Sunoren Solar bolsters subsidiaries' financing with new guarantees

Zhejiang Sunoren Solar Technology Co., Ltd. has announced new guarantees for two wholly-owned subsidiaries, Shanghai Xinlvtai New Energy Co., Ltd. and Changxing Xinchuang New Energy Co., Ltd., totaling 26.3 million yuan. This action is part of the company's approved 2025 external guarantee plan, which allows for cumulative financing guarantees of up to 2.3 billion yuan for its wholly-owned subsidiaries. The guarantees facilitate the subsidiaries' bank financing, supporting their growth in the distributed power station business.

For Shanghai Xinlvtai, a new guarantee of 6.3 million yuan brings its total outstanding guaranteed amount to 6.3 million yuan. Changxing Xinchuang received a new guarantee of 20 million yuan, increasing its outstanding guaranteed amount to 27.14 million yuan. These guarantees are structured as joint and several liability with a three-year term from the expiration of the main debt's performance period.

As of the disclosure date, Sunoren Solar's total external guarantees, all for wholly-owned subsidiaries, amount to 2.995 billion yuan. This figure represents 136.78% of the company's net assets attributable to shareholders as per its 2024 audited financial statements. The company confirmed no overdue external guarantees.