Shenda Shares (600626): Joint Liability Guarantee For A Wholly Owned Subsidiary With A Comprehensive Credit Limit Of 350 Million Yuan.

On March 17th, Shen Da shares (securities code: 600626) issued a notice that it signed the "maximum guarantee contract" with the Bank of China Limited by Share Ltd Shanghai branch in March 16, 2020, providing joint and several liability guarantee for RMB 350 million yuan in the comprehensive credit line of RMB 379 million yuan for the wholly owned subsidiary of Shanghai Shenda import and Export Co., Ltd. to the Bank of China branch in Shanghai. 。

The nineteenth meeting of the ninth board of directors held in April 25, 2019, and the annual general meeting of shareholders held in 2018 in June 14, 2019, examined and approved the motion on the company's guarantee for its subordinate enterprises in 2019, and agreed that the company provides bank loans or comprehensive grants with a total amount of not more than 3 billion 500 million yuan for the wholly-owned, controlling and controlling enterprises. Letter guarantee. Among them, the guarantee for a wholly owned subsidiary is not more than 1 billion yuan, and the guarantee for the controlling shareholder and the actual control enterprise is not more than 2 billion 500 million yuan. The guarantee is within the expected 1 billion yuan guarantee.

The announcement shows that the main contents of the guarantee agreement are:

The company provides joint and several liability guarantee for the 350 million yuan in the 379 million yuan credit line agreement signed by China and Shanghai branch. The term of credit is from March 16, 2020 to September 19, 2020.

The company provides guarantee for the loan from the wholly owned subsidiary of Shenda to the Bank of China Shanghai branch, which is required for the normal operation and business development of Shenda's import and export business. The guarantee amount is controlled in the company's 2019 year guarantee amount for the wholly owned subsidiary. The guarantee risk is controllable and will not adversely affect the production and operation of the company.