Shanghai STEP added a guarantee of 50 million for the holding company, warning of risks

Shanghai STEP Electric Co., Ltd. released an announcement regarding the progress of guarantees for its holding company. The company previously approved a guarantee limit of no more than 1.05 billion yuan for its subsidiaries, including no more than 500 million yuan for Huitong Technology. Recently, the company signed a guarantee letter with the Shanghai branch of China Merchants Bank, providing joint liability guarantees for a credit limit of 50 million yuan and related expenses for Huitong Technology. After this usage, Huitong Technology has a remaining limit of 260 million yuan, and after this guarantee, the company's guarantee balance for it reaches 500 million yuan. This guarantee is within the expected limit and does not require additional review. After the guarantee, the company's and holding company's guarantee limit is 1.71 billion yuan, accounting for 136.90% of net assets; the external guarantee balance is 930 million yuan, accounting for 74.46%. The company reminds investors to pay attention to guarantee risks