Oriental Yuhong Provides Total Guarantee of 1.145 Billion Yuan for Six Subsidiary Companies

China Economic Net Beijing, March 16 — Oriental Yuhong (002271.SZ) announced on March 14 the progress of providing guarantees to its subsidiaries.

The announcement shows that the company signed a “Maximum Guarantee Contract” with China Minsheng Bank Co., Ltd., Tangshan Branch (hereinafter referred to as “Minsheng Bank Tangshan Branch”). The company provides joint liability guarantees for a series of debts under the main contract between Minsheng Bank Tangshan Branch and the company’s wholly-owned subsidiary, Tangshan Oriental Yuhong Waterproof Technology Co., Ltd. (hereinafter referred to as “Tangshan Technology Company”). The guarantee period is three years from the maturity date of the debt performance period. The maximum principal amount of the guarantee is 80 million RMB.

The company also signed a “Maximum Guarantee Contract” with Industrial and Commercial Bank of China Limited, Huizhou Binhai Branch (hereinafter “ICBC Huizhou Binhai Branch”). The company provides joint liability guarantees for a series of debts under the main contract between ICBC Huizhou Binhai Branch and the company’s wholly-owned subsidiary, Huizhou Oriental Yuhong Building Materials Co., Ltd. (hereinafter “Huizhou Oriental Yuhong”). The guarantee period is three years from the date of occurrence, expiration, or early maturity of the business under the autonomous contract. The maximum principal amount of the guarantee is 50 million RMB.

The company signed a “Maximum Guarantee Contract” with China Construction Bank, Yueyang Branch (hereinafter “CCB Yueyang Branch”). The company provides joint liability guarantees for a series of debts under the main contract between CCB Yueyang Branch and the company’s holding subsidiary, Yueyang Oriental Yuhong Waterproof Technology Co., Ltd. (hereinafter “Yueyang Technology Company”). The guarantee period is from the date of signing the main contract of each credit business until three years after the debt performance period under that main contract expires. The maximum debt amount guaranteed is 800 million RMB.

The company signed a “Maximum Guarantee Contract” with Huishang Bank Co., Ltd., Wuhu Zhongshan South Road Branch (hereinafter “Huishang Bank Wuhu Zhongshan South Road Branch”). The company provides joint liability guarantees for a series of debts under the main contract between Huishang Bank Wuhu Zhongshan South Road Branch and the company’s wholly-owned subsidiary, Wuhu Oriental Yuhong Building Materials Co., Ltd. (hereinafter “Wuhu Oriental Yuhong”). The guarantee period is three years from the expiry of the debt performance period of each credit. The maximum principal amount of the guarantee is 45 million RMB.

The company signed a “Maximum Guarantee Contract” with Shanghai Pudong Development Bank Co., Ltd., Zhengzhou Branch (hereinafter “SPD Bank Zhengzhou Branch”). The company provides joint liability guarantees for a series of debts under the main contract between SPD Bank Zhengzhou Branch and the company’s wholly-owned subsidiary, Henan Oriental Yuhong Building Materials Co., Ltd. (hereinafter “Henan Oriental Yuhong”). The guarantee period is from the expiry of each debt contract’s performance period to three years after that date. The maximum debt guarantee amount is 110 million RMB.

The company signed a “Maximum Guarantee Contract” with Shanghai Pudong Development Bank Co., Ltd., Chongqing Branch (hereinafter “SPD Bank Chongqing Branch”). The company provides joint liability guarantees for a series of debts under the main contract between SPD Bank Chongqing Branch and the company’s wholly-owned subsidiary, Chongqing Oriental Yuhong Building Materials Co., Ltd. (hereinafter “Chongqing Oriental Yuhong”). The guarantee period is from the expiry of each debt contract’s performance period to three years after that date. The maximum principal guarantee amount is up to 60 million RMB.

In total, Yuhong has provided guarantees totaling 1.145 billion RMB for the six subsidiaries mentioned above.

