Visionox increases guarantees for subsidiaries' financing, totaling over 344% of net assets

Visionox Technology has announced an increase in guarantees for its wholly-owned subsidiaries, with the total external guarantee balance for the company and its holding subsidiaries now reaching RMB 1,910,508.03. This figure represents 344.27% of the company's 2024 audited net assets.

Specifically, Visionox's wholly-owned subsidiary, Kunshan GoVision Optoelectronics Co., Ltd., has provided a joint liability guarantee for the remaining balance of two loan agreements with China Development Bank Suzhou Branch, totaling RMB 597,657,556.45.

Additionally, Visionox provided an irrevocable joint liability guarantee for its wholly-owned subsidiary, Kunshan Institute of Flat Panel Display Technology, for its patent exclusive license agreement. This guarantee covers a patent license fee payment of RMB 0.75 billion, with the Kunshan Institute also providing its patents as collateral. These transactions fall within the RMB 22.62 billion guarantee limit approved at the company's 2024 annual general meeting.

The company emphasizes that these guarantees are intended to meet the subsidiaries' operational funding needs, facilitate business development, and are consistent with the overall interests of the company and its shareholders. As of the announcements, Visionox Technology has no overdue guarantees, no guarantees involved in litigation, and has not incurred losses due to guarantee judgments.