Ginlong Tech provides guarantees for subsidiaries' financing

Ningbo Ginlong Technologies (SZSE:300763) announced it is providing guarantees for its wholly-owned subsidiaries and grandchildren to meet their production and operational needs. Ginlong Tech, along with its wholly-owned subsidiary Ningbo Ginlong Smart Energy, is guaranteeing a total of CNY 14,560 million in loans from the Industrial and Commercial Bank of China (ICBC) for nine project companies. Additionally, Ningbo Ginlong Smart Energy is providing guarantees for CNY 1,900 million in loans from the Bank of China for Ningbo Qixin New Energy and Ningbo Canxi New Energy. As of this announcement, the accumulated actual guarantee amount provided by the company's subsidiaries to the subsidiaries is CNY 545,479 million, accounting for 70.33% of the company's latest audited net assets. The total guarantee amount provided by the company to its wholly-owned and controlled subsidiaries and grandchildren is CNY 236,653 million, accounting for 30.51% of the company's latest audited net assets. Ginlong Tech states that there are no overdue guarantees, litigation-related guarantees, or losses that should be borne due to judgments against guarantees.