Sungrow Power subsidiary secures $5m HSBC credit line for Indian operations

Sungrow Power Supply Co., Ltd. announced that its subsidiary, Sungrow (India) Private Limited, recently secured a new $5 million comprehensive credit line from HSBC Bank. Sungrow Power Supply will provide a joint and several liability guarantee for this new credit facility, with the guarantee period not exceeding three years from the date of the guarantee letter. This latest guarantee falls within the RMB 60,000,000 limit previously approved for Sungrow India by the company's board and shareholders.

This transaction brings the company's total cumulative external guarantee amount, including this new guarantee but excluding guarantees for subsidiaries, to RMB 40,958,707,100. This represents 110.98% of the company's audited net assets as of December 31, 2024. The cumulative actual external guarantee balance, including this guarantee, stands at RMB 21,242,912,500, or 57.56% of the 2024 audited net assets.

The aggregate guarantee amount provided by the company for its subsidiaries, including this transaction, does not exceed the previously approved guarantee limits and does not require further approval from the board or shareholders.