Chint Electric issues new guarantees, concludes employee stock plan

Zhejiang Chint Electrics (SSE:601877) has announced new external guarantees totaling RMB2.12bn for 36 of its subsidiaries, including Zhejiang Chint New Energy Development Co., Ltd. and Chint Aneng Digital Energy (Zhejiang) Co., Ltd. These guarantees, primarily for full or controlling subsidiaries, amount to 65.76% of the company's latest audited net assets and fall within the shareholder-approved limit of RMB41.499bn for new guarantees through 2025. The company states there are no overdue external guarantees and no counter-guarantees in place.

In a separate development, Zhejiang Chint Electrics confirmed the successful completion of its 2024 employee stock ownership plan. Approved by the board and shareholders in early 2024, the shares acquired through the plan were transferred to the dedicated employee stock ownership account on April 19, 2024. As of the disclosure date, all company shares held under the plan have been sold through secondary market transactions, and the plan has been terminated, with asset liquidation and distribution to follow.

The company will hold a third-quarter performance briefing on December 12, 2025, to discuss its financial results and other matters.