Zhongchuang Zhiling guarantees €30m loan for German unit SEG Automotive

Zhongchuang Zhiling Industrial Technology Group Co., Ltd. has provided a guarantee for a bank loan of up to €30 million from China Merchants Bank Zhengzhou Branch to its wholly-owned subsidiary, SEG Automotive Germany GmbH. This guarantee facilitates SEG's access to working capital for its operational needs. The guarantee is a joint and several liability.

The company's board of directors and annual general meeting approved the provision of guarantees for holding subsidiaries and inter-subsidiary guarantees. The 2024 annual general meeting authorized an increase of up to RMB 2 billion in the internal guarantee limit for holding subsidiaries, including SEG, on top of the original guarantee balance. This transaction falls within the approved internal guarantee limits.

As of the announcement date, Zhongchuang Zhiling's total external guarantees, including those for its holding subsidiaries, amount to approximately RMB 4,102.92 million, representing 18.04% of its latest audited net assets. Guarantees provided by the listed company for its holding subsidiaries total approximately RMB 3,569.77 million, or 15.69% of its latest audited net assets. No external guarantees are overdue.