Jiemei Technology guarantees subsidiary loans totaling 120m yuan

Zhejiang Jiemei Electronic & Technology announced it has renewed guarantee agreements for its wholly-owned subsidiary, Zhejiang Jiemei Electronic Information Materials. The guarantees include 80 million yuan with Hangzhou Bank and 40 million yuan with Bank of China.

The company's total actual credit guarantee amount for subsidiaries is 2.28 billion yuan, representing 77.52% of its latest audited net assets. The guarantees are part of a broader resolution allowing inter-company guarantees up to 3.5 billion yuan.