Kunlun Tech secures credit line with shareholder guarantee

Beijing Kunlun Tech (SZSE:300418) announced that its Fifth Board of Directors approved securing a CNY 200 million comprehensive credit line from Hang Seng Bank (China) Limited's Beijing branch. Crucially, the credit line is supported by a personal guarantee from Kunlun Tech's controlling shareholder and actual controller, Zhou Yahui. As a result, the company will not pay any guarantee fees. Kunlun Tech's independent directors have reviewed and approved this arrangement. The company aims to support the development of the company by solving the problem of guarantee required for the bank's credit application. The total accumulated amount of related transactions between the company and Zhou Yahui from the beginning of the year to the disclosure date is CNY 62 million.