Chongqing Qianli issues guarantees for subsidiaries, adjusts related party transactions

Chongqing Qianli Technology Co. announced guarantees for its wholly-owned subsidiaries, Chongqing Lifan Industry (Group) Import & Export Co. and Chongqing Ruilan Automobile Manufacturing Co., for 100 million yuan and 35 million yuan respectively. Both guarantees are for three-year terms with Pudong Development Bank. These guarantees, approved by the board, are without counter-guarantees, reflecting the company's support for its subsidiaries' operational needs. The total outstanding external guarantees, including these, amount to 853 million yuan, representing 8.12% of the company's latest audited net assets attributable to the parent.

Additionally, Chongqing Qianli adjusted its 2025 daily related party transaction forecasts, increasing the expected amount with Geely Automobile Research Institute (Ningbo) Co. by 350 million yuan to a total of 1,161,200 million yuan. This adjustment, approved by the board without shareholder approval, is due to the inclusion of Chongqing Qianli Smart Driving Technology Co. in the consolidated financial statements. The company also projected its 2026 daily related party transactions to not exceed 1,937,800 million yuan for various transactions, including raw material purchases, product sales, and service acceptance.

These transactions, set at market prices, align with the company's strategic direction, enhance market competitiveness, and do not harm the interests of the company or its shareholders.