Securities code: 600237 Securities for short: Tongfeng Electronic Announcement Number: Lin 2021-027

Anhui Tongfeng Electronic Co., Ltd. on the wholly-owned subsidiary -- Wenzhou Tongfeng Electronic Materials Co., Ltd. to provide guarantee progress announcement

The board of directors and all the directors of the Company warrant that there is no false record, misleading statement or material omission in the content of this announcement, and bear individual and joint liability for the authenticity, accuracy and completeness of the content.
Important content Tips:
● Name of Guarantor: wholly owned subsidiary ----- Wenzhou Tongfeng Electronic Materials Co., LTD
● Guarantee quantity: This time for Wenzhou Tongfeng Electronic Materials Co., Ltd. to apply for credit to provide the maximum limit of RMB 5.5 million guarantee. Up to now, the company has not provided guarantee for Wenzhou Tongfeng Electronic Materials Co., LTD.
● Whether this guarantee has a counter-guarantee: None
Total amount of external guarantee: 2,433,500 yuan (excluding this guarantee)
● External guarantee overdue cumulative number: none
I. Overview of the guarantee situation
On February 5, 2021, the third meeting of the ninth Board of Directors of Anhui Tongfeng Electronics Co., LTD. (hereinafter referred to as the "Company") deliberated and passed the Proposal on the expected guarantee amount for wholly-owned and controlling subsidiaries in 2021, agreeing that the Company would provide comprehensive credit guarantee for wholly-owned and controlling subsidiaries with a total amount not exceeding 80 million yuan. For each subsidiary working capital turnover business type of guarantee. It agrees to provide a guarantee limit of no more than RMB 20 million for its wholly-owned subsidiary Wenzhou Tongfeng Electronic Materials Co., LTD. (hereinafter referred to as "Wenzhou Tongfeng") (as detailed in the Company's announcement on the Shanghai Stock Exchange website and the Company's designated media on February 6, 2021).
Recently, the company and Yongjia Sub-branch of China Construction Bank (hereinafter referred to as "Yongjia Sub-branch") signed the "maximum guarantee contract", the company will provide Wenzhou Tongfeng to apply for the loan with a maximum limit of 5.5 million yuan, the guarantee period is three years, the guarantee way is joint liability guarantee.
Ii. Basic Information of the Guaranteed
Wenzhou Tongfeng was established on August 24, 2001. The company's residence is Dongmeng Industrial Zone, Wuniu Town, Yongjia County, Wenzhou City, Zhejiang Province, with a registered capital of 35 million RMB. The company mainly produces and sells metallized film and related electronic materials.
According to the audit report issued by Rongcheng Certified Public Accountants (Special General Partnership), as of December 31, 2020, Wenzhou Tongfeng had total assets of RMB 64,334,100, total liabilities of RMB 22.614,700, and owners' equity of RMB 41.719,400. In 2020, the company achieved a revenue of 39,082,600 yuan and a net profit of 1,330,300 yuan.
As of June 30, 2021, Wenzhou Tongfeng has total assets of 49.1532 million yuan, total liabilities of 6.329,300 million yuan and owners' equity of 42.823,900 million yuan. From January to June 2021, the company achieved a revenue of 23,648,600 yuan and a net profit of 1,104,600 yuan (data unaudited).
Iii. Main contents of the guarantee Agreement
The company will provide a guarantee of up to RMB 5.5 million for the loan applied by its wholly-owned subsidiary Wenzhou Tongfeng in Yongjia Branch of China Construction Bank. The guarantee method is joint and several liability guarantee, and the guarantee period is three years. The specific business elements of this guarantee shall be subject to the relevant contract text signed with the bank.
Iv. Opinions of the Board of Directors
The board of directors believes that the loan funds of Wenzhou Tongfeng will be used for the production and operation of the company and supplementary working capital, and the use of the funds is reasonable. Wenzhou Tongfeng is a wholly-owned subsidiary of the company, and the related security risks can be controlled.
5. The accumulative amount of external guarantees and the overdue amount of guarantees
Up to now, the company's total accumulated foreign guarantees are 2,433,500 yuan (excluding this guarantee), accounting for 0.22% of the company's audited net assets in 2020. All the above guarantees are for the holding subsidiaries. The company has no overdue external guarantee.
Vi. File directory for reference
1, Wenzhou Tongfeng business license copy;
2. Annual financial statements of Wenzhou Tongfeng.
This is to announce.