Woer Heat-Shrinkable Material guarantees Rmb80m for key subsidiaries

Shenzhen Woer Heat-Shrinkable Material Company Limited recently announced progress in providing guarantees for its controlled subsidiaries, Shanghai Ke Te New Material Co., Ltd. and Shenzhen Woer New Energy Electric Technology Co., Ltd. The company signed "Maximum Guarantee Contracts" and "Maximum Irrevocable Guarantee Letters" with Industrial and Commercial Bank of China and China Merchants Bank, respectively. These agreements cover a combined maximum guaranteed principal amount of Rmb80m.

These guarantees align with previously approved total credit limits of Rmb180m for Shanghai Ke Te and Rmb250m for Woer New Energy. Specifically, Rmb30m was guaranteed for Shanghai Ke Te with Industrial and Commercial Bank of China, and Rmb50m for Woer New Energy with China Merchants Bank. The guarantees are full and joint liability, with terms extending up to three years beyond the loan maturity dates.

As of the disclosure date, Woer Heat-Shrinkable Material's total approved external guarantees amount to Rmb1.067bn, representing 19.29% of its latest audited net assets and 10.40% of total assets. The actual external guarantees incurred total Rmb408.1782m, accounting for 7.37% of net assets and 3.98% of total assets. All guarantees are for controlled subsidiaries, with no overdue guarantees reported.