GCL Energy Technology updates on subsidiary guarantees and adjustments

GCL Energy Technology announced updates on its guarantees for controlled subsidiaries, approved during its 2024 Annual General Meeting. The company approved a total guarantee limit of 33.669 bn yuan for 2025 for itself and its subsidiaries, including 32.901 bn yuan for consolidated subsidiaries.

Key adjustments included reallocating 510.68 m yuan from GCL Smart Energy (Suzhou) to other subsidiaries with a debt-to-asset ratio below 70%, such as Jiaxing GCL Environmental Thermal Power, Taicang Green Energy Thermal Power, and Nantong GCL Thermal Power. Additionally, 150 m yuan from Xianju Xinbo New Energy was transferred to Lanxi GCL Environmental Thermal Power, a subsidiary with a debt-to-asset ratio exceeding 70%.

The announcement detailed 26 specific guarantee agreements made throughout 2025, covering various financial leasing and loan facilities. As of the disclosure date, the cumulative external guarantees by the company and its controlled subsidiaries amounted to 26,570,230,600 yuan, representing 226.34% of the net assets as of 2024 audit. The outstanding guarantee balance stands at 18,550,756,800 yuan, which is 158.03% of the 2024 net assets. No overdue guarantees or guarantees involved in litigation leading to losses were reported.