Wolong Electric boosts financial support for subsidiary Rongxin Electric

Wolong Electric Group has signed an irrevocable guarantee with China Merchants Bank Anshan Branch, providing a guarantee of up to 60 million yuan for its wholly-owned subsidiary, Wolong Electric Group Liaoning Rongxin Electric Transmission Co., Ltd. (Rongxin Electric). This latest commitment brings the total outstanding guarantee amount for Rongxin Electric to 120 million yuan. The guarantee, approved by the board on April 24, 2025, and by shareholders in the 2024 annual general meeting, covers various credit facilities until the expiration of each transaction under the credit agreement, plus an additional three years.

As of September 30, 2025, Rongxin Electric reported total assets of 805.27 million yuan and total liabilities of 436.62 million yuan. Its net assets stood at 368.65 million yuan, with a 54.22% asset-liability ratio. For the first nine months of 2025, Rongxin Electric achieved operating revenue of 301.88 million yuan and a net profit of 12.16 million yuan.

As of the announcement date, Wolong Electric's total external guarantees, including those for subsidiaries, amount to 1,022.38 million yuan. This represents 10.19% of the company's net assets attributable to shareholders as of the 2024 audited financial statements. The company confirmed no overdue or non-compliant guarantees and no guarantees provided to controlling shareholders.