Innuovo Technology guarantees subsidiary's bank facilities

Innuovo Technology Co., Ltd. has announced a maximum guarantee of 50 million yuan for its wholly-owned subsidiary, Zhejiang Lianyee Electric Co., Ltd. (Lianyee Electric). This guarantee, provided to the Bank of China, Dongyang Branch, covers Lianyee Electric's credit facilities through a joint liability guarantee.

The guarantee falls within the 290 million yuan limit approved for Lianyee Electric by Innuovo Technology's Tenth Board of Directors and Tenth Board of Supervisors in March 2025, and subsequently by the 2024 Annual General Meeting in April 2025. The total approved guarantee limit for all subsidiaries is 150 million yuan, valid for twelve months from the date of the 2024 Annual General Meeting approval. Lianyee Electric, established in 1994 with registered capital of 30 million yuan, is a profitable entity.

As of the announcement date, Innuovo Technology's total outstanding external guarantees amount to 553 million yuan, representing 20.57% of its latest audited net assets. All existing guarantees are for subsidiaries and do not involve overdue, litigious, or related-party guarantees. The company asserts that Lianyee Electric's sound financial condition ensures that associated risks remain manageable.