Victory Giant Technology guarantees loan for subsidiary

Victory Giant Technology (Huizhou) Co., Ltd. recently announced a new guarantee agreement for its indirect wholly-owned subsidiary. The company entered into a guarantee contract with the Changsha branch of China Everbright Bank, providing a joint and several liability guarantee for the subsidiary's bank credit application. This action falls under the RMB 800.43 million guarantee quota approved by the company's 2024 annual general meeting.

The new guarantee covers an amount of RMB 32,000,000, bringing the subsidiary's total outstanding guarantee balance to RMB 34,500,000. This leaves a remaining available guarantee balance of RMB 28,000,000 for the subsidiary. The guarantee period extends for three years from the maturity date of the main debt, or from the effective date of the contract until three years after the last installment's performance period if paid in installments.

As of the announcement date, Victory Giant Technology and its controlling subsidiaries have provided cumulative external guarantees totaling RMB 941,782,000, representing 10.55% of the company's net assets as of December 31, 2024. All these guarantees are between the company and its wholly-owned subsidiaries. The company has no overdue external guarantees, no guarantees involved in litigation, and no guarantees that have resulted in adverse judgments.