Dare Technology Trap Guarantee

Following July 7, Great Asia Technology (000910, Closing price 7.67 Yuan) The general meeting of shareholders shall, by providing a total of 1.583 billion external guarantees to the major shareholders and related parties, yesterday (July 21), the Big Asia Technology also issued a notice that the company will be to major shareholders and related parties to provide 230 million external guarantee, so that the total amount of technology foreign guarantee will reach 1.903 billion, accounting for the proportion of 94.11 of the company's net assets　　%。 In recent years, great Asia technology seems to fall into a vicious circle of external guarantees. The total amount of the company's external guarantee in 2009 was 2.2118 billion, which accounted for 111.63% of the company's net assets. Since May 2010, Great Asia Technology has opened the curtain of foreign guarantee. May 6, the company announced to three subsidiaries to provide 359.8 million yuan joint and several liability guarantee. June 4, the company again announced two total of 311 million yuan guarantee. June 18 The company again announced 7 a total of 912 million yuan foreign guarantee. Since May, these 12 total 1.583 billion foreign guarantees have all been approved by the general meeting of shareholders, and the large Asia technology securities operator said that the guarantee has been fully implemented. July 21, the Great Asia Technology again announced 3 total 230 million yuan guarantee, if implemented, the company's total external guarantee up to 1.903 billion.　　Data show that in the first quarter of 2010 years, large Asian science and technology belong to the parent company owner net assets of 2.022 billion, the above 1.903 billion external guarantee accounted for up to 94.11% of net assets. The reporter also found that May 6 this year, the Great Asia Technology for the subsidiary of the Great Asia Wood (Heilongjiang) to provide 90 million yuan joint and several liability guarantee, but the company 2009 loss of 64.75 million yuan, and the asset-liability ratio of up to 85%.　　Also on June 18 for the holding subsidiary of the Big Asia Wheel Manufacturing Company guarantee 60 million yuan, but the company 2009 loss of 30.04 million yuan, the asset-liability ratio of 115.92%. Industry insiders said that the total amount of technology guarantees accounted for up to 94% of net assets, and also for the loss of companies and insolvent companies to provide security, the risk is very large, people worried.