Topsec guarantees sub-subsidiary’s $300m credit line with China Merchants Bank

Topsec Technologies Group announced it has provided an irrevocable joint liability guarantee for its wholly-owned sub-subsidiary, Beijing Topsec Network Security Technology Co., Ltd. (Topsec Network), for a bank comprehensive credit line not exceeding CNY 1,050,000,000.00. This guarantee, approved by the board and shareholders in February 2025, is valid for 12 months from the date of shareholder approval. On September 24, 2025, the company signed a "Maximum Irrevocable Guarantee" with China Merchants Bank Beijing Branch for a facility up to CNY 300,000,000.00.

Following this latest guarantee, Topsec Technologies Group's cumulative guaranteed balance for Topsec Network stands at CNY 600,000,000.00, representing 6.39% of the company's most recent audited net assets. The total approved guarantee limit for Topsec Network remains CNY 1,050,000,000.00, with CNY 450,000,000.00 still available. The guaranteed amount does not exceed the total credit line approved by the company's first interim shareholders' meeting in 2025.

Topsec Network, established in 1995 with registered capital of CNY 350,000,000.00, specializes in network technology, computer software and hardware development, and sales. As of June 30, 2025 (unaudited), Topsec Network reported total assets of CNY 600,830,690.00, liabilities of CNY 275,838,150.00, and net assets of CNY 324,761,990.00. The sub-subsidiary's credit status is reported as good.