Gexin Energy (002015): Progress In Providing Guarantees To Subsidiaries

Securities code: 002015 securities short: Union XINCAN bulletin number: 2020-052

GCL energy Polytron Technologies Inc's progress announcement on providing guarantees to subsidiaries

All members of the company and the board of directors guarantee the authenticity, accuracy and completeness of the information disclosure, without any false record, misleading statement or major omission.

I. summary of the guarantee situation:

(1) the ninth meeting of the sixth board of directors of the Cong energy Polytron Technologies Inc (hereinafter referred to as "the company") considered and adopted the motion on the application of credit and external guarantee amount to the financing institutions in 2019 in May 31, 2019. The Board agreed that 2019 companies (including wholly owned and holding subsidiary companies) should apply to the financing institutions for the total credit amount of 23 billion 415 million yuan RMB comprehensive credit, while providing guarantee and counter guarantee for wholly owned and holding subsidiaries to apply for bank credit and financing matters to other financing institutions, and wholly owned and affiliated companies to guarantee the company's financing matters. The total amount guaranteed is not more than that.

20 billion 415 million yuan. The authorized period of this credit and guarantee is from the date of deliberation of the shareholders' meeting to the date of the 2019 annual general meeting. The board of directors invited the general manager of Licensing companies general meeting to be responsible for the specific organization, implementation and signing of relevant contracts and documents, and the Licensing companies management should appropriately adjust the line of credit and guarantee amount between the wholly owned and controlling subsidiaries according to the actual operating needs within the total credit amount and the scope of the external guarantee.

The specific contents are detailed in the announcement of the company's announcement on the application of credit and guarantee to the financing institutions in 2019 in June 1, 2019 (Bulletin number: 2019-041).

The above guarantee has been examined and approved by the company at its first provisional shareholders' meeting on 2019, June 18, 2019.

(two) the sixteenth meeting of the seventh board of directors, held in April 28, 2020, examined and approved the motion on the estimated amount of external guarantee for 2020. The Board agreed that 2020 companies (including holding subsidiaries) would provide external guarantees for their subordinates to apply for bank credit and daily operation, with the maximum guarantee amount of RMB 19 billion 974 million yuan. The guarantee method includes, but is not limited to, guaranty guarantee, asset mortgage, pledge, etc., if a subsidiary company applies a third party institution to guarantee its application in bank credit, the company shall also guarantee the company.

(including holding subsidiaries) can provide corresponding counter guarantee for the third party organizations. The amount of guarantee provided by a company (including a controlling shareholder) to a subsidiary within the consolidated financial statements is 19 billion 434 million yuan, of which the amount of guarantee provided by a subsidiary whose assets and liabilities ratio is less than 70% is not more than 11 billion 146 million yuan, and the guarantee amount for a subsidiary whose assets and liabilities ratio is above 70% is not more than 8 billion 288 million yuan. The authorized period of this guarantee is within twelve months from the date of deliberation of the company's annual general meeting in 2019. The board of directors invited the general manager of Licensing companies to be responsible for the specific organization, implementation and signing of relevant contracts and documents, and Licensing companies management appropriately adjusted the guarantee amount of each subordinate company within the permitted scope of laws and regulations according to the actual operation needs. For details, please see the announcement on the external guarantee amount in 2020 announced by the company in April 30, 2020 (Bulletin number: 2020-041).

The above guarantee items have been examined and approved by the company at the annual general meeting held in 2019 in May 20, 2020.

Two. Progress in external guarantees

In 1 and April 26, 2020, Fengxian County Xinyuan biomass environmental protection thermoelectric Co., Ltd. (hereinafter referred to as "Fengxian County Xinyuan") and the Xuzhou Huaihai rural commercial bank Limited by Share Ltd (hereinafter referred to as Huaihai agricultural commercial bank) signed the "guarantee contract", which is about Fengxian County Xinyuan as the Fengxian County Xincheng environmental protection thermoelectric Co., Ltd. (hereinafter referred to as "Fengxian County Xin Cheng"). Huaihai agricultural business bank applied for 17 million 500 thousand yuan RMB short-term liquidity loan to provide joint and several liability guarantee. The scope guaranteed is the creditor's right formed by Fengxian County Xincheng in the 17 million 500 thousand yuan credit line from April 26, 2020 to April 2021 and the various banking businesses agreed by Huaihai agricultural commercial bank between 25 yuan and April 2021.

