Woer heat-shrinkable material boosts growth with guarantees and new investment

Shenzhen Woer Heat-Shrinkable Material will provide a guarantee of up to RMB250 million for its controlling subsidiary, Shenzhen Woer New Energy Electrical Technology Co., Ltd., to secure bank credit. This guarantee, representing 4.52% of the company's 2024 net assets, supports the subsidiary's operational development. The cumulative effective external guarantee amount, including this new guarantee, totals RMB1.1174 billion, accounting for 20.19% of the company's latest audited net assets.

Concurrently, the company's board approved an investment of up to RMB1 billion by its controlling subsidiary, Shanghai Cote New Materials Co., Ltd., to establish the Cote (Suzhou) New Materials project in Jiangsu Province. This project aims to build a research, production, and sales base for high-performance products like power battery thermal runaway protection, fire-resistant materials, and electronic components. The investment aligns with strategic growth, addresses capacity shortages, and is expected to enhance the subsidiary's profitability and market competitiveness.