CAERI guarantees subsidiaries' bill pool operations up to CNY 300m

China Automotive Engineering Research Institute Co., Ltd. (CAERI) has announced a maximum guarantee of CNY 300 million for its nine wholly-owned subsidiaries' bill pool business with China Merchants Bank. This move aims to enhance capital utilization efficiency and meet the operational needs of its subsidiaries. The guarantee period will run from August 29, 2025, to August 28, 2026.

The total amount of guarantees provided by CAERI and its controlled subsidiaries as of the announcement date is CNY 1,172.0496 million, representing 16.60% of the company’s net assets as of the end of 2024. The actual utilized guarantee amount, including this transaction, is CNY 53.8296 million, or 0.76% of the 2024 audited net assets. There are no overdue guarantees.

This guarantee aligns with the company's approved annual guarantee forecast, which allows for a total comprehensive credit guarantee not exceeding CNY 1,118.22 million for its subsidiaries over 12 months. The adjustment of guarantee quotas among subsidiaries is intended to optimize resource allocation and manage risk without increasing the overall guarantee exposure.