Kingfa Tech adjusts guarantees, boosts subsidiary financing to $2.32bn

Kingfa Science & Technology Co., Ltd. announced several guarantee adjustments and new guarantees for its controlling subsidiaries as of December 16, 2025. The company provided a RMB 30,000.00 million guarantee for Guangdong Kingfa Technology Co., Ltd., which now has a total outstanding guarantee of RMB 108,320.70 million. Additionally, Kingfa issued guarantees of $1,000.00 million each for Liaoning Kingfa Technology Co., Ltd. and Ningbo Kingfa New Materials Co., Ltd., bringing their respective outstanding guarantees to RMB 440,163.54 million and RMB 465,029.53 million. PT Kingfa Sci and Tech Indonesia also received a guarantee of $500.00 million from Hong Kong Kingfa Development Co., Limited.

These guarantees are intended to meet the subsidiaries' business development and operational needs, aligning with the company's overall interests and development strategy. The board of directors views these actions as necessary and reasonable, given Kingfa's control over these subsidiaries and the manageable associated risks. The guarantees are not expected to harm the company's normal operations or shareholder interests.

As of December 16, 2025, the total external guarantees by Kingfa and its subsidiaries amount to RMB 2,322,000.00 million, representing 129.27% of the company's net assets as audited for 2024. All guarantees are for controlling subsidiaries, and there are no overdue guarantees.