Hopewind Electric secures credit facilities for subsidiaries with new guarantees

Shenzhen Hopewind Electric Co., Ltd. (Hopewind Electric) has provided guarantees totaling 500 million yuan for two of its wholly-owned subsidiaries. A guarantee of 200 million yuan was extended to Suzhou Hopewind Electric Co., Ltd. for credit facilities with China Merchants Bank Suzhou Branch, while Shenzhen Hopewind Technology Co., Ltd. received a 300 million yuan guarantee for comprehensive credit facilities with China Minsheng Bank Shenzhen Branch. These guarantees are structured as joint and several liability, with terms extending up to three years beyond the maturity of the underlying credit.

These guarantee arrangements, approved by the company's board on March 13, 2025, and by shareholders on April 22, 2025, are within the previously authorized annual guarantee limit of 3.8 billion yuan for wholly-owned subsidiaries with asset-liability ratios exceeding 70%. As of the announcement date, the total external guarantee amount for Hopewind Electric and its controlled subsidiaries is 5.4 billion yuan, representing 125.63% of the company's latest audited net assets.

The company asserts that these actions are necessary for the continued stable development and operational support of its subsidiaries, with manageable risk due to close oversight of subsidiary operations and financial health.