Linglong Tyre adjusts guarantee limits, boosts subsidiary support

Shandong Linglong Tyre Co., Ltd. (Linglong Tyre) has announced progress in adjusting its guarantee limits and providing guarantees for several controlled subsidiaries, including Dezhou Linglong Tyre, Jilin Linglong Tyre, Guangxi Linglong Tyre, and Shandong Atlas Intelligent Technology. The total guarantee amount, including these new provisions, now stands at 13.27 billion yuan, representing 61.21% of the company's most recent audited net assets attributable to shareholders.

The company is providing new guarantees for Dezhou Linglong Tyre for 190 million yuan, Jilin Linglong Tyre for 180 million yuan, Guangxi Linglong Tyre for 200 million yuan, and Shandong Atlas Intelligent Technology for 10 million yuan. All these guarantees are within the scope of the previously approved annual guarantee limits and are for production and operational purposes.

Notably, Linglong Tyre is reallocating an unused guarantee limit of 10 million yuan from Shandong Linglong Electromechanical Co., Ltd. to Shandong Atlas Intelligent Technology to meet the latter's operational needs. As of the announcement date, the total actual guarantees provided by Linglong Tyre amount to 3.418 billion yuan, which is 15.77% of the company's net assets. All guarantees are for wholly-owned subsidiaries, with no overdue guarantees reported.