On February 27, 2025, the 28th meeting of the 8th Board of Directors and the annual general meeting of shareholders held on March 21, 2025, approved the proposal “Regarding Guarantees for Subsidiaries Applying for Comprehensive Credit Lines from Banks and Other Financial Institutions.” The company and its wholly-owned and controlling subsidiaries are authorized to provide guarantees not exceeding 26 billion RMB in total for subsidiaries applying for comprehensive credit lines from banks and financial institutions. The guarantee limits are: up to 1.3 billion RMB for Tangshan Technology, up to 600 million RMB for Huizhou Oriental Yuhong, up to 900 million RMB for Yueyang Technology, up to 1.1 billion RMB for Wuhu Oriental Yuhong, up to 2 billion RMB for Henan Oriental Yuhong, and up to 100 million RMB for Chongqing Oriental Yuhong.

Additionally, the shareholders’ meeting authorized the company’s chairman or other authorized personnel to adjust the guarantee limits among subsidiaries within the total approved guarantee amount, based on actual operational needs. They may also allocate guarantees to newly established or acquired subsidiaries within the approved total guarantee limit.

Based on operational needs, the company’s chairman or authorized personnel adjusted the guarantee limits between Tianjin Hongzhi New Materials Co., Ltd. and Chongqing Oriental Yuhong within the total guarantee limit of 26 billion RMB approved at the 2024 annual shareholders’ meeting. The guarantee limit for Tianjin Hongzhi New Materials was reduced by 100 million RMB to 270 million RMB (originally up to 370 million RMB, after transferring 350 million RMB to Yangpu Oriental Yuhong Building Materials Co., Ltd., the remaining limit was reduced from 720 million RMB to 370 million RMB). The guarantee limit for Chongqing Oriental Yuhong was increased by 100 million RMB to 200 million RMB. The total amount of this adjustment did not exceed 10% of the company’s latest audited net assets.

After the actual guarantee implementation, the company’s guarantee amounts are as follows:

• Tangshan Technology: 380 million RMB (including 300 million RMB already guaranteed after the 2024 shareholders’ meeting approval; this time, an additional 80 million RMB), remaining available guarantee limit: 920 million RMB.
• Huizhou Oriental Yuhong: 254 million RMB (including 204 million RMB already guaranteed before the 2024 approval; this time, an additional 50 million RMB), remaining limit: 550 million RMB.
• Yueyang Technology: 1,239.5124 million RMB (including 439.5124 million RMB already guaranteed before the 2024 approval; this time, 800 million RMB), remaining limit: 100 million RMB.
• Wuhu Oriental Yuhong: 385 million RMB (including 340 million RMB already guaranteed before the 2024 approval; this time, 45 million RMB), remaining limit: 1,055 million RMB.
• Henan Oriental Yuhong: 830 million RMB (including 100 million RMB already guaranteed before the 2024 approval; 620 million RMB after the 2024 approval; this time, 110 million RMB), remaining limit: 1,270 million RMB.
• Chongqing Oriental Yuhong: 120 million RMB (including 60 million RMB already guaranteed after the 2024 approval; this time, 60 million RMB), remaining limit: 80 million RMB.

As of the disclosure date, the total guarantee balance for the company and its wholly-owned and controlling subsidiaries is 5,455.899 million RMB, accounting for 21.88% of the company’s audited net assets as of December 31, 2024. Specifically:

• Guarantees provided to subsidiaries: 5,455.899 million RMB, 21.88% of net assets.
• External guarantees: 0.00 RMB, 0.00% of net assets. Including the newly approved guarantee limits, the total guarantee amount for the company and its subsidiaries is 6,600.899 million RMB, accounting for 26.47% of net assets. The guarantees are all within the company’s permissible limits, and there are no overdue external guarantees, litigation-related guarantees, or losses incurred due to guarantees being judged against the company.

(责任编辑：关婧)