Torch Electron expands guarantees, approves profit distribution plan

Fujian Torch Electron Technology Co., Ltd. (Torch Electron) has provided new guarantees for two of its controlled subsidiaries. For Suzhou Leiduo Electronics Co., Ltd., Torch Electron signed a maximum guarantee contract with China CITIC Bank Suzhou Branch for a principal amount of CNY 120,000,000. Additionally, for Anhui Rongke Thermal Control Technology Co., Ltd., a maximum principal amount guarantee of CNY 30,000,000 was signed with Industrial Bank Quanzhou Branch. Neither guarantee includes counter-guarantees. These guarantees align with the company's approved 2025 annual credit and guarantee provisions for its subsidiaries.

The company also reported its financial position regarding guarantees. As of the announcement date, the total external guarantees by Torch Electron and its controlled subsidiaries amounted to CNY 1,674,319,200, representing 30.52% of the company's net assets as of December 31, 2024. No overdue guarantees were reported.

These resolutions were approved at the 2025 First Extraordinary General Meeting of Shareholders on September 8, 2025, which also passed the 2025 semi-annual profit distribution plan. The meeting confirmed that the company's total external guarantees will not exceed CNY 2,251,000,000 for bank credit and CNY 245,000,000 for business transactions with suppliers.