Sinotrans (00598) plans to provide guarantees for the Qingdao supply chain to launch a designated delivery warehouse business for No. 20 rubber futures with Shanghai Energy

Zhitong Finance ·  Feb 2 05:03

Zhitong Finance App News, China Sinotrans (00598) announced that the company now provides guarantees for the company's wholly-owned subsidiary Qingdao Supply Chain to carry out designated delivery warehouse business for No. 20 futures in Shanghai International Energy Trading Center Co., Ltd. (abbreviation: First Term Energy), including providing an unfixed amount of qualification guarantee for all operations of Qingdao Supply Chain No. 20 futures products, such as storage, storage, shipment, and delivery of No. 20 rubber futures products. It also assumes full irrevocable joint guarantee responsibility; and the Qingdao supply chain carries out polypropylene and wire for the Dalian Commodity Exchange (abbreviation: Dashang) Low-density polyethylene futures The designated delivery warehouse business provides guarantees, and bears joint guarantee liability for an unfixed amount of money for the Qingdao supply chain engaged in polypropylene, linear low-density polyethylene futures delivery and other related businesses. Prior to this guarantee, the guarantee balance provided by the company to the Qingdao supply chain was 0 yuan, but there was an unfixed guarantee for its futures designated delivery warehouse business (unit: RMB, same below).

According to the announcement, the company's provision of the above guarantees for the Qingdao supply chain is mainly to meet its daily operation and business development needs, which is conducive to its steady operation and long-term development. The board of directors believes that the Qingdao supply chain has the ability to repay debts, and the guarantee risk is generally manageable. Qingdao Supply Chain is a wholly-owned subsidiary of the company. The company can grasp its daily business activities, credit status, cash flow and financial changes in a timely manner, and guarantee risks are manageable. In summary, this guarantee did not harm the interests of the company and all shareholders, especially small and medium shareholders.

As of the date of this announcement, after this guarantee, the total amount of external guarantees provided by the company and its holding subsidiaries was about 9.324 billion yuan, the total guarantee provided by the company to the holding subsidiary was about 7.247 billion yuan, and the total guarantee provided by the company to the controlling shareholders, actual controllers and their affiliates was about 846 million yuan. The above amounts respectively accounted for 25.29%, 19.66% and 2.29% of the listed company's most recent audited net assets.

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