Shuanghuan Driveline guarantees 220m yuan loan for subsidiary

Zhejiang Shuanghuan Driveline Machinery Co., Ltd. recently executed a maximum guarantee contract with Hangzhou Bank Co., Ltd., Hangzhou Wuchang Branch, to provide a joint and several liability guarantee for its wholly-owned subsidiary, Zhejiang Huanyi Technology Co., Ltd. This guarantee covers financing activities, with the maximum principal amount of the creditor's rights set at 220,000,000.00 yuan. The guarantee aligns with resolutions from the company's seventh board of directors third meeting on April 23, 2025, and the 2024 annual general meeting on May 16, 2025, which approved up to 4.31 billion yuan in financing guarantees for wholly-owned and controlling subsidiaries.

The guarantee's scope includes all principal amounts under the main contract, interest, compound interest, penalties, liquidated damages, compensation, and expenses for realizing creditor's and guarantee rights. The guarantee period for each specific financing business under the main contract is three years from the maturity date of the debtor's performance.

As of the disclosure date, the total outstanding guarantee amount for the company and its controlling subsidiaries is 1,664,224,100.00 yuan, all of which are inter-company guarantees within the company's consolidated scope. This represents 18.88% of the company's net assets as of December 31, 2024. The company has no outstanding overdue guarantees or guarantees involved in litigation outside its consolidated financial statements.