SESPACE provides over 100 million yuan in guarantees for its subsidiary, with controllable risks within the limit

Zhitong
2025.10.13 08:47

Zhejiang Southeast Space Frame Co., Ltd. announced the progress of guarantees for its subsidiaries. The company has signed "Maximum Guarantee Contracts" with Xiaoshan Rural Commercial Bank and Bank of China Xiaoshan Branch for the operational needs of its wholly-owned subsidiaries, Southeast Steel Products and Southeast Carbon Neutrality, with maximum financing limits of RMB 70 million and a maximum principal balance of RMB 35 million, respectively. The company estimates that the total amount of guarantees for its subsidiaries in 2025 will not exceed RMB 805 million, and this guarantee is within the limit, with an available amount of RMB 735.5 million after occurrence. The financial conditions of the two subsidiaries differ, with Southeast Steel Products having a debt-to-asset ratio of 96.83% as of June 2025, while Southeast Carbon Neutrality stands at 64.40%. The board of directors believes that the guarantee risk is controllable. As of the announcement date, the actual guarantee balance accounts for 26.07% of the audited net assets at the end of 2024, with no overdue or other adverse guarantee situations

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