Sanxing Medical guarantees Swedish subsidiary for €1.49m loan

Ningbo Sanxing Medical Electric announced a guarantee for its wholly-owned subsidiary, Ningbo Sanxing Electric (Sweden) AB, for €1,494,408.10. This guarantee is in the form of a performance bond, with a maximum principal amount of €1,494,408.10 and is valid until April 30, 2029. The parent company's board believes this is necessary to meet the subsidiary's operational funding needs and ensure its stable business.

The guarantee falls within the previously approved annual guarantee limit for subsidiaries, which was approved at the company's 2024 annual general meeting. As of the announcement date, the total amount of external guarantees provided by the company to its controlling subsidiaries stands at RMB 975,350,000, representing 80.73% of the company's net assets attributable to shareholders as of the end of 2024. The actual outstanding guarantee balance for controlling subsidiaries is RMB 598,226,450, or 49.52% of 2024 net assets.

The company's board of directors approved this guarantee on April 24, 2025. Given that Ningbo Sanxing Electric (Sweden) AB is a consolidated subsidiary, Ningbo Sanxing Medical Electric maintains control over its major decisions and daily operations, mitigating potential risks. The company currently has no overdue guarantees.