GoerTek provides guarantees for key subsidiaries' operational needs

GoerTek Inc. has issued new guarantees for its subsidiaries, Goertek (Hong Kong) Co., Limited and Goertek Smart Technology Co., Ltd., for supplier credit and financing. These guarantees fall within the scope of the previously approved total guarantee limit by the company's shareholders.

Specifically, Goertek (Hong Kong) Co., Limited received a guarantee for $11,872,751 from Ningbo Sunny Optical Technology Co., Ltd. and multiple guarantees from Delta Electronics International (Singapore) Pte. Ltd., Peak & Hold Limited, Synaptic Electronic (Hong Kong) Limited, and Excelpoint Technology Ltd., totaling $30,724,243, $20,000,000, $8,600,000, and $10,000,000 respectively. Goertek Smart Technology Co., Ltd. also received a guarantee for $15,000,000 from Excelpoint Technology Ltd. All guarantees are joint and several liability guarantees for principal debt, with a term of six months from the expiration of the principal debt performance period.

As of the disclosure date, the total approved guarantee amount for GoerTek and its subsidiaries is CNY 7.39bn. All these guarantees are provided by the company for its consolidated subsidiaries. The current outstanding guarantee balance for subsidiaries amounts to CNY 1.14bn, representing 1.38% of the company's total assets and 3.44% of net assets as of December 31, 2024. The company has no overdue guarantees, guarantees involved in litigation, or losses from judgments against the company for guarantees.