Cnano Technology boosts subsidiary guarantee amidst business expansion

Jiangsu Cnano Technology has approved an increase in its guarantee limit for wholly-owned subsidiary Sichuan Cnano Jincheng Materials Technology Co., Ltd. by an additional CNY 9bn. This brings the total guarantee amount provided by Cnano Technology and its holding subsidiaries to CNY 50bn, representing 16.87% of the company's latest audited net assets and 9.73% of its total assets. The increased guarantee supports Cnano Jincheng's ongoing "Cnano Jincheng Cathode Material Production Base Project (Phase I)" to meet its financing needs and enhance operational efficiency.

The company also announced new daily related party transactions, including increased projected transaction amounts with Changzhou Silicon Yuan New Energy Materials Co., Ltd. and its subsidiary. This involves accepting entrusted processing services from Changzhou Silicon Yuan, with an anticipated increase in transaction value of CNY 500m. These transactions are part of Cnano Technology's normal business operations and are executed under fair market pricing principles.

These decisions, approved by the board of directors and its audit committee, are deemed necessary for business development and are not expected to impact the company's independence. No related party guarantees are currently overdue or involved in litigation.