Stock Code: 000055, 200055 Stock ID: Fangda Group, Fangda B
Announcement No. 2012-30
China Fangda Group Co., Ltd.
Announcement on Providing Guarantee to Fully-owned Subsidiaries
The members of the Board and the Company acknowledge being responsible for the
truthfulness, accuracy, and completeness of the announcement. Not any false record,
misleading statement or significant omission carried in this announcement.
I. Preface of the guarantee
The Company is about to provide Shenzhen Fangda Decoration Engineering Co., Ltd.
– the fully owned subsidiary, the guarantee for RMB30 million of integrated credit
from China Construction Bank Shenzhen Branch, the actual term will be decided by
the contract entered with the bank.
The legal representative of the Company is authorized to handle the relative
procedures and enter contracts and documents.
The proposal of providing guarantee to fully-owned subsidiary was adopted at the
12th meeting of the 6th term of Board held on July 4, 2012, with 7 votes in favor, 0
objection, and 0 waive.
The above guarantees are subject to approval of the Shareholders’ Meeting, and no
related transaction is formed about these guarantees.
II. Profiles of the warrantee
1. Profiles of the beneficiaries:
Shenzhen Fangda Decoration Engineering Co., Ltd. is one of the fully-owned
subsidiaries of the Company founded in March 1993 in Shenzhen. The company was
incorporated with capital of RMB310 million. Mr. Xiong Jianwei is the legal
representative. The main businesses of the company are: designing, manufacturing
and installation of curtain walls, glass walls, doors and windows, fences, and glass
roof.
2. Share structure of Shenzhen Fangda Decoration Engineering Co., Ltd.
China Fangda Group Co., Ltd.
100%
Hong Kong Junjia Co., Ltd. 75%
95%
25%
Fangda New Material (Jiangxi) Co., Ltd.
5%
Shenzhen Fangda Decoration Engineering Co., Ltd.
3. Main financial indices at the end of 2011 and the 1st quarter of 2012 (not audited,
in RMB10 thousand)
Items Dec 31 2011 Mar 31 2012
Total of assets 116,924.54 119,529.82
Total of liability 80,889.47 76,274.80
Net asset 36,035.07 43,255.02
Turnover 102,284.04 19,129.27
Total profit 6,921.67 1,443.55
Net profit 5,855.63 1,227.75
III. Main contents of the guarantee agreements
The guarantee agreements will be engaged upon approval by the Shareholders’
Meeting. There main contents will be:
1. Type of guarantee: guarantee with joint liability
2. Amount of guarantee: not more than RMB30 million.
3. Term of guarantee: as stipulated by the contract entered with the bank
IV. Opinions of the Board
Shenzhen Fangda Decoration Engineering Co., Ltd. is one of the fully-owned
subsidiaries of the Company. Applying of bank credit of RMB30 million is to meet
with the needs of business operations. Providing of guarantees to Fangda Decoration
by the Company is to the consent of the Board.
There isn’t any counter guarantee.
V. Accumulated external guarantees and overdue guarantees
So far, the Company has provided RMB415,775,253 of guarantees to the fully-owned
subsidiaries, accounted for 38.72% of the audited net asset, and none of them is
overdue.
None of the Company or the subsidiaries has provided guarantees to external parties.
VI. Documents for reference
Resolutions of the 12th meeting of the 6th term of Board.
The Board of Directors of
China Fangda Group Co., Ltd.
July 5, 2012
