Lingyi iTech guarantees $42m loan for Singapore subsidiary

Lingyi iTech (Guangdong) Company signed a guarantee contract with the Export-Import Bank of China, providing joint liability guarantee for wholly-owned subsidiary TRIUMPH LEAD (SINGAPORE) PTE. LTD.

The guarantee covers loan principal of RMB 300 million (approximately $42 million) under an export buyer credit loan agreement.

As of the announcement date, Lingyi iTech's total guarantee balance is RMB 1.1 billion, representing 55.56% of its net assets as of December 31, 2024.