Tianma Technology's external guarantees exceed net assets

As of November 10, 2025, Fujian Tianma Science & Technology Group's total outstanding external guarantees amounted to RMB 259,310.79 million, representing 115.92% of the company's most recent audited net assets. This includes RMB 159,948.89 million for credit line guarantees to other subsidiaries, RMB 15,333.35 million for business performance guarantees, and RMB 60,256.74 million for financing lease guarantees.

New guarantees issued between October 11 and November 10, 2025, include RMB 1,000.00 million for Fujian Tianma Food Co., Ltd., RMB 4,000.00 million for Fujian Tianma Feed Co., Ltd., and RMB 1,200.00 million for Guangxi Manlütang Ecological Aquaculture Co., Ltd. Additionally, RMB 1,000.00 million was guaranteed for Guangxi Jinma Ecological Aquaculture Co., Ltd., and RMB 3,000.00 million for Guangdong Fuma Feed Co., Ltd.'s contract performance.

The company also provided a RMB 16,000.00 million guarantee for Fuqing Xingma Aquatic Farming Co., Ltd.'s financing lease. All guaranteed entities are wholly-owned or controlled subsidiaries of the company, and there are no overdue external guarantee matters or related litigation losses. The board believes these guarantees are necessary for operational development and within controllable risks.