Hongxin Electron-Tech boosts subsidiaries with 116m yuan in new guarantees

Xiamen Hongxin Electron-Tech Group Co., Ltd. recently provided new guarantees for its subsidiaries, Jiangsu Suihong Jiankang Zhisuan Technology Co., Ltd. (Suihong Jiankang), and Shanghai Suihong Huachuang Technology Co., Ltd. (Suihong Huachuang). This action follows the approval of the 2025 annual guarantee quota for subsidiaries during the first extraordinary general meeting on March 12, 2025.

The company, along with its actual controller Mr. Li Qiang, signed a Maximum Guarantee Contract with Jiangsu Suqiao Bank Co., Ltd. to provide joint liability guarantee for Suihong Jiankang's financing, covering an amount of 80,000,000 yuan. Additionally, the company provided a joint liability guarantee for Suihong Huachuang’s comprehensive credit line with Dalian Bank Co., Ltd. Shanghai Branch, amounting to 36,000,000 yuan. Zhoushan Puhong Zhichuang Equity Investment Partnership, which holds 40% of Suihong Huachuang, provided proportional counter-guarantees for both transactions.

As of the disclosure date, the company's total outstanding external guarantees amount to 504,483,600 yuan, representing 438.15% of its net assets as audited for 2024. The company reported no overdue or disputed external guarantee matters.