Stock Code: 000055, 200055 Stock ID: Fangda Group, Fangda B Announcement
No. 2013-24
China Fangda Group Co., Ltd.
Announcement on Providing of Guarantees for Its Fully-Owned
Subsidiaries
The Company and Directors guarantee the information disclosed is truthful,
accurate and complete and is free from any false, misleading or material omission.
I. About the guarantee
The Company provides guarantee for Shenzhen Fangda Decoration Co., Ltd.’s
application for integrated bank credit of RMB200 million to Shenzhen Branch, CITIC,
with a term of one year. The specific amount and term are subject to the contract
signed with the bank;
The Company provides guarantee for Shenzhen Fangda Automation Co., Ltd.’s
application for integrated bank credit of RMB100 million to Shenzhen Branch, CITIC,
with a term of one year. The specific amount and term are subject to the contract
signed with the bank;
On August 8, 2013, the Company approved the Proposal on Providing Guarantee
for Fully-Owned Subsidiaries on the 22nd meeting of the 6th Board of Directors to
approve the guarantee and authorize the Company’s legal representative to provide the
credit guarantee and sign related contracts and documents. The proposal was approved
with 7 in favor, 0 objection and 0 waive.
The guarantee is subject to approval of the Shareholders' Meeting and does not
constitute related transactions.
II. About the guaranteed parties
1. Guaranteed parties:
Shenzhen Fangda Decoration Engineering Co., Ltd. is a fully-owned subsidiary
of the Company. Established in Shenzhen in March 1993 with a registered capital of
RMB310 million and Xiong Jianwei as its legal representative, it is mainly engaged in
design, production and installation of building curtain walls; production, design and
installation of glass walls, windows and doors, fences and ceiling.
Shenzhen Fangda Automation Co., Ltd. is a fully-owned subsidiary of the
Company. Established in Shenzhen in August 2003 with a registered capital of
RMB105 million and Lin Kebin as its legal representative, it is mainly engaged in
transfer screen development, design processing, installation, processing, installation
and sales.
2. Share equity structure:
2.1 Shenzhen Fangda Decoration Engineering Co., Ltd.
China Fangda Group
100%
HK Junjia 75%
95%
25%
Fangda New Material (Jiangxi)
5%
Fangda Decoration
2.2 Shenzhen Fangda Automation Co., Ltd.
China Fangda Group
100%
HK Junjia 75%
95%
25%
Fangda New Material (Jiangxi)
90% 5%
Fangda Decoration
10%
Fangda Automation
3. Audited major financial statistics of the recent fiscal year and term (see
attachment)
III. Guarantee agreement
The guarantee agreement will be signed after it is reviewed and passed on the
Shareholders’ Meeting.
1. Guarantee form: Joint liability;
2. Amount: No more than RMB300 million
3. Term: Subject to the contract signed with the bank
IV. Opinion of the Board of Directors
Shenzhen Fangda Decoration Engineering Co., Ltd. and Shenzhen Fangda
Automation Co., Ltd. are fully-owned subsidiaries of the Company. The bank credit is
applied for to promote the business development. Therefore, the Board of Directors
approves the above-mentioned guarantees with joint liability.
There is no counter guarantee.
V. Amount of accumulative external and overdue guarantees
By July 31, 2013, the Company had made guarantees of RMB501,343,300, all of
which are made for fully-owned subsidiaries, accounting for 45.63% of the audited
net assets in 2012. There is no overdue guarantee.
The Company and its subsidiaries make no external guarantee.
VI. Reference
Resolutions of the 22nd Meeting of the 6th Board
Board of Directors of China Fangda Group Co., Ltd.
August 10, 2013
Attachment: Main financial performance of the recent fiscal year and term (in RMB10,000)
By Item Fangda Decoration Fangda Automation
Total
145,276.10 29,096.22
assets
Total
102,351.47 10,397.45
liabilities
December 31, 2012
Net assets 42,924.63 18,698.77
(audited)
Business
111,387.98 8,829.44
revenue
Total profit 4,894.96 413.42
Net profit 4,089.56 340.59
Total
163,189.24 27,056.97
assets
Total
117,197.13 7,512.31
liabilities
June 30, 2013
Net assets 45,992.11 19,544.66
(unaudited)
Business
60,202.40 4,773.81
revenue
Total profit 3,208.65 610.55
Net profit 2,715.37 505.31
