Lingyi iTech guarantees subsidiaries' financing for 2025 operations

Lingyi iTech (Guangdong) Company has announced the progress of guarantees provided to its subsidiaries. Following approvals from its board of directors and shareholders in late 2024, the company and its subsidiaries are authorized to provide guarantees totaling up to RMB 3,500m for 2025. This allows for flexible allocation of guarantee quotas among the company and its controlled subsidiaries, including newly established ones, to support their normal production and operation activities.

Recently, Lingyi iTech, along with Ningbo Bank Suzhou Branch, signed a Master Guarantee Contract. Under this agreement, Lingyi iTech provides joint and several liability guarantees for Changzhou Lingsheng New Energy Technology Co., Ltd. and Fujian Lingfu New Energy Technology Co., Ltd., covering maximum principal amounts of RMB 62m and RMB 31m, respectively. Additionally, Ningde Lingsheng Investment Co., Ltd., another shareholder, provides guarantees for maximum principal amounts of RMB 38m and RMB 19m, respectively, proportionate to its equity stake. The guarantee period is two years from the maturity of the debtor's obligations under the main contract.

As of the announcement date, Lingyi iTech's total actual guarantee balance is RMB 1,338,792.46m, representing 67.59% of the company's net assets as of December 31, 2024. All guarantees are within the approved limits, and there are no overdue external guarantees, litigation-related guarantees, or losses from defeated lawsuits.