XINGYE TECH.: Provides a guarantee for a credit line of 70 million for its subsidiary Hongxing Automotive Leather

Zhitong
2025.08.20 08:43

In 2025, XINGYE TECH. Co., Ltd. approved a proposal to provide a cumulative new guarantee limit of no more than 1.43 billion yuan for its subsidiaries through the board of directors and the shareholders' meeting, including a limit of 520 million yuan for Hongxing Automotive Leather. Recently, Bank of China Shishi Branch approved a comprehensive credit line of 190 million yuan for Hongxing Automotive Leather, with XINGYE TECH. assuming joint liability for 70 million yuan of that amount. Hongxing Automotive Leather is a holding subsidiary of XINGYE TECH., with a 60% stake. Its financial status for the fiscal year 2024 and the first three months of 2025 shows that the debt-to-asset ratio decreased from 37.71% to 23.44%. As of now, the company's external guarantee limit is 1,099.5179 million yuan, accounting for 45.71% of the audited net assets attributable to the listed company for the fiscal year 2024, with no overdue guarantees

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