On 25 august 2025, hubei three gorges tourism group inc. Issued a public notice of its revised external guarantee management system of august 2025。
The system is designed to protect investors ' interests, regulate corporate external guarantees, guard against security risks and ensure asset security. The system applies to companies, holding subsidiaries and equity firms that have a significant influence on the company. Foreign guarantees are governed by the principles of safety, equality, voluntariness, fairness, integrity and mutual benefit。
In the context of the review of the subject of external guarantees, the board of directors is required to have knowledge of the debtor's status prior to its consideration, and the guarantor is required to provide a variety of types of information, such as basic information on the business, financial statements, information on the status of the credit. The processing department investigates the authenticity of the information, solvency, etc., makes a recommendation for guarantees based on the results of the credit evaluation, and the approving authority determines the guarantee on the basis of the relevant information。
Procedures for securing performance are stringent. A company's guarantee is subject to a majority of all directors, and more than two thirds of the board members attending the board meeting agree and resolve for timely disclosure. In specific cases, the shareholders will also need to consider, for example, the total amount of external guarantees over 50 per cent of the net assets audited in the most recent period. When security is granted to controlling shareholders, etc., it should provide counter-guarantees; shareholders or directors in interest will recuse themselves from voting when the shareholders ' conference or board resolution is made. When the company guarantees subsidiaries and equity participants, other shareholders should provide proportionately equivalent risk control measures such as guarantees。
In the case of the formation of a guarantee contract and risk management, the guarantee is subject to a written contract, and the financial management department enters into a draft in consultation with the guarantor and the relevant department reviews the terms. The law requires the registration of mortgages and pledges within 20 days. The department of financial management is the day-to-day manager responsible for the preservation of contracts, the tracking of borrowing operations, etc。
The person concerned is held liable if he or she does not exceed his or her rights under the regime by entering into a security contract or by breach of the security. The system is not fully implemented in accordance with the laws and regulations and by-laws of the company. It is developed, amended and interpreted by the board of directors and is implemented as of the date of its adoption by the shareholders ' council。
