Chint Electrics boosts solar portfolio with new guarantees and fund investment

Zhejiang Chint Electrics announced its subsidiary, Chint Aneng, will provide guarantees totaling up to RMB 184,554,000 for 14 wholly-owned project companies under its investee, Zhejiang Fulaitai New Energy Co. These guarantees support project loans from China Minsheng Bank and Zheshang Bank, aimed at advancing Chint Electrics' photovoltaic business development.

Additionally, Chint Electrics' wholly-owned subsidiary, Zhejiang Chint New Energy Development Co., plans to invest up to RMB 201,000,000 in the Xuancheng Guotai Kaisheng Chint Green Private Equity Investment Partnership. This strategic investment in the new energy and energy conservation sector aims to optimize the company's investment structure, enhance profitability, and bolster its competitive edge.

The board of directors approved both resolutions, with the guarantee for Zhejiang Fulaitai requiring shareholder approval. As of the announcement date, Chint Electrics' and its subsidiaries' total external guarantees exceeded 50% of the company’s most recently audited net assets, primarily for wholly-owned or controlled subsidiaries.