GGEC: Provides nearly 100 million in guarantees for its subsidiary

GGEC recently signed an external guarantee contract with banks to provide nearly 100 million in guarantees for its wholly-owned subsidiary, Guoguang Electronics, including a joint liability guarantee of 66 million yuan to Zhejiang Merchants Bank and 39 million yuan to Guangzhou Rural Commercial Bank, with a guarantee period of three years. Guoguang Electronics mainly engages in polymer lithium-ion batteries, and GGEC holds 100% of its shares. As of June 30, 2025, GGEC and its holding subsidiaries have a guarantee limit of 2.82 billion yuan, with a signed balance of 1.256 billion yuan, accounting for 29.36% of net assets

The consumer electronics sector fluctuated lower, with Siquan New Materials falling over 10%. YD Electronic, Longcheer, LUXSHARE-ICT, GGEC, and FII also saw significant declines

The concept of edge-side hardware has seen a significant surge, with GGEC hitting the daily limit

In the late trading session, the concept of edge hardware saw a surge, with GGEC hitting the daily limit, BLUETRUM and Espressif Tech rising over 9%, and BES, Runxin Technology, Yingtong Communications, and Edifier also following suit. On the news front, OpenAI's third annual developer conference is scheduled to be held on October 6 in San Francisco. The conference will focus on the application expansion of AI technology in the hardware field, which may boost the consumer electronics supply chain by deeply integrating hardware manufacturing with AI technology, ushering in a new era of "edge intelligence."

GGEC has opened a special account for cash management of raised funds and signed a tripartite supervision agreement

GGEC announced that the company has been approved by the China Securities Regulatory Commission to issue shares to specific targets, expecting to raise funds of 1.375 billion yuan on December 14, 2023, which will be deposited into a dedicated account. The company has opened a cash management special settlement account for raised funds at China Galaxy Securities, which will only be used for managing idle funds. The company has analyzed investment risks and formulated control measures to ensure that cash management does not affect fundraising projects and operations, while also improving fund efficiency. The company also disclosed the main content of the tripartite supervision agreement, which is valid until the dedicated account is closed, and the obligations of the sponsor institution will last until December 31, 2025

GGEC released its performance for the first half of the year, with a net profit attributable to the parent company of 64.3566 million yuan, a decrease of 38.61%

GGEC released its semi-annual report for 2025, with operating revenue of 3.879 billion yuan, a year-on-year increase of 27.72%. The net profit attributable to shareholders was 64.3566 million yuan, a year-on-year decrease of 38.61%; the net profit after deducting non-recurring gains and losses was 35.9551 million yuan, a year-on-year decrease of 51.40%. The basic earnings per share were 0.11 yuan