[Sun-Yih-KY] Announcement on behalf of a subsidiary regarding the improvement status of exceeding endorsement/guarantee limits
Furniture maker Sun-Yih-KY has announced an improvement plan after its subsidiary, Hangzhou Huatong Home Furnishing Group, exceeded its internal limit for a guarantee to another sub-subsidiary. The company stated it will review guarantee amounts upon contract renewals in the future.
📋 Article Processing Timeline
- 📰 Published: May 13, 2026 at 09:00
- 🔍 Collected: May 14, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 14, 2026 at 20:14 (12h 14m after Collected)
1. Date of occurrence: 2026/05/13
2. Company name: Hangzhou Huatong Home Furnishing Group Co., Ltd.
3. Relationship with the company (please enter this company or subsidiary): Subsidiary
4. Mutual shareholding ratio: A subsidiary in which the company indirectly holds 97%
5. Reason for occurrence:
(1) Handled in accordance with letter No. 1140361065 from the Financial Supervisory Commission dated 2025/10/28.
(2) The company's subsidiary, Hangzhou Huatong Home Furnishing Group Co., Ltd., provided an endorsement/guarantee to another subsidiary, Shayne (Macao Commercial Offshore) Limited, which exceeded its established limit, constituting a violation of its own endorsement/guarantee operating procedures.
6. Response measures:
Improvement plan: In future contract renewals with banks, close attention will be paid to exchange rate fluctuations and the possibility of a decrease in the company's net worth will be considered, and the endorsement/guarantee limit will be adjusted to avoid exceeding the limit.
7. Other explanatory matters (If the subject of the event or resolution is a public company or above, this material information also complies with the matters stipulated in Article 7, Paragraph 9 of the Enforcement Rules of the Securities and Exchange Act that have a significant impact on shareholders' equity or securities prices):
Until the improvement plan is fully implemented, the implementation status will be announced quarterly and reported to the board of directors for control on a quarterly basis, and the implementation status will be reported at the next shareholders' meeting.
2. Company name: Hangzhou Huatong Home Furnishing Group Co., Ltd.
3. Relationship with the company (please enter this company or subsidiary): Subsidiary
4. Mutual shareholding ratio: A subsidiary in which the company indirectly holds 97%
5. Reason for occurrence:
(1) Handled in accordance with letter No. 1140361065 from the Financial Supervisory Commission dated 2025/10/28.
(2) The company's subsidiary, Hangzhou Huatong Home Furnishing Group Co., Ltd., provided an endorsement/guarantee to another subsidiary, Shayne (Macao Commercial Offshore) Limited, which exceeded its established limit, constituting a violation of its own endorsement/guarantee operating procedures.
6. Response measures:
Improvement plan: In future contract renewals with banks, close attention will be paid to exchange rate fluctuations and the possibility of a decrease in the company's net worth will be considered, and the endorsement/guarantee limit will be adjusted to avoid exceeding the limit.
7. Other explanatory matters (If the subject of the event or resolution is a public company or above, this material information also complies with the matters stipulated in Article 7, Paragraph 9 of the Enforcement Rules of the Securities and Exchange Act that have a significant impact on shareholders' equity or securities prices):
Until the improvement plan is fully implemented, the implementation status will be announced quarterly and reported to the board of directors for control on a quarterly basis, and the implementation status will be reported at the next shareholders' meeting.