Hongxin Electron-Tech guarantees subsidiary's 202m yuan lease

Xiamen Hongxin Electron-Tech Group announced further progress in its subsidiary guarantee program, initially approved at its March 12, 2025, extraordinary general meeting. The company's controlled subsidiary, Gansu Huihong Artificial Intelligence Technology Co. (Huihong AI), has entered into a financing lease agreement with Suzhou Silver Financial Leasing Co.

As part of this agreement, Xiamen Hongxin Electron-Tech Group and its actual controller, Mr. Li Qiang, have provided a joint and several liability guarantee to Suzhou Silver Leasing for the financing lease, covering a principal amount of 20,247.08 yuan. Huihong AI is a wholly-owned subsidiary of Shanghai Huihong Huachuang Technology Co., in which the company holds a 60% equity stake. Zhoushan Puhong Zhichuang Equity Investment Partnership (Limited Partnership), holding the remaining 40% of Huihong Huachuang, will provide counter-guarantees proportional to its stake for the financing lease.

As of the disclosure date, Xiamen Hongxin Electron-Tech Group's total outstanding guarantees amount to 492,883.60 yuan, representing 428.07% of its net assets as audited for 2024. The company's actual controller, Mr. Li Qiang, has cumulatively provided guarantees to the company totaling 233,877.26 yuan.