According to Zhitong Finance App, Tianjin Chuangye Environmental Protection Co., Ltd. (01065) announced that the company's wholly-owned subsidiary, Tianjin Jiayuansheng Innovative Energy Technology Co., Ltd. (hereinafter referred to as “Jiayuan Shengchuang Company”), was established in July 2015 with a registered capital of 54 million yuan, mainly engaged in energy saving and environmental protection, new energy technology development, consulting, service, transfer, property management, cooling services, heating services, etc.
In May 2016, Jiayuan Shengchuang Company signed a franchise agreement with the Tianjin Urban and Rural Development Commission (currently the Tianjin Municipal Housing and Urban-Rural Development Commission) to invest in the investment, construction and operation of Tianjin Houtai Scenic Area 2 #能源站项目 (hereinafter referred to as the “project”). The franchise period is 30 years. The total investment of the project is 183 million yuan. In order to ensure the normal implementation of the project, Jiayuan Shengchuang Company plans to apply for a loan withdrawal of no more than 115 million yuan from the bank, and the company will provide a full guarantee; Jiayuan Shengchuang Company will provide a counterguarantee for the future income of the project no less than the amount of the company's guarantee.
The scope of the guarantee provided by the Company to Jiayuan Shengchuang Company is the entire debt under the loan contract signed with the loan bank, including the loan principal amount not exceeding RMB 115 million under the loan contract, as well as interest, penalties, penalties and all other related expenses. The Company shall be jointly and severally liable for the settlement of all debts covered by the above guarantees, both economically and legally.