On December 17, 2012, Tianlong Optoelectronics announced that the second session of the Board of Directors reviewed and approved the proposal of “Providing a Guarantee for Applying for Bank Loans to Shanghai Jams Electronic Materials Co., Ltd., a Holding Subsidiaryâ€. Shanghai Jims Electronic Materials Co., Ltd., a controlled subsidiary of the company, intends to apply to Shanghai Rural Commercial Bank Co., Ltd. for a credit line of not more than RMB 20 million. Shanghai Xuhui Finance Guarantee Co., Ltd. provides joint liability guarantee and the company provides counter guarantee. The warranty period is no more than one year.
Shanghai Jies Electronic Materials Co., Ltd. has a registered capital of USD 3 million. Its business scope covers the research and development and production of silicon materials and products, graphite carbon materials and products, quartz materials and products, and related electronic materials. Service, Tianlong Optoelectronics holds 68% of the shares, and JMS Electronic Materials Group Co., Ltd holds 32% of the shares.
On December 31, 2011, Shanghai James had an audited total assets of 163,461,500 yuan, total liabilities of 30,755,400 yuan, an asset-liability ratio of 18.82%, operating income of 19,834,200 yuan and a net profit of 585,333,000 yuan. On September 30, 2012, the unaudited total assets were 189,927,800 yuan, the total liabilities were 6,724,250 yuan, the asset-liability ratio was 33.15%, the operating income was 331,516,600 yuan, and the net profit was -6,169,900 yuan.
At present, the photovoltaic industry continues to be sluggish, which brings certain pressure to enterprises in the industrial chain. Shanghai Jies's solar graphite products business is affected by the under-employment of downstream enterprises, but Shanghai James is currently operating normally. In order to ensure the turnover of funds in the production and operation of Shanghai James, Tianlong Optoelectronics provided guarantee for Shanghai James to apply for a credit line of 20 million yuan.
Shanghai Jies Electronic Materials Co., Ltd. has a registered capital of USD 3 million. Its business scope covers the research and development and production of silicon materials and products, graphite carbon materials and products, quartz materials and products, and related electronic materials. Service, Tianlong Optoelectronics holds 68% of the shares, and JMS Electronic Materials Group Co., Ltd holds 32% of the shares.
On December 31, 2011, Shanghai James had an audited total assets of 163,461,500 yuan, total liabilities of 30,755,400 yuan, an asset-liability ratio of 18.82%, operating income of 19,834,200 yuan and a net profit of 585,333,000 yuan. On September 30, 2012, the unaudited total assets were 189,927,800 yuan, the total liabilities were 6,724,250 yuan, the asset-liability ratio was 33.15%, the operating income was 331,516,600 yuan, and the net profit was -6,169,900 yuan.
At present, the photovoltaic industry continues to be sluggish, which brings certain pressure to enterprises in the industrial chain. Shanghai Jies's solar graphite products business is affected by the under-employment of downstream enterprises, but Shanghai James is currently operating normally. In order to ensure the turnover of funds in the production and operation of Shanghai James, Tianlong Optoelectronics provided guarantee for Shanghai James to apply for a credit line of 20 million yuan.
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