Changchuan Tech secures loan via subsidiary equity pledge

Hangzhou Changchuan Technology Co., Ltd. (SZSE:300604) announced its plan to secure a merger and acquisition loan by pledging 51% equity of its holding subsidiary, Keyway Vision Technology (Suzhou) Co., Ltd. The loan, not exceeding CNY 60 million, will be obtained from the Export-Import Bank of China, Zhejiang Branch, with a term of seven years. The funds will be used to pay the equity transfer price to Keyway Vision Technology. The company's board of directors has authorized the chairman to handle related legal documents and procedures. The decision, approved on June 4, 2025, does not involve related-party transactions and does not constitute a major asset restructuring.