Zhejiang Jinke to guarantee subsidiary's $10.77m loan

Zhejiang Jinke Culture Industry Co., Ltd. announced its intention to provide a guarantee for a loan taken by its wholly-owned subsidiary, United Luck Group Holdings Limited. This guarantee, approved by the Fifth Board of Directors on September 12, 2025, covers a loan of up to $10.77 million from Zhejiang Merchants Bank Co., Ltd. (Hong Kong Branch), maturing by June 15, 2026. The guarantee includes the loan principal, interest, and related payables, with a term of three years from the contract signing date.

The guarantee will be provided through various methods, including credit guarantees from Zhejiang Jinke and its subsidiaries, equity pledges, and asset pledges. The company noted that United Luck Group Holdings Limited, an overseas investment holding platform, is financially stable and capable of repaying its debts, mitigating significant financial risk to Zhejiang Jinke.

The total amount of guarantees provided by Zhejiang Jinke and its controlled subsidiaries, excluding guarantees received by the listed company, is expected to be 170,721.64 million yuan, representing 68.48% of its latest audited net assets. The company's board has recommended this matter for approval at the 2025 fourth extraordinary general meeting of shareholders on September 29, 2025.