Shenzhen Textile A (000045): For The Subsidiary To Apply For 800 Million Yuan Fixed Assets Loan Guarantee.

Shenzhen textile A (securities code: 000045) issued a notice that the company's subsidiary, Shenzhen Shengbo Photoelectric Technology Co., Ltd., to meet the capital demand for the construction of polarizing industrial projects for ultra large size TV, intends to apply for 80 of its own property to the Bank of Communications Ltd syndicate led by the Bank of Communications Ltd branch. The fixed assets loan of 000 yuan shall not exceed 8 years, and the specific terms and time limit shall be based on the actually signed loan contract. The company intends to provide joint and several liability guarantee for the above loan matters according to the shareholding ratio (60%). Another shareholder of Sheng Bo photoelectric Co., Ltd., the real controller of Hangzhou Jinhang equity investment fund partnership (limited partnership), Hangzhou Jinjiang Group Co., Ltd. pledged to provide corresponding guarantee according to its shareholding ratio (40%).

The company intends to make an agreement with the Jinjiang group on issues related to the joint and several liability guarantee. "If any party is compensated by the bank and the amount of the claim is beyond the share it should bear in the future, it is entitled to recover the claim from the other party after the party's unilateral claim has undertaken the corresponding guaranty responsibility, and the recovered party shall pay the recourse to the recourse. The two parties agree that, within 7 days from the date of the recovery of the agreement, the recovered party shall make the payment to the recourse at one time from the date of recovery.

The guarantee cost is guaranteed by Sheng Bo optoelectronics as the controlling subsidiary of the company. In order to alleviate the pressure of Sheng Bo optoelectronic fund, the company agreed to exempt Sheng Bo photoelectric company from paying the guarantee fee. The Guarantee corporation does not charge any fees such as guarantee fee and so on.

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

Guarantee: joint and several liability guarantee.

Guarantee period: 2 years from the date of the entry into force of the guarantee agreement to the date of the expiration of the actual loan performance period.

Guarantee amount: 480 million yuan.

Guarantee content: Sheng Bo optoelectronic application to the Bank of Hong Kong Group for 800 million yuan fixed asset loan, the term does not exceed 8 years, the specific terms and time limit to the actual signed loan contract shall prevail. The company intends to provide joint and several liability guarantee for the above loan matters according to the shareholding ratio (60%). Another shareholder of Sheng Bo photoelectric, the actual controller of Jinhang investment, Jinjiang group undertakes to provide the corresponding guarantee according to its shareholding ratio (40%).

After this guarantee, the external guarantee balance of the company and the controlling subsidiary is 480 million yuan, accounting for 17.60% of the audited net assets of the company in 2019. Apart from this guarantee, the company and the controlling shareholder have not provided guarantee to the enterprises outside the consolidated statement. The company and its controlling shareholder have no overdue external guarantee, no external guarantee involving litigation and a loss due to the failure of the guarantee to be awarded.