Lingyi iTech guarantees subsidiary loan, calls convertible bonds early

Lingyi iTech (Guangdong) Company has provided a joint and several liability guarantee for a RMB 250,000,000 loan to its wholly-owned subsidiary, Suzhou Lingyu Electronic Technology Co., Ltd. The guarantee, valid for three years from the debt's maturity, falls within the RMB 3,500,000,000 aggregate guarantee limit approved for 2025. This supports the subsidiary's operational activities, with the parent company's total outstanding guarantees reaching RMB 12,110,845,000, representing 61.14% of its net assets as of December 31, 2024.

Concurrently, Lingyi iTech is proceeding with the early redemption of its "Lingyi Convertible Bonds" at RMB 100.181 per bond, inclusive of accrued interest. The redemption was triggered after the company's stock price met the condition of closing at or above 130% of the current conversion price for 15 out of 30 consecutive trading days, ending September 8, 2025.

The convertible bonds will cease trading on October 10, 2025, and stop converting on October 15, 2025. Unconverted bonds by the October 14, 2025, registration date will be compulsorily redeemed. Funds will be disbursed to bondholders by October 22, 2025, after which the bonds will be delisted from the Shenzhen Stock Exchange.