Golden Eagle Shares (600232): Continue To Provide Guarantees For Holding Subsidiaries.

Zhejiang Golden Eagle Limited by Share Ltd announcements of continuing guarantees for holding subsidiaries

The board of directors and all directors of the company guarantee that there is no false record, misleading statement or major omission in the contents of this announcement, and shall bear individual and joint liabilities for the authenticity, accuracy and completeness of the contents. Important note:

The name of the guarantor: Zhejiang Jinying Plastic Machinery Co., Ltd. (hereinafter referred to as "Golden Eagle Plastic Machine").

The guarantee amount is not more than 120 million yuan (inclusive).

Is there any counter guarantee for this guarantee: none?

? the total number of overdue external guarantees: no

I. summary of guarantee situation

In order to expand the production and sale of Jinying plastic machinery holding subsidiary and enhance its profitability, the Zhejiang Golden Eagle Limited by Share Ltd (hereinafter referred to as "company") provided a guarantee for the company's Golden Eagle Plastic Machine in 2017 and 2018 for a total of not more than 120 million yuan (see company 2017-043, 2018-014). Jinying shares and banks (including but not limited to China Everbright Bank, Zhejiang Commercial Bank, hereinafter referred to as the "cooperative bank") guarantee contract expires, in order to continuously strengthen the production, sale and profit of Jinying plastic machine, Jinying shares will continue to provide guarantee for the Golden Eagle plastic machine no more than 120 million yuan (inclusive). The above guarantee has been examined and approved by the fourteenth session of the ninth board of directors held in December 9, 2019. According to the relevant provisions of the Shanghai Stock Exchange Listing Rules and the articles of association, it is still required to be submitted to the shareholders' general meeting for deliberation.

Two, the basic situation of the guarantor

1, the basic situation

Name: Zhejiang Jinying Plastic Machinery Co., Ltd.

Type: limited liability company

Residence: Zhoushan Dinghai Industrial Park (north of the old duck Road) legal representative: Pan Mingzhong's registered capital: 63 million yuan: date of establishment: 2000, 09, 06, business scope: manufacture, processing and sales of plastic machinery products and other mechanical products and accessories. The project must be approved according to law and can be carried out after approval by the relevant departments.

2, as of October 31, 2019, the total assets of Jinying plastic machine were 383 million 322 thousand and 600 yuan, net assets 169 million 853 thousand and 100 yuan, asset liability ratio 55.69%, operating income 176 million 233 thousand and 100 yuan, net profit 13 million 426 thousand yuan, and the above data were not audited.

3, the company holds 95% stake in Jinying plastic machine, Jinying plastic machine is the controlling subsidiary of the company.

Three, the main contents of guarantee

Guarantor: Zhejiang Golden Eagle Limited by Share Ltd

The secured party: Zhejiang Jinying Plastic Machinery Co., Ltd.

Guarantee amount: no more than RMB 120 million yuan (inclusive)

The specific scope of the guarantee, the duration of guarantee and the amount of guarantee will ultimately be related to the relevant contracts signed by the cooperative bank. The company shall consider and approve the above shareholders' meeting and sign relevant contracts after the completion of the internal deliberations of other parties.

Four, board of directors and independent directors' opinions

The Board believes that Jinying plastic machinery is a subsidiary company of the company. Financing is to meet the needs of its normal operation and development, it can expand its production and sales, and enhance its profitability. The company continues to provide guarantees to it, which is conducive to its healthy development and is in line with the overall interests of the company. The board of directors agrees that the company will continue to guarantee its business and the management level is responsible for handling related matters.

The independent director expresses his independent opinion. He believes that the company continues to guarantee the subsidiary matters according to the needs of the production and operation of the subsidiary and the way of business, and has fulfilled the necessary decision-making procedures, which is in conformity with the relevant provisions of the CSRC and the Shanghai Stock Exchange on the guarantee of the listed companies, and the object of the company's guarantee is compensated.

The ability to pay debts is within the control of the company, and there is no harm to the interests of the company and shareholders. Unanimously agreed that the company will continue to provide guarantees for its subsidiary.

Five. Quantity of accumulated external guarantee and quantity of overdue guarantee.

As of the date of this announcement, the amount of guarantee provided by the company to Jinying plastic machine is not more than 120 million yuan. If the guarantee continues, the total amount of guarantee provided by the company to the Golden Eagle plastic machine is still no more than 120 million yuan RMB. There are no other external guarantees and no overdue guarantee.

Six. Reference documents

1, resolution of the fourteenth session of the ninth board of directors of the company;

2. Independent directors' opinions;

Notice hereby.

Zhejiang Golden Eagle Limited by Share Ltd board of directors

December 10, 2019