Aiko Solar secures 250m yuan in new financing guarantees for subsidiaries

Shanghai Aiko Solar Energy Co., Ltd. (SSE:600732) has announced new guarantees for its subsidiaries, Zhuhai Fushan Aiko Solar Energy Technology Co., Ltd. and Tianjin Aiko Solar Energy Technology Co., Ltd. The company signed a guarantee contract with North Silver Financial Leasing Co., Ltd. for 200 million yuan and another with China Guangfa Bank Tianjin Branch for 50 million yuan. Both are for related party financing activities, totaling 250 million yuan.

The company's cumulative outstanding guarantees for its subsidiaries now total 11.898 billion yuan, including these latest agreements. These guarantees are within the 36.2 billion yuan limit approved by the company's 2024 annual shareholders' meeting, valid until the 2025 annual shareholders' meeting. This support is deemed necessary and reasonable, aiding the sustainable development of its consolidated subsidiaries without affecting the company's continuous operations or shareholder interests.

As of the announcement date, the total outstanding guarantee amount for Shanghai Aiko Solar Energy and its subsidiaries is 23.641 billion yuan. This represents 665.14% of the company's net assets from the most recent audited period. The actual debt balance under these guarantees is 13.862 billion yuan. The company reported no overdue guarantees as of this announcement.