Lingyi iTech progresses on subsidiary guarantees for 2025 operations

Lingyi iTech announced the latest progress in providing guarantees for its subsidiaries. Following approvals from its board of directors and shareholders in late 2024, the company and its subsidiaries are authorized to provide guarantees for financing or other performance obligations up to a total of RMB 35,000,000 for 2025.

Recently, Lingyi iTech signed a "Maximum Guarantee Contract" with China CITIC Bank Shenzhen Branch. This agreement provides a joint and several liability guarantee for debts totaling RMB 300,000,000 each for its wholly-owned subsidiaries, Dongguan Shengxiang Precision Metal Co., Ltd. and Shenzhen Linglue CNC Equipment Co., Ltd., under their respective comprehensive credit facility contracts. These guarantees cover a period from December 3, 2025, to June 18, 2027.

Additionally, Lingyi iTech's wholly-owned subsidiary, Lingyi Technology (Shenzhen) Co., Ltd., entered into an "Asset Pool Business Cooperation Agreement" and "Maximum Pledge Contract" with China CITIC Bank, providing pledges for RMB 300,000,000 each for Dongguan Shengxiang and Shenzhen Linglue. As of the disclosure date, Lingyi iTech's total actual guarantee balance stands at RMB 13,443,316,400, representing 67.87% of the company's net assets as of December 31, 2024.