Torch Electron guarantees CNY 113m for subsidiary Shanghai Torch Group

Fujian Torch Electron Technology Co., Ltd. (Torch Electron) has announced a new guarantee for its wholly-owned subsidiary, Shanghai Torch Electron Technology Group Co., Ltd. (Shanghai Torch Group). The CNY 113 million guarantee covers principal debt and other related expenses, bringing the actual guaranteed balance for Shanghai Torch Group to CNY 280 million. This action is part of the company's approved 2025 annual guarantee quota, which aims to provide up to CNY 2.251 billion in comprehensive bank credit guarantees for its subsidiaries.

The guarantee, a joint and several liability, was executed on December 8, 2025, with China Merchants Bank Co., Ltd. Quanzhou Branch. The collateral scope includes all debts under the master contract, such as loans, interest, penalties, and expenses incurred by the creditor in realizing its guarantee rights. The guarantee period extends for three years beyond the maturity of the loan or other debts.

As of the announcement date, the cumulative external guarantees provided by Torch Electron and its controlled subsidiaries amount to CNY 1.8473192 billion, representing 33.67% of the company's net assets as of December 31, 2024. All guarantees are for controlled subsidiaries, with no overdue external guarantees reported.