Three squirrels receive the attention letter from Shenzhen Stock Exchange

The Shenzhen Stock Exchange issued a letter of concern to the three squirrels, requesting to verify and explain the cooperation model, access standards and company review procedures with the individual operators of the franchise squirrel shop. Whether there are clear restrictions on the loan period and financing purposes under the guarantee, the company Issues such as specific methods for the subsequent use of regulatory financing.

On the evening of October 22, the three squirrels disclosed the ‘Announcement on External Guarantees’ stating that in order to meet the needs of business development, they intend to provide a total guarantee amount of no more than 300 million yuan to the operators of the squirrel shop, which is the franchise squirrel. The operator of the small shop personally provides guarantees for financing of financial institutions. The three squirrels believe that this can help more young people to start businesses by joining the squirrel store, and at the same time help the company to develop offline markets, in line with the strategic plan for the simultaneous development of online and offline businesses.

The Shenzhen Stock Exchange requires the three squirrels to explain the cooperation model, access standards and company review procedures with the individual operators of the franchised squirrel shop.The three squirrels approve the specific standards of the individual operator’s guaranteed loan line, the single loan line range.The guarantee ratio in a single loan, and whether the three squirrels have clear restrictions on the loan term and financing purposes under the guarantee

In addition, the three squirrels also need to explain the specific method for the subsequent use of supervision financing.The three squirrels determine the specific method for joining the squirrel shop as an individual operator and the company does not have an associated relationship, how can the three squirrels prevent individuals from providing guarantees to related parties. The risk of carrying out the transfer of benefits.In response to the above guarantees, such as the loan default of the franchise squirrel shop operator, the three squirrels plan to take risk prevention and control measures.

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