China Marine Information Electronics guarantees subsidiary debt

China Marine Information Electronics (CMIE) has provided a guarantee of 23 million yuan for its wholly-owned subsidiary, CSSC Liaohai Equipment Co., Ltd., through a guarantee contract with CSSC Finance Co., Ltd. Beijing Branch. This latest guarantee brings the total outstanding guarantee amount for Liaohai Equipment to 155 million yuan. The guarantee covers the principal, interest, penalties, liquidated damages, and enforcement costs, with a term of two years from the maturity of the primary debt.

As of the disclosure date, CMIE's total external guarantees, all for its controlled subsidiaries, amount to 238.7 million yuan, representing 2.93% of the parent company's audited net assets as of December 31, 2024. The company confirms it holds control over Liaohai Equipment, which maintains a sound operational status, mitigating the risk of the guarantee. The board has assessed Liaohai Equipment's repayment capacity and deems the guarantee necessary and reasonable for ongoing business operations without impacting shareholder interests.

This guarantee falls within the scope of approvals granted by the company's ninth board of directors' thirty-sixth meeting and the 2024 Annual General Meeting, which authorized a maximum guarantee limit for subsidiaries for 2025. The company has no overdue external guarantees and has not provided guarantees for its controlling shareholders, actual controllers, or their related parties.