East Group guarantees subsidiary's new loan of 50m yuan

East Group Co., Ltd. announced that its wholly-owned subsidiary, Zhongneng Yidian New Energy Technology Co., Ltd., has secured a new credit facility from Dongguan Rural Commercial Bank Co., Ltd., Songshan Lake Technology Sub-branch, with an aggregate credit limit of 50m yuan. The company will provide an irrevocable joint and several liability guarantee for Zhongneng Yidian's obligations.

This new guarantee falls under a broader resolution approved by the company's seventh board of directors' tenth meeting on April 28, 2025, and the 2024 annual shareholders' meeting on May 20, 2025. This resolution permits the company to provide guarantees totaling up to 4,408m yuan for financing activities of its nine subsidiaries. Zhongneng Yidian's estimated financing needs were 1,500m yuan, for which East Group committed a guarantee not exceeding 1,500m yuan.

As of the disclosure date, East Group and its holding subsidiaries have a cumulative guarantee amount of 2,348.3377m yuan, representing 34.32% of the company's 2024 audited net assets. The actual outstanding guarantee balance is 1,962.2086m yuan, which is 28.68% of the 2024 audited net assets. The company reported no overdue guarantees or related litigation.