Nations Technologies guarantees RMB 30m for Hubei Snuo, raising total exposure

Nations Technologies Co., Ltd. announced a new RMB 30 million joint and several liability guarantee for Hubei Snuo New Material Technology Co., Ltd. This guarantee was made under a maximum guarantee contract with China CITIC Bank Co., Ltd., Xiangyang Branch. The decision follows resolutions from the Sixth Session of the Sixth Board of Directors on April 16, 2025, and the 2024 Annual General Meeting on May 7, 2025, which approved an additional guarantee limit of up to RMB 70 million for Hubei Snuo.

Hubei Snuo, a wholly-owned subsidiary of Inner Mongolia Snuo New Material Technology Co., Ltd., is ultimately controlled by Nations Technologies, which holds an 85.5268% equity interest in Inner Mongolia Snuo. Following this latest guarantee, Nations Technologies' total guarantee amount for its controlling subsidiaries and consolidated entities has reached RMB 2,060,748,100. As of the disclosure date, the total outstanding guarantee balance, excluding this new transaction, stands at RMB 1,019,236,100, representing 103.02% of the company's net assets as of the end of 2024.

Hubei Snuo reported total assets of RMB 1,202,788,400 and net assets of RMB 388,166,000 at the end of 2024. For the full year 2024, it recorded an operating income of RMB 117,815,000 and a net loss of RMB 26,174,200. As of September 30, 2025, its total assets were RMB 1,082,023,000, and net assets were RMB 401,312,000, with an operating income of RMB 71,723,500 and a net loss of RMB 13,028,100 for the nine months ended September 30, 2025. Nations Technologies highlighted a significant risk warning, noting that the total guarantee amount for the company and its controlling subsidiaries now exceeds 100% of the company's latest audited net assets.