Hongxin Electron-Tech unit secures major financing with guarantee

Xiamen Hongxin Electron-Tech Group Co., Ltd. recently announced a significant update to its external guarantees, following a resolution passed at its first extraordinary general meeting in March 2025. The company's controlled subsidiary, Gansu Huihong Zhiqi Technology Co., Ltd., entered into a finance lease agreement with Longyuan Financial Leasing (Pingtan) Co., Ltd., for a total lease amount of RMB16,679.70 million over 60 months.

The company is acting as a joint and several guarantor for this finance lease, issuing an irrevocable guarantee letter for RMB16,679.70 million. Additionally, Shanghai Huihong Huachuang Technology Co., Ltd., which wholly owns Huihong Zhiqi, provided equity pledge collateral valued at RMB1,000.00 million. Huihong Huachuang is 60% owned by the company, with the remaining 40% held by Zhoushan Huhong Zhichuang Equity Investment Partnership (Limited Partnership), which issued a counter-guarantee proportionate to its shareholding.

As of the date of this announcement, the company's total external guarantee obligations amount to RMB365,529.25 million, representing 317.47% of its net assets as audited for 2024. The company confirmed there are no overdue or litigated external guarantee matters.