Putailai boosts guarantees for subsidiaries, total outstanding at RMB 17.3 bn

Shanghai Putailai New Energy Technology (Putailai) has announced new guarantees for its subsidiaries, Shenzhen Jiatuo Automation Technology, Guangdong Jiatuo Automation Technology, and Dongguan Songshan Lake Jiatuo Intelligent Equipment. These guarantees, provided by Putailai's subsidiary Jiangsu Jiatuo New Energy Intelligent Equipment, amount to RMB 340 million, RMB 100 million, and RMB 30 million respectively.

Following these new provisions and factoring in matured guarantees, the cumulative guarantee amount from Putailai and its subsidiaries to Shenzhen Jiatuo, Guangdong Jiatuo, and Songshan Lake Jiatuo now totals RMB 1.64 billion, RMB 850 million, and RMB 360 million. As of the announcement date, the aggregate outstanding external guarantees for Putailai and its holding subsidiaries stand at RMB 17.3 billion, representing 94.09% of the company's net assets as of the end of 2024.

The company's board and shareholders previously approved additional guarantee amounts for 2025, totaling RMB 1.5 billion for Shenzhen Jiatuo, RMB 600 million for Guangdong Jiatuo, and RMB 100 million for Songshan Lake Jiatuo. All guarantees are within the approved shareholder limits, with no overdue guarantees or external guarantees provided to non-subsidiary entities.