Sichuan Changhong boosts subsidiary guarantees ahead of shareholder meeting

Sichuan Changhong Electric announced a new RMB 2 billion guarantee for its controlling subsidiary, Guangyuan Changhong Electronic Technology Co., Ltd., valid for five years. This brings the total external guarantees by the company and its non-listed subsidiaries to RMB 1,269,243.77, representing 86.58% of its latest audited net assets. The guarantees for subsidiaries total RMB 986,298.97, or 67.28% of net assets. The move is intended to support Guangyuan Changhong's operations and development, with Changhong holding a 99.95% effective stake in the subsidiary.

The company's board also approved the transfer of equity in Molds Co. to Jijia Co. to optimize resource allocation and the staged capital increase for Hongyuan Heat Pump Co., Ltd. The board further agreed to revise the company's Articles of Association to increase the number of members in the Disciplinary Inspection Commission from five to seven, including one secretary and two deputy secretaries. These key decisions require approval at the upcoming 2025 First Extraordinary General Meeting of Shareholders on September 29, 2025.

Additionally, Sichuan Changhong’s Hong Kong-listed subsidiary, Changhong Jiahua Holdings Limited, temporarily suspended trading on September 12, 2025, pending an announcement regarding inside information. Changhong Jiahua also plans to establish a wholly-owned subsidiary in Singapore with an investment of SGD 1 million.