The above guarantee amount is within the limits approved by the shareholders' meeting of the company.

As of the announcement date, the actual guarantee amount under the guarantee contract is RMB 17 million 500 thousand yuan.

In 2 and May 21, 2020, Dongtai Suzhong environmental protection thermoelectric Co., Ltd. (hereinafter referred to as "Dongtai thermoelectric power") applied for RMB 2 to Jiangsu Dongtai rural commercial bank Limited by Share Ltd (hereinafter referred to as "Dongtai rural commercial bank"). 000 yuan of working capital loans, the debt from Dongtai credit financing Company Limited by Guarantee (hereinafter referred to as "Dongtai guarantee") to provide joint and several liability guarantee, and the company and its subsidiary company Xin Xin energy Limited by Share Ltd (hereinafter referred to as "Xin Xin intelligent energy") for the Dongtai guarantee to provide counter guarantee, the company and Xin Xin energy and Dongtai guarantee signed. The "anti guarantee contract" provides a series of guarantee for Dongtai thermoelectricity between May 26, 2020 and May 25, 2021 on the guarantee of Dongtai.

The creditor's rights formed are jointly and severally liable to guarantee counter guarantee.

The above guarantee amount is within the limits approved by the shareholders' meeting of the company. As of the date of this announcement, the actual amount of guarantee under the counter guarantee contract is RMB 20 million yuan.

In 3 and May 22, 2020, the company's controlling subsidiary, Xinxin energy environmental protection Co., Ltd., Fengxian County Xincheng environmental protection Co., Ltd. (hereinafter referred to as "Fengxian County Xin Cheng") and Ningbo JT Financial Leasing Co., Ltd. (hereinafter referred to as "Jin Tong lease") signed the "enterprise guarantee book". The company (hereinafter referred to as "Fengxian County Xinyuan") applied for 10. The guaranty guarantee of joint and several liability is provided for the 000 yuan RMB after sales leaseback financial leasing business, which is guaranteed by all the claims of Fengxian County based Xinyuan, including rent, overdue interest, penalty interest, penalty for breach of contract, compensation for damages, and all reasonable expenses incurred due to the realization of claims. The guarantee period is from May 25, 2020 to May 24, 2025.

The above guarantee amount is within the limits approved by the shareholders' meeting of the company.

As of the date of announcement of this announcement, the actual guarantee amount under the enterprise guarantee is RMB 100 million yuan.

In 4 and June 3, 2020, the company signed the guarantee contract with the China Aviation International Leasing Co., Ltd. (hereinafter referred to as "Air China Leasing"). The company's controlling subsidiary, Xinxin intelligent energy and Air China Leasing signed the "equity pledge contract". The company agreed to apply for 13 of the Yangzhou port sludge Power Generation Co., Ltd. (hereinafter referred to as the "Yangzhou port") by the company's intelligent energy. The guarantee and guarantee of collateral are provided for the 000 yuan RMB after sale and leaseback financial leasing business. The scope of the guarantee is guaranteed by Yangzhou port under the lease contract and transfer contract. The guarantee period is from June 3, 2020 to June 3, 2028.

The above guarantee amount is within the limits approved by the shareholders' meeting of the company.

As of the date of announcement, the actual guarantee amount under the guarantee contract and the equity pledge contract was 0 yuan.

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

As of the announcement date, the company's external security situation is as follows:

Unit of value: 10000 yuan

Guarantee situation

The company and its controlling subsidiary have not committed any overdue guarantee, involved in the guarantee of the litigation and should be liable for losses due to the failure of the guarantee.

Notice hereby.

Board of directors of Xin Xin energy Polytron Technologies Inc

June 10, 2020