Gelonghui on May 27丨*ST Hanma (600375.SH) announced that the company and its wholly-owned subsidiary Anhui Valin Automobile Co., Ltd. were unable to repay some of their debts as scheduled and the guarantee was overdue due due to tight working capital. From the company's disclosure of the “Notice on Overdue Debts and Overdue Guarantees” on May 14, 2024 until the disclosure date of this announcement, the total overdue principal amount of the company and its subsidiary Valin Auto's new debt was RMB 10,240 million, accounting for 12.57% of the absolute value of the company's most recent audited net assets. The company provided joint and several liability guarantees for the overdue debts of its subsidiary Valin Automobile.
As of the disclosure date of this announcement, the total amount of the company's external guarantees is estimated at RMB 4810 million. Of these, the total repurchase guarantee amount for customers who purchase the Company's products and carry out credit sales business such as mortgage loans and financial leasing companies does not exceed RMB 230,000 million, and the total amount of guarantee provided to subsidiaries applying for comprehensive credit lines from banks and financial leasing institutions does not exceed RMB 2510 million. The total amount of the company's external guarantees exceeds 100% of the most recent audited net assets. Investors are kindly requested to pay full attention to the company's guarantee risk.