Jolywood guarantees subsidiary's bank facilities for $31.6m

Jolywood(Suzhou)Sunwatt has provided a guarantee for its controlling subsidiary, Taizhou Jolywood Optoelectronic Technology Co., Ltd., to facilitate bank guarantees. The company recently signed a guarantee contract with the Changshu Branch of Industrial and Commercial Bank of China Limited. This guarantee, amounting to $31.608 million, will cover various bank guarantee and standby letter of credit businesses within the period of August 19, 2025, to August 19, 2030.

The total outstanding guarantee amount for Taizhou Jolywood Optoelectronic Technology Co., Ltd. now stands at 1,212.0873 million yuan. This move falls within the previously approved guarantee quota by Jolywood(Suzhou)Sunwatt's board and shareholders, eliminating the need for further review. The company confirms that the guaranteed entity is not involved in any credit defaults and operates normally, mitigating potential risks.

As of the announcement date, Jolywood(Suzhou)Sunwatt's total outstanding guarantee balance, including that for its subsidiaries, is 8,728.7350 million yuan. This represents 258.92% of the company's latest audited net assets. Guarantees provided to entities outside the consolidated financial statements amount to 9.2856 million yuan, or 0.28% of net assets. The company reports no overdue guarantees, litigation-related guarantees, or losses due to judgments.