Kyland technology secures loan with equity pledge in associate

Kyland Technology has announced its intention to apply for a loan of up to 120 million yuan from the Bank of East Asia (China) Limited, Beijing Branch. This three-year loan will be secured by pledging a 7.6172% equity stake in its associate, Neuron Information Technology (Chengdu) Co., Ltd. The decision, approved during a board meeting, aims to optimize the company's financing structure and improve capital utilization.

This latest move follows the board's earlier approval for Kyland Technology and its subsidiaries to apply for a comprehensive credit line of up to 200 million yuan from financial institutions. The board has authorized chairman Li Ping, or his designated representative, to handle all related loan application procedures and sign necessary legal documents.

Neuron Information Technology (Chengdu) Co., Ltd., established on May 19, 2017, is involved in software development, AI applications, and industrial internet services. Kyland Technology currently holds an 18.2846% stake in Neuron Information. The company asserts that this financing strategy will not pose significant financial risks or negatively impact its operations.