Securities code: Hubei Yihua Chemical Industry Co.Ltd(000422) securities abbreviation: Hubei Yihua Chemical Industry Co.Ltd(000422) Announcement No.: 2022023 Hubei Yihua Chemical Industry Co.Ltd(000422)
Announcement on external guarantee
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Special risk tips:
Hubei Yihua Chemical Industry Co.Ltd(000422) (hereinafter referred to as “the company” or “the company”) and its holding subsidiaries guarantee 107804% of the latest audited net assets, 107804% of the latest audited net assets of listed companies for units with asset liability ratio of more than 70%, and 272.17% of the latest audited net assets for units outside the consolidated statements, Please pay full attention to the guarantee risk.
1、 Overview of guarantee
The company intends to provide guarantee for the loan applied by Hubei Yihua Chemical Industry Co.Ltd(000422) degradable new materials Co., Ltd. (hereinafter referred to as “degradable new materials”) to financial institutions. The main creditor of this guarantee is Hubei Yihua Chemical Industry Co.Ltd(000422) Group Finance Co., Ltd., with a guarantee amount of 260 million yuan. On March 11, 2022, the company held the third meeting of the 10th board of directors, deliberated and adopted the proposal on external guarantee, which is as follows:
Taking 100% of the company’s shares in degradable new materials as degradable new materials, the company provided equity pledge guarantee for the 260 million yuan loan applied to Hubei Yihua Chemical Industry Co.Ltd(000422) Group Finance Co., Ltd. The guarantee period is 5 years, and the guarantee method is equity pledge guarantee.
Voting results: 15 in favor, 0 against and 0 abstention.
The agreement on the above guarantee has not been signed.
The above proposal must be submitted to the general meeting of shareholders of the company for deliberation.
2、 Basic information of the guaranteed
Company name: Hubei Yihua Chemical Industry Co.Ltd(000422) degradable new materials Co., Ltd
Date of establishment: February 8, 2021
Registered capital: 20 million yuan
Legal representative: Song Aihua
Registered address: No. 5311, No. 57-5, development avenue, Yichang District, China (Hubei) free trade zone
Business scope: general items: manufacturing and sales of synthetic materials (excluding hazardous chemicals), eco-environmental materials, bio based materials and special chemical products (excluding hazardous chemicals); Sales of chemical products (excluding licensed chemical products); New material technology research and development, technical services, technology development, technical consultation, technical exchange, technology transfer and technology promotion; Engineering and technical research and experimental development (except for projects subject to approval according to law, business activities shall be carried out independently according to law with business license).
Relationship with the company: degradable new materials is a wholly-owned subsidiary of the company.
Main financial data of degradable new materials: as of September 30, 2021, the total assets were 3446438177 yuan, the total liabilities were 1446738177 yuan and the net assets were 1999700000 yuan. The project is under construction and has not been officially put into operation.
After inquiry, the degradation of new materials is not a dishonest person.
3、 Main contents of the guarantee agreement
The total amount of this guarantee is 260 million yuan, and the guarantee method is equity pledge guarantee.
After the general meeting of shareholders deliberates and passes the guarantee proposal and the company signs a formal guarantee contract or agreement with relevant financial institutions according to law, the company will bear the guarantee liability according to the effective guarantee contract or agreement.
The board of directors of the company authorizes the management of the company to handle relevant guarantee procedures within the guarantee limit approved by the general meeting of shareholders, and sign relevant guarantee contracts or agreements.
4、 Opinions of the board of directors
1. The bank loan guaranteed for the subsidiary this time is the need of the subsidiary to supplement the project construction funds. The guaranteed party’s degradation of new materials is a subsidiary within the scope of the company’s consolidated statements, and the company has control over it, and its financial risk is within the scope that the company can effectively control.
2. The equity structure of the guarantee object is as follows:
Hubei Yihua Chemical Industry Co.Ltd(000422) Group Co., Ltd
17.08%
Our company
100%
Hubei Yihua Chemical Industry Co.Ltd(000422) degradable New Material Co., Ltd
5、 Accumulated external guarantees and overdue guarantees
After this guarantee, the total guarantee amount of the company and its holding subsidiaries is 377666 million yuan, accounting for 115775% of the company’s latest audited net assets; The total balance of guarantees provided by the company and its holding subsidiaries to units outside the consolidated statements was 887.84 million yuan, accounting for 272.17% of the latest audited net assets of the listed company; The guaranteed debt is not overdue.
6、 Documents for future reference
Resolution of the third meeting of the 10th board of directors of the company.
It is hereby announced.
Hubei Yihua Chemical Industry Co.Ltd(000422) board of directors
March 11, 2022
