(2) Risks to tradable shareholders. Whether there is a problem with the company itself or the senior management of the company, it will eventually involve the share price of the guarantee company, and the shareholders of tradable shares can only passively "pay the bill" for these companies.
(3) Risks of other companies in the guarantee chain. Once there is a problem with the external guarantee of listed companies, it will not only involve the listed companies themselves, but also lead to other companies in the guarantee chain, which will have extremely bad consequences for the whole guarantee chain or guarantee circle.
(4) Securities market risks. After a link in the guarantee chain or guarantee circle of listed companies goes wrong, the risks it brings are often not individual, which will have adverse consequences on the whole securities market.
(5) Financial risks brought by guarantee. Every external guarantee of listed companies will involve banks. The bigger the guarantee circle, the more complicated the guarantee relationship, and the more banks involved.