Securities code: Zhejiang Satellite Petrochemical Co.Ltd(002648) securities abbreviation: Satellite chemistry Announcement No.: 2022024 satellite Chemistry Co., Ltd
Announcement on the forecast of external guarantee amount in 2022
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:
The total amount of guarantees provided by listed companies and holding subsidiaries within the scope of consolidated statements in 2022 is expected to exceed 100% of the latest audited net assets and 30% of the latest audited total assets of the company. The asset liability ratio of the guaranteed parties Jiangsu Lianyungang Port Co.Ltd(601008) Petrochemical Co., Ltd., satellite international (Singapore) Pte.Ltd. and satellite chemical USA Corp. exceeds 70%. Please pay full attention to the guarantee risk.
1、 Overview of guarantee
Satellite Chemical Co., Ltd. (hereinafter referred to as “the company” or “satellite chemical”) held the 13th meeting of the 4th board of directors on March 18, 2022 and deliberated and adopted the proposal on the prediction of the company’s external guarantee amount in 2022 and the proposal on the prediction of the subsidiary’s external guarantee amount in 2022. Due to the needs of production, operation and business development, The company is proposed to be Pinghu Petrochemical Co., Ltd. (hereinafter referred to as “Pinghu petrochemical”), Zhejiang satellite energy Co., Ltd. (hereinafter referred to as “satellite energy”) / Satellite chemical usacorp (hereinafter referred to as “satellite America”), Jiangsu Lianyungang Port Co.Ltd(601008) Petrochemical Co., Ltd. (hereinafter referred to as ” Jiangsu Lianyungang Port Co.Ltd(601008) petrochemical”) shall provide guarantee for financing or other performance obligations, with a total amount of no more than RMB 21.3 billion (including this amount). The company plans to provide guarantee for financing or other performance obligations of Satellite International (Singapore) Pte.Ltd. (hereinafter referred to as “satellite Singapore”), The total amount shall not exceed US $60 million (including this amount), and the amount of guarantee proposed by satellite energy for the financing or other performance obligations of satellite America shall not exceed US $150 million (including this amount).
The above guarantee matters need to be submitted to the general meeting of shareholders of the company for deliberation and approval, and the guarantee limit is valid from the deliberation and approval of the annual general meeting of shareholders in 2021 to the convening of the annual general meeting of shareholders in 2022. Within the scope of the above guarantee limit, the board of directors of the company requests the general meeting of shareholders to authorize the chairman to exercise the guarantee decision and sign relevant contract documents.
2、 Estimated guarantee amount of listed companies and holding subsidiaries
Whether the guaranteed amount of the guarantor and the guaranteed party accounts for the maximum guarantee amount of the listed company up to now
Maintain the share ratio and the guarantee amount of the company’s net related party guarantee balance in the latest period
Example (%) debt ratio (%) asset ratio (%) guarantee
Satellite Pinghu
100% 32.37% ¥ 5.58 ¥ 10.00 5.16% chemical and petrochemical
satellite
100% and 13.86% are satellite energy
¥14.48 ¥45.00 23.24%
Chemical satellite
100%, 74.49% are from the United States
Satellite Jiangsu Lianyungang Port Co.Ltd(601008)
100% 70.12% ¥ 124.26 ¥ 158.00 81.60% are chemical and petrochemical satellites
100% 98.86% 0.00 $0.60 4.91% chemical Singapore satellite
100% 74.49% $1.50 $1.50 1.97% US energy
Total ¥ 153.83 ¥ 226.32 116.88%-
Note: 1. This guarantee is an authorization to be guaranteed. The specific contents of the guarantee agreement and the amount guaranteed by the company for each guarantee object will be adjusted according to the actual situation within the above total amount.
