Ginlong Technologies updates guarantees for subsidiaries' operations

Ningbo Ginlong Technologies (SZSE:300763) announced the progress of its guarantee provisions for its wholly-owned and controlled subsidiaries. To support the production and operation of 27 project companies, Ginlong provided joint liability guarantees for loans totaling CNY 48,474 million from Industrial Bank Co., Ltd. Ningbo Branch, between 2022 and 2023. Separately, the company's wholly-owned subsidiary, Ningbo Ginlong Smart Energy Co., Ltd., entered into new guarantee agreements with Industrial Bank, taking over the original guarantee obligations of Ginlong Technology for the 27 project companies. The accumulated actual guarantee amount provided by the company's subsidiaries to subsidiaries (including this time) is CNY 697,072 million.