Xiangcai expands subsidiary guarantees for growth initiatives

Xiangcai Co. announced new and updated external guarantees for its wholly-owned subsidiaries, Zhejiang Xiangxin Petrochemical Co. and Zhejiang Xianglian Industrial Co. For Zhejiang Xiangxin, Xiangcai has re-signed a maximum pledge contract with Zhejiang Chouzhou Commercial Bank, pledging 120 million yuan, effective from September 18, 2025, to December 31, 2026. This supersedes previous arrangements for a maximum credit line of 100 million yuan, supporting Zhejiang Xiangxin's financing needs. The actual outstanding guarantee balance for Zhejiang Xiangxin is 100 million yuan.

Similarly, Xiangcai executed a new maximum pledge contract for Zhejiang Xianglian, pledging 120 million yuan with Zhejiang Chouzhou Commercial Bank, also valid from September 18, 2025, to December 31, 2026. As of this announcement, the actual outstanding guarantee balance for Zhejiang Xianglian is 0 yuan. Both guarantees are within the scope of the company's previously approved guarantee limits and are aimed at meeting the subsidiaries' operational and development capital requirements, with no counter-guarantees provided by the subsidiaries.

As of the disclosure date, the total external guarantees by Xiangcai and its subsidiaries amount to 980 million yuan, with the actual outstanding balance (excluding these new transactions) at 231.46 million yuan, representing 1.96% of the company's latest audited net assets attributable to shareholders. The company confirmed no overdue external guarantees.