Hongxin Electron-Tech boosts financing for key subsidiaries

Xiamen Hongxin Electron-Tech Group Co., Ltd. announced its progress in providing guarantees for its controlling subsidiary, Shanghai Ruihong Huachuang Technology Co., Ltd. and Xiamen Hongchuang Zhiyuan Technology Co., Ltd., following shareholder approval on March 12, 2025.

The guarantees include a joint and several liability guarantee of CNY 5,500.00 million for Ruihong Huachuang's domestic letter of credit facility with Hangzhou Bank Co., Ltd. Shanghai Branch, and CNY 9,870.00 million for Hongchuang Zhiyuan's financing lease projects with Lenovo Financial Leasing Co., Ltd. Zhoushan Huhong Zhichuang Equity Investment Partnership (Limited Partnership) provided counter-guarantees for these arrangements.

As of the disclosure date, the company's total outstanding external guarantees amount to CNY 472,636.52 million, representing 410.49% of its net assets as audited for 2024. The company confirmed that there are no overdue external guarantees or those involved in litigation.