2. The exchange rate used shall refer to the central parity rate of USD of the people’s Bank of China on March 18, 2022.
3、 Basic information of the guaranteed
(I) Pinghu Petrochemical Co., Ltd
Date of establishment: September 6, 2012
Place of registration: Pinghu City, Zhejiang Province
Legal representative: Yang Weidong
Registered capital: 120 million yuan
Business scope: licensed items: production of hazardous chemicals; Operation of hazardous chemicals; Storage of hazardous chemicals; Import and export of goods; Technology import and export (for projects subject to approval according to law, business activities can be carried out only after approval by relevant departments, and the specific business projects shall be subject to the approval results). General items: production of chemical products (excluding licensed chemical products); Sales of chemical products (excluding chemical products); Sales of disinfectants (excluding hazardous chemicals).
Ownership structure, relationship with listed companies or other business connections: the company holds 100% equity of Pinghu petrochemical.
Unit: RMB 10000
December 31, 2021 December 31, 2020
Total assets 7064214441964316
Total liabilities 2286755419911361
Net assets 4777458922052956
Project year 2021 to 2020
Operating income 10980662241361179
Total profit 295522924291519
Net profit 257205633817086
(II) Zhejiang satellite energy Co., Ltd
Date of establishment: April 28, 2011
Place of registration: Pinghu City, Zhejiang Province
Legal representative: Yang Weidong
Registered capital: 3195 million yuan
Business scope: production of propylene, heavy components (n-butane, isobutane, a small amount of benzene and heavy aromatics), hydrogen and nitrogen (compressed), and sales of self-produced products; With storage and operation: propylene, propane, liquefied petroleum gas (industrial production raw materials), hydrogen and nitrogen; Production and sales of polypropylene; Research and development of chemical engineering technology; Wholesale of rubber (except natural rubber), plastics and chemical raw materials (excluding dangerous chemicals, MCCs and precursor drugs), import and export of the above commodities and technologies (the import and export of the above commodities do not involve state-owned trade, import and export quota license, export quota bidding, export license and other commodities under special management regulations, and the involved certificates and qualifications operate).
Ownership structure, relationship with listed companies or other business connections: the company holds 100% equity of satellite energy.
Unit: RMB 10000
December 31, 2021 December 31, 2020
Total assets 6312446176283839
Total liabilities 863477328566113
Net assets 5448968947717726
Project year 2021 to 2020
Operating income 7112693460995563
Total profit 739462414091751
Net profit 677203912180109
(III) Jiangsu Lianyungang Port Co.Ltd(601008) Petrochemical Co., Ltd
Date of establishment: November 30, 2017
Place of registration: Jiangsu Lianyungang Port Co.Ltd(601008) City, Jiangsu Province
Legal representative: Shen Xiaowei
Registered capital: 560 million yuan
Business scope: production of chemical products (excluding hazardous chemicals); Research and development of basic chemical raw materials, fine chemicals and new chemical materials; Enterprise management consulting; Port construction engineering construction; General cargo handling services; Self operated and acting as an agent for the import and export business of various commodities and technologies, except for the commodities and technologies that are restricted or prohibited by the state. General items: general goods warehousing services (excluding items requiring license and approval such as hazardous chemicals).
Ownership structure, relationship with listed companies or other business connections: the company holds 100% equity of Jiangsu Lianyungang Port Co.Ltd(601008) petrochemical.
Unit: RMB 10000
December 31, 2021 December 31, 2020
Total assets 240196791171338120
Total liabilities 168417645116276480
Net assets 7177914755061640
Project year 2021 to 2020
Operating income 77898434 253.85
Total profit 19337750 – 202705
Net profit 16124526 – 201118
(Ⅳ)SATELLITE INTERNATIONAL(SINGAPORE)PTE.LTD.
Date of establishment: August 26, 2020
Place of registration: Singapore
Main business: trade, transportation services, management consulting services.
Ownership structure, relationship with listed companies or other business connections: the company holds 100% equity of satellite Singapore.
Unit: RMB 10000
December 31, 2021 December 31, 2020
Total assets 13163534
Total liabilities 65874519309704
Net assets
