shuanghuan Transmission Machinery 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 major omissions.
1. Overview of Guarantees
The Company held the 12th meeting of the 7th Board of Directors on April 22, 2026, and the 2025 Annual General Meeting on May 26, 2026, where it approved the proposal on providing financing guarantees for the Company and its subsidiaries for the year 2026. Based on the overall production and operational plans and funding needs, certain companies within the consolidated financial statements intend to finance through financial institutions and leasing companies. To ensure the continuous and healthy development of production and operations, the Company plans to provide financing guarantees for certain wholly-owned and holding subsidiaries, not exceeding RMB 5.635 billion; holding subsidiaries may provide mutual guarantees for their wholly-owned subsidiaries, not exceeding RMB 140 million, with the actual guarantee amount subject to the final signed guarantee contracts. The validity period of the above guarantee amounts is from the date of approval by the 2025 Annual General Meeting until the date of the 2026 Annual General Meeting. For detailed information on the above guarantees, please refer to the announcements disclosed by the Company on April 24, 2026, and May 27, 2026, in the "China Securities Journal," "Shanghai Securities Journal," "Securities Times," "Securities Daily," and on the Giant Tide Information Network (www.cninfo.com.cn).
2. Progress of Guarantees
Recently, the Company signed guarantee agreements with several banks to provide joint liability guarantees for the bank financing business of its wholly-owned subsidiary, Jiangsu Shuanghuan Gear Co., Ltd. (hereinafter referred to as "Jiangsu Shuanghuan"), as follows:
- The Company signed a "Maximum Guarantee Contract" with the Huai'an Branch of Guangfa Bank Co., Ltd., providing joint liability guarantees for Jiangsu Shuanghuan's financing business with Guangfa Bank, with a maximum principal balance of RMB 200 million.
- The Company signed a "Maximum Guarantee Contract" with the Huai'an Chuzhou Branch of Agricultural Bank of China Co., Ltd., providing joint liability guarantees for Jiangsu Shuanghuan's financing business with Agricultural Bank of China, with a maximum principal balance of RMB 120 million.
- The Company signed a "Maximum Guarantee Contract" with the Huai'an Branch of Jiangsu Bank Co., Ltd., providing joint liability guarantees for Jiangsu Shuanghuan's financing business with Jiangsu Bank, with a maximum principal balance of RMB 250 million.
- The Company signed a "Maximum Guarantee Contract" with the Huai'an Chuzhou Branch of Bank of China Co., Ltd., providing joint liability guarantees for Jiangsu Shuanghuan's financing business with Bank of China, with a maximum principal balance of RMB 300 million.
The above guarantee matters are within the approved guarantee limits by the Company's Board of Directors and shareholders and do not require further approval from the Board of Directors or shareholders.