Henan Yicheng New Energy guarantees over 100bn yuan in subsidiary financing

Henan Yicheng New Energy announced it will provide a 4bn yuan joint liability guarantee for its controlling subsidiary, Henan Pingmei Shenma Energy Storage Co., Ltd., which is undertaking a 5bn yuan financial leasing transaction with Shanghai Guohou Financial Leasing Co., Ltd. The financing will be used for production-related equipment and fixed assets. Shanghai Guohou is a related party, controlled by the same ultimate parent as Henan Yicheng New Energy.

Additionally, Henan Yicheng New Energy is guaranteeing financing for two other subsidiaries. It will guarantee 60bn yuan for Shanxi Meishan Lake Technology Co., Ltd. for a mix of fixed asset loans and working capital, and 3bn yuan for Anshan Zhongte New Material Technology Co., Ltd. for working capital. It will also guarantee 1bn yuan for Kaifeng Times New Energy Technology Co., Ltd. for working capital.

As of November 30, 2025, Henan Yicheng New Energy's total external guarantees for its subsidiaries amounted to 161.1489bn yuan, representing 12.20% of its latest audited total assets and 29.93% of its net assets. These guarantees are deemed necessary for business development and are consistent with company strategy.