Qitian Technology Group guarantees subsidiaries' credit facilities

Qitian Technology Group (SZSE:300061) will provide guarantees for its subsidiaries, Nanjing Yijiantong E-commerce Co., Ltd. and Jiangsu Xiaoqiofei Technology Co., Ltd., for credit facilities up to RMB 12 million and RMB 55 million respectively. These actions fall under a broader RMB 1,240.75 million guarantee and counter-guarantee quota approved by the board of directors and shareholders in April and May 2025. This quota includes RMB 1,037 million for companies with an asset-liability ratio below 70% and RMB 165.5 million for those above 70%, plus RMB 38.25 million for counter-guarantees to the Shanghai SME Policy-based Financing Guarantee Fund Management Center.

The guarantees are intended to support the subsidiaries' business development and operational needs, with Qitian Technology Group maintaining control over their daily operations and financial risks. The company's board believes these guarantees are in the overall interest of the company and its shareholders. As of the announcement date, the approved guarantee and counter-guarantee quota represents 224.84% of the company's latest audited net assets, with actual guarantees and counter-guarantees totaling RMB 583.8 million, or 105.79% of net assets.

The specific guarantees include a RMB 12 million maximum guarantee with Industrial and Commercial Bank of China Nanjing Sanshan Street Branch for Nanjing Yijiantong E-commerce Co., Ltd. and a RMB 55 million maximum guarantee with Hangzhou Bank Nanjing Branch for Jiangsu Xiaoqiofei Technology Co., Ltd. Both guarantees provide irrevocable joint liability for the duration of the respective loan agreements.