Hongxin Electron-Tech guarantees subsidiaries' financing

Xiamen Hongxin Electron-Tech Group Co., Ltd. (Hongxin Electron-Tech) announced its role as guarantor for two of its subsidiaries' financing. Hongxin Electron-Tech provided a joint and several liability guarantee for Sichuan Hongxin Cloud Creation Intelligent Manufacturing Technology Co., Ltd. (Sichuan Hongxin) to Chengdu Bank Co., Ltd. Nanchong Branch, for 22,800,000 yuan. Concurrently, it provided a maximum guarantee for Gansu Huihong Artificial Intelligence Technology Co., Ltd. (Huihong AI) to Industrial Bank Co., Ltd. Lanzhou Branch, for 10,000,000 yuan.

Both guarantees cover the principal, interest, and related expenses, with a guarantee period of three years from the maturity date of the respective main contract's debt. Shanghai Huihong Huachuang Technology Co., Ltd., which holds 70% of Sichuan Hongxin and is the sole shareholder of Huihong AI, is 60% owned by Hongxin Electron-Tech. Zhoushan Huhu Hongxin Intelligent Creation Equity Investment Partnership (Limited Partnership) holds the remaining 40% of Shanghai Huihong Huachuang and provides pro-rata counter-guarantees.

As of the disclosure date, the total outstanding external guarantees for which Hongxin Electron-Tech is responsible amount to 371,809,250 yuan, representing 322.92% of the company's audited net assets for 2024. The company has no overdue external guarantees or those involved in litigation.