Ovctek subsidiary guarantees loan for eye hospital's operational needs

Maanshan Megadevice Medical Technology Co., Ltd., a controlling subsidiary of Ovctek China Inc.'s wholly-owned Ovctek Investment Co., Ltd., has agreed to provide a joint and several liability guarantee for a credit line of up to 3 million yuan to Maanshan Kangshi Eye Hospital Co., Ltd. The one-year credit is from the Pudong Development Bank's Hefei branch.

This guarantee supports the operational and developmental capital needs of Maanshan Kangshi Eye Hospital, aligning with Ovctek China Inc.'s strategic objectives. As of the disclosure date, the cumulative guarantee amount by Ovctek China Inc. and its subsidiaries is 21 million yuan, representing 0.45% of the company's most recent audited net assets.

The guarantee is provided by a controlling subsidiary for another within the consolidated financial statements, requiring internal approval at the subsidiary level. Maanshan Mingmoushanming Enterprise Management Partnership, another shareholder of Maanshan Kangshi Eye Hospital, has provided counter-guarantees through equity pledges.