Drinda guarantees subsidiary's 100 million yuan bank credit

Hainan Drinda New Energy Technology Co. (Drinda) announced it will provide a joint and several liability guarantee for its wholly-owned subsidiary, Chuzhou Jietai New Energy Technology Co. (Chuzhou Jietai). This guarantee covers a comprehensive credit line of 100 million yuan from the Pudong Development Bank's Chuzhou branch. The guarantee is part of an approved total guarantee limit of 14 billion yuan for Drinda's subsidiaries, negating the need for further board or shareholder approval.

Chuzhou Jietai, established on December 14, 2021, with a registered capital of 1.2 billion yuan, reported total assets of 8.62 billion yuan and total liabilities of 6.29 billion yuan as of December 31, 2024. Its net assets stood at 2.32 billion yuan, with a 2024 operating income of 6.05 billion yuan.

Including this new guarantee, Drinda and its subsidiaries' cumulative external guarantees amount to 9.21 billion yuan, representing 237.14% of the company's most recently audited net assets. The announcement confirms there are no overdue guarantees or guarantees involved in litigation.