Estun Automation’s guarantee, equity pledge liabilities released after loan repayment

Nanjing Estun Automation Co., Ltd. (Estun Automation) has announced the release of its guarantee liabilities and the termination of equity pledges related to a €28 million loan. This follows the full and early repayment of the loan by Estun Automation's wholly-owned subsidiary, Cloos Holding GmbH, to China Merchants Bank. The initial loan, granted to Cloos Holding GmbH, was secured by a joint and several liability guarantee from Estun Automation and its controlling shareholder, Nanjing Pioneer Automation Technology Co., Ltd.

Further security for the loan was provided through equity pledges by Estun Automation's wholly-owned subsidiary, Nanjing Dingpai Electromechanical Technology Co., Ltd., which pledged its 100% equity in Cloos Holding GmbH. Additionally, Cloos Holding GmbH pledged its 100% equity in Carl Cloos Schweißtechnik GmbH. These pledge agreements, along with the guarantee contracts, have now been terminated, releasing all associated liabilities.

As of the disclosure date, Estun Automation and its subsidiaries have a total outstanding guarantee amount of RMB 8.4914 million, representing 0.47% of the company's net assets as of December 31, 2024. The total guarantee limit stands at RMB 890 million, accounting for 49.76% of its net assets. The company confirms there are no overdue external guarantees, no litigation arising from overdue guarantees, and no losses expected from such circumstances.