Linglong Tyre elects new board amid guarantee developments

Shandong Linglong Tyre (SSE:601966) has announced the election of its sixth board of directors, while simultaneously providing updates on guarantees for its subsidiary, Dezhou Linglong Tyre. The new board will consist of 11 directors: six non-independent, four independent, and one employee representative. Key nominees include Wang Feng, Wang Lin, Zhang Qi, and Sun Songtao as non-independent directors, and Pan Ailing, Gan Junying, Zhang Hong, and Guan Zhongliang as independent directors. The board changes come as the company continues to financially support its subsidiaries. Shandong Linglong Tyre approved providing guarantees not exceeding CNY 22,000,000 for Dezhou Linglong Tyre's credit line to support its operations. As of the announcement, the company's total guarantees for its subsidiaries total CNY 132.7 million.