Dowstone Technology increases subsidiary guarantees to support expansion

Guangdong Dowstone Technology Co., Ltd. has announced the progression of its guarantees for subsidiaries, totaling RMB 780m, representing 115.58% of its latest audited net assets. The guarantees fall within the scope approved by the 2024 annual general meeting, with the company now providing a total guarantee balance of RMB 521,549,999 for its subsidiaries, accounting for 77.28% of its latest audited net assets.

Key updates include a RMB 20m guarantee for Guangdong Dowstone Ceramic Materials Co., Ltd. with China Merchants Bank, and a combined RMB 25m guarantee for Guangdong Jianeng Energy Technology Co., Ltd., including RMB 5m in new guarantees. Additionally, the company's guarantee for Guangdong Jianeng Energy Technology Co., Ltd. with Bank of China was adjusted to RMB 37.36m, down from RMB 39.98m. New guarantees include RMB 10m with Shanghai Bank and RMB 9m with Guangfa Bank for Guangdong Jianeng Energy Technology Co., Ltd.

The company emphasizes that these guarantees are for consolidated subsidiaries, supporting their financing and operational stability. It states that the guarantee risk is controllable due to the stable operations and effective management of the guaranteed subsidiaries. The company has no external guarantees for entities outside its consolidated scope and no overdue or litigated guarantee-related liabilities.