On September 6, Gelonhui reported that *ST Hanma (600375.SH) announced that the company and its wholly-owned subsidiary Anhui Hualing Automobile Co., Ltd. (referred to as "Hualing Automobile") experienced a situation of tight liquidity, with some debts unable to be repaid on time and guarantees overdue. From the disclosure of the "Announcement on Debt Default and Guarantee Overdue" on August 24, 2024, to the date of this announcement, the company and its subsidiary Hualing Automobile added a total of RMB 136 million in overdue debts, accounting for 16.70% 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 Hualing Automobile.
As of the date of this announcement, the company's total external guarantees are expected to be RMB 4,810 million. This includes providing repurchase guarantees totaling no more than RMB 2,300 million to customers who engage in credit sales business such as mortgage loans and confirmed warehousing with banks and financial leasing companies for purchasing the company's products, and providing guarantees totaling no more than RMB 2,510 million for the comprehensive credit limits applied by subsidiaries to banks and financial leasing institutions. The company's total external guarantees exceed 100% of the most recent audited net assets, and we kindly remind all investors to pay full attention to the company's guarantee risks.
