Stock Code: 200771 Stock ID: Hangqilun B Announcement No.：2024-52
Announcement on the External Guarantee by the Company’s Subsidiary of
Hangzhou Turbine Power Group Co., Ltd.
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. Overview of the guarantee
Anhui Hangzhou Turbine Casting and Forging Technology Co., Ltd. (hereinafter referred to as "
Anhui Casting and Forging Company"). is a holding subsidiary of Hangzhou Turbine Casting
and Forging Co., Ltd. (hereinafter referred to as "Casting and Forging Company")-a holding
subsidiary of the Company, and in order to meet the construction requirements of its precision
intelligent steel casting and forging processing production line project with an annual output of
100,000 tons of steam turbine core components (For details, please see the Announcement No.
2021-82-"Announcement on External Investment of Casting and Forging Company" issued by
the Company on September 28, 2021) , it applied for a credit loan of 220 million yuan from
Hangzhou Xincheng Branch of Agricultural Bank of China (hereinafter referred to as
Agricultural Bank of China), The credit guarantee line required by the Agricultural Bank of
China is 105.81 million yuan, and the casting and forging company provides a guarantee of
54.53 million yuan for Anhui casting and forging company according to the proportion of
shareholding, with the guarantee method is joint and several liability guarantee.
According to the relevant regulations of listed companies, if the Company's holding
subsidiary provides external guarantees, and the guarantee object is the holding subsidiary within
the scope of the company's consolidated statements, the company shall timely perform the
temporary information disclosure obligation after the holding subsidiary has completed the
review procedure. The above guarantee has been deliberated and approved by the shareholders'
meeting of the casting and forging company.
II. Basic information of the guaranteed
1. Name of the guaranteed: Anhui Hangzhou Turbine Casting and Forging Technology Co., Ltd
2.Unified social credit code: 91340222MA8NDNRE22
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3.Date of establishment: November 15, 2021
4.Registration location: Room 106, Building 5, Zhuoyuan Community, Suncun Town, Fanchang
District, Wuhu City, Anhui Province
5.Legal representative: Yu Junming
6.Registered capital: 130 million yuan
7. Main business: general projects: new material technology research and development; ferrous
metal casting; manufacturing of forgings and powder metallurgy products; general equipment
repair; repair of special equipment; sales of high-quality special steel materials; sales of metal
materials; sales of forgings and powder metallurgy products; Import and export of goods (except
for licensed business, can independently operate items that are not prohibited or restricted by
laws and regulations in accordance with the law)
8. Relationship with the Company: Anhui Casting and Forging Company is a holding
subsidiary of the Casting and Forging Company, which holds 51.53846% shares of the Casting
and Forging Company; The Company holds 39.18966% equity of the Casting and Forging
Company.
9.The guarantor of the recent financial situation:
In RMB 10,000
Year 2023 June 2024
Total assets 12,791 15,530
Net assets 11,841 12,657
Liabilities ratio 7.43% 18.50%
Revenue 1 1
Total profit -153 -154
Net profit -153 -154
10. Contingencies
No contingencies such as guarantee, mortgage, litigation or arbitration.
11. Untrustworthiness
Anhui Casting and Forging Company is not a dishonest person subject to execution.
III. The main content of the guarantee agreement
(1) The main contents of the "Maximum Guarantee Contract" signed between the casting
and forging company and the Agricultural Bank of China:
1. The maximum amount of guarantee: 54.53 million yuan
2. Guarantee method: joint and several liability guarantee
3. Scope of guarantee: the principal of the loan, interest, penalty interest, compound interest,
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liquidated damages, damages, interest on delayed performance of debts and delayed performance
fees to be borne by the debtor and the guarantor in accordance with the relevant provisions of the
Civil Procedure Law of the People's Republic of China, preservation insurance premiums,
litigation (arbitration) fees, attorney fees, and all expenses for creditors to realize their claims.
4. Guarantee period: three years from the date of expiration of the performance period of the
main creditor's right, and the guarantee period under each main contract shall be calculated
separately. If there are installment performance obligations under the main contract, the
guarantee period of the main contract shall be three years from the date of expiration of the
performance period of the last installment of the debt.
5. The main claim occurrence period is: July 8, 2024 to July 7, 2030.
IV. Opinion of the Board of Directors
In order to meet the funds required for the construction of its precision intelligent steel
castings and forging processing production line project with an annual output of 100,000 tons of
steam turbine core components, Anhui Casting and Forging Company applied for a credit loan
from the bank. The casting and forging company provides a guarantee for its holding
subsidiary-Anhui Casting and Forging Company, which can help it obtain bank loans and carry
out project construction activities smoothly.
The construction of Anhui Casting and Forging Company will be conducive to making the
company's casting and forging business bigger and stronger, accelerating the realization of the
Company's industrialization development strategy, and will also play an agglomeration effect to
form large-scale production and large-scale processing, and the project prospect is good, and the
board of directors considers that the guarantee provided to Anhui Casting and Forging Company
will not have a negative impact on the Company.
The guarantee amount provided by the casting and forging company to Anhui Casting and
Forging Company this time is 54.53 million yuan. The other two shareholders of Anhui
Company are Wuhu Fanchang Chungu Industrial Investment Fund Co., Ltd. (hereinafter referred
to as "Chungu Company") and Zhejiang Dajiang New Materials Co., Ltd. (hereinafter referred to
as "Dajiang Company"), with shareholding ratios of 25.38462% and 23.07692%respectively.
Among them, Dajiang Company provided a guarantee of 28.5 million yuan for this loan, which
has reached its shareholding ratio, while Chungu Company is an industrial investment fund
company under the state-owned assets of Fanchang District Government in Wuhu City. Due to
its fund management system requirements, it is unable to provide guarantees for the invested
enterprises. This guarantee is to ensure that the Anhui Casting and Forging Company project will
be completed and put into operation as soon as possible. Currently, the civil construction
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progress of the project is fast, and the equipment installation is implemented synchronously. It is
expected to start production by the end of 2024.
V. Cumulative Amount of External Guarantee and Amount of Overdue Guarantee
After this guarantee, the total amount of guarantee of the Company and its holding
subsidiaries is 1,177,530,000 yuan, and the total balance of external guarantees of the Company
and its holding subsidiaries accounts for 14.91% of the Company's audited net assets in 2023
(7,899,275,900 yuan).
The balance of the guarantee corresponding to the overdue debt, the amount of the
guarantee involved in the lawsuit, and the amount of the guarantee that should be borne due to
the judgment of losing the lawsuit are all 0 yuan.
VI. Documents for reference
1.The guarantee contract signed between the Casting and Forging Company and the Bank
This announcement is hereby made.
The Board of Directors of Hangzhou Turbine Power Group Co., Ltd.
August 3,2024
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