Montnets Technology subsidiary secures 10m yuan loan backed by group guarantee

Montnets Cloud Technology Group Co., Ltd. (Montnets Technology) announced that its wholly-owned subsidiary, Shenzhen IOT Technology Co., Ltd. (IOT Technology), has secured a loan facility of up to 10 million yuan from Industrial Bank Co., Ltd. Shenzhen Branch. The one-year credit line is guaranteed by another Montnets Technology wholly-owned subsidiary, Shenzhen Montnets Technology Development Co., Ltd. (Shenzhen Montnets), under a maximum guarantee contract.

This guarantee falls within the previously approved 2.5 billion yuan general guarantee limit for Montnets Technology and its subsidiaries, authorized by the board of directors on June 12, 2025, and by shareholders on June 30, 2025. The scope of the guarantee covers the principal, interest, penalties, and other associated costs of the main debt. As of the announcement date, the cumulative external guarantees by Montnets Technology and its wholly-owned and controlled subsidiaries total 1.956 billion yuan, representing 114.34% of the company's most recent audited net assets.

IOT Technology, established on June 17, 2010, with a registered capital of 10 million yuan, is a wholly-owned subsidiary of Montnets Technology. Its primary business includes communication and electronic device sales and software development. For the fiscal year ending December 31, 2024, IOT Technology reported total assets of 854.0375 million yuan and total liabilities of 501.6283 million yuan, with a net loss of 9.2710 million yuan.