Huahong Technology provides an update on the progress of nearly 240 million guarantees for its subsidiaries

On April 23 and May 23, 2025, the board of directors and shareholders' meeting of Huahong Technology approved a proposal to provide a guarantee limit of no more than 2 billion yuan for its subsidiaries. Recently, the company signed multiple "Maximum Guarantee Contracts" with CITIC Bank and Huishang Bank, providing joint liability guarantee for a total credit of 239 million yuan for subsidiaries such as Xintai Technology and Jiangxi Wanhong, with some other shareholders of the subsidiaries providing counter-guarantees. The guaranteed subsidiaries are not listed as dishonest executors. As of the announcement date, the company's guarantee balance for subsidiaries is 1.2608 billion yuan, accounting for 37.88% of the audited net assets for the fiscal year 2024, with no overdue, litigation-related guarantees or associated losses