ST Shuguang provides guarantees for subsidiary's financing

Liaoning SG Automotive Group (SSE:600303) has announced progress in providing external guarantees for its subsidiary, Liaoning Huanghai Automobile Import and Export Co., Ltd. Huanghai Automotive and Huanghai Special Vehicle is providing CNY 10 million in mortgage guarantees, while the company provides guarantee for Huanghai Import and Export's financing needs. As of the announcement date, the total guarantee amount provided to Huanghai Import and Export reached CNY 13 million. The company stated that it had internally approved the guarantees and that they fall within the scope authorized by the 2024 first Extraordinary General Meeting of Shareholders. The announcement also details the assets being used as collateral for the guarantee, primarily real estate and equipment held by the Huanghai Automotive subsidiary. As of December 31, 2024, Huanghai Import and Export has total assets of CNY 43.45 million, liabilities of CNY 33.83 million, and a net asset value of CNY 9.62 million.