Securities code: 000402 securities abbreviation: Financial Street Holdings Co.Ltd(000402) Announcement No.: 2022-008 Financial Street Holdings Co.Ltd(000402)
Announcement on providing guarantee for debt financing of wholly-owned subsidiaries
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.
1、 Overview of guarantee matters
Recently, the company provided a guarantee for the debt financing of Suzhou rongtuo Real Estate Co., Ltd., a wholly-owned subsidiary with an asset liability ratio of more than 70%, with a guarantee amount of 1.2 billion yuan.
The company held the 12th meeting of the 9th board of directors on March 29, 2021 and the 2020 annual general meeting of shareholders on May 12, 2021, and deliberated and approved the proposal on providing guarantee for debt financing of wholly-owned subsidiaries, holding subsidiaries and joint-stock companies in 2021. Within 12 months from the date of approval by the 2020 annual general meeting of shareholders, The company is a wholly-owned and holding subsidiary with an asset liability ratio of more than 70%, with a guarantee amount of 16 billion yuan. See Financial Street Holdings Co.Ltd(000402) announcement on providing guarantee for debt financing of wholly-owned subsidiaries, holding subsidiaries and joint-stock companies in 2021 and Financial Street Holdings Co.Ltd(000402) announcement on resolutions of 2020 annual general meeting of shareholders disclosed by the company on March 31, 2021 and may 13, 2021.
As of the disclosure date of this announcement, the use of the above quota is as follows: the guarantee quota provided by the company for wholly-owned and holding subsidiaries with asset liability ratio below 70% is 14 million yuan (for details, see the announcement on internal adjustment of the company’s guarantee quota issued by the company on designated media on December 3, 2021); The guarantee amount provided for wholly-owned and holding subsidiaries with asset liability ratio of more than 70% is 5.9285.7 billion yuan. This time, the guarantee amount provided for Suzhou rongtuo Real Estate Co., Ltd., a wholly-owned subsidiary with asset liability ratio of more than 70%, is 1.2 billion yuan. The cumulative guarantee amount provided by the company for wholly-owned and holding subsidiaries is 7.1425.7 billion yuan, and the remaining 8.85743 billion yuan is unused, The guarantee matters occur within the limits approved by the above general meeting of shareholders and the board of directors.
2、 Basic information of the guaranteed
(I) basic information of the guaranteed
Name: Suzhou rongtuo Real Estate Co., Ltd
Date of establishment: December 6, 2017
Registered address: Building 6, No. 38, East Taihu Road, Yuexi street, Wuzhong District, Suzhou
Legal representative: Yuan Junjie
The registered capital is 20 million yuan
Main business: real estate development and operation, property management, etc
Wholly owned subsidiary of controlling relationship
(II) financial indicators of the guaranteed
Unit: 10000 yuan
December 31, 2020 (audited) September 30, 2021 (Unaudited)
Total assets 504130.89 573544.93
Total liabilities 477594.43 546559.03
Net assets 26536.46 26985.90
2020 (audited) January September 2021 (Unaudited)
Operating income 216730.00 28782.50
Total profit 39818.46 619.18
Net profit 29861.23 449.44
The company is not involved in external guarantee and major litigation and arbitration matters
(III) the guaranteed object Suzhou rongtuo Real Estate Co., Ltd. is not a dishonest executee.
3、 Main contents of guarantee
The company and Bank Of China Limited(601988) Suzhou Wuzhong sub branch signed the guarantee contract on January 25, 2022 to provide joint and several liability guarantee for the financing matters of Suzhou rongtuo Real Estate Co., Ltd., including the principal of the principal creditor’s right, interest (including interest, compound interest and penalty interest), liquidated damages, compensation Expenses for realizing creditor’s rights (including but not limited to litigation expenses, lawyer’s expenses, notarization expenses, execution expenses, etc.), losses caused to creditors due to debtor’s breach of contract and all other expenses payable. The term of the guarantee contract is three years from the date when the main creditor’s right is paid off. If the main creditor’s right is not paid off in installments, the guarantee period is three years from the date when the contract comes into force to the date when the last debt performance period expires.
4、 Opinions of the board of directors
This guarantee is used to support the project development of subsidiaries. The guarantee object is a wholly-owned subsidiary of the company, which the company has absolute control over. The financial risk is within the control of the company and will not have an adverse impact on the production and operation of the company and its subsidiaries. The guaranteed object does not provide counter guarantee.
This guarantee complies with the relevant provisions of the CSRC, such as the notice on regulating the capital exchanges between listed companies and related parties and the external guarantee of listed companies, the notice on regulating the external guarantee behavior of listed companies, the articles of association and the external guarantee system of the company.
5、 Cumulative guarantee quantity and overdue guarantee quantity
Before the occurrence of this guarantee, the guarantee balance provided by the company for Suzhou rongtuo Real Estate Co., Ltd. was RMB 0 billion. After the occurrence of this guarantee, the guarantee amount provided by the company for Suzhou rongtuo Real Estate Co., Ltd. was RMB 1.2 billion, which occurred within the amount considered by the general meeting of shareholders and the board of directors.
As of the disclosure date of this announcement, the valid guarantee amount for wholly-owned, holding subsidiaries and joint-stock companies approved by the general meeting of shareholders and the board of directors of the company was 33.788 billion yuan; With the approval of the general meeting of shareholders and the board of directors, the balance of guarantees provided by the company for wholly-owned subsidiaries, holding subsidiaries and joint-stock companies was 14.666 billion yuan, accounting for 40.30% of the company’s net assets attributable to the shareholders of the parent company in the latest period, of which the cumulative balance of guarantees provided to companies outside the consolidated statements was 945 million yuan, accounting for 2.60% of the company’s audited net assets in the latest period. There is no overdue guarantee amount, the guarantee amount involved in litigation and the amount of loss due to the judgment of losing the guarantee.
6、 Documents for future reference
1. Resolution of the 12th meeting of the ninth board of directors of the company.
2. Resolutions of the company’s 2020 annual general meeting of shareholders.
It is hereby announced.
Financial Street Holdings Co.Ltd(000402)
Board of directors
January 26, 2022
