Digital Building Materials DataBM. Com announced that the board of directors of Beibo had passed the Bill on the Company's Application for Comprehensive Credit from Subsidiaries to Banks and the Company's Guarantee for Them. It is agreed that the holding subsidiary Tianjin Beibo Glass Industry Technology Co., Ltd. (Hereinafter referred to as "Tianjin Beibo") intends to apply to the bank for a comprehensive credit line of no more than 80 million yuan in total (which can be used on a rolling basis within the line) for bank acceptance and bank guarantee in 2022. At the same time, the Company and Mr. Gao Qi, a natural person, shall provide guarantee for the credit matters of Tianjin Beibo by means of joint and several liability guarantee, that is, the Company's guarantee shall not exceed RMB72 million, Mr. Gao Qi's guarantee shall not exceed RMB8 million, and the guarantee balance at any time shall not exceed the approved guarantee limit.
The company said that on February 20, 2023, Tianjin Beibo signed the Maximum Guarantee Contract with Baodi Branch of Bank of China. Tianjin Beibo applied to Baodi Branch of Bank of China for a comprehensive credit line of 30 million yuan, and the company provided a joint and several liability guarantee of 27 million yuan. Mr. Gao Qi, another shareholder of Tianjin Beibo, also provided guarantee for the guarantee in proportion to his shareholding. The above guarantee matters are consistent with the situation considered by the board of directors, and the guarantee amount is within the limit approved by the board of directors of the company.
As at the date of this announcement, including this guarantee, the Company has provided a total guarantee of RMB70.2 million for Tianjin Beibo, a subsidiary of the Company, accounting for 4.58% and 2.81% of the audited net assets and total assets of the Company in 2021, respectively.
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