China Marine Information Electronics boosts subsidiary’s financing with new guarantee

China Marine Information Electronics (SSE:600764) announced a new guarantee for its wholly-owned subsidiary, CSSC Double-Way Intelligent Equipment Co., Ltd. The guarantee, amounting to 10 million yuan, was provided to CSSC Finance Co., Ltd. and brings the total guarantee amount for Double-Way Intelligent to 45 million yuan as of the announcement date. This action falls within the approved guarantee limits set by the company's 2024 annual general meeting.

CSSC Double-Way Intelligent Equipment Co., Ltd., established in December 2013 with a registered capital of 50 million yuan, is a key entity in the group, focusing on intelligent equipment and industrial control systems. As of December 31, 2024, it reported total assets of 32,073.75 million yuan and net assets of 7,524.50 million yuan, with a net profit of 174.68 million yuan for the full year 2024.

The company's board stated that these guarantees are necessary for the normal operations of its subsidiaries and do not negatively impact shareholder interests. All current external guarantees are for controlled subsidiaries and represent 2.99% of the parent company's audited net assets as of December 31, 2024, totaling 243.70 million yuan. No overdue external guarantees or guarantees for controlling shareholders or related parties exist.