A listed company shall not provide guarantee for the controlling shareholder. The external guarantee of a listed company is reviewed with reference to the listed company, so the listed company cannot provide guarantee for the controlling shareholder. Although counter-guarantee is also a form of guarantee, there are obstacles, but as long as the counter-guarantee is lifted before submitting the application materials to the CSRC, this obstacle can be well solved.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.