Guangdong ShunNa Electric Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without any false records, misleading statements, or significant omissions.
Special Reminder: The guarantee amount provided by Guangdong ShunNa Electric Co., Ltd. to its controlling subsidiaries exceeds 100% of the latest audited net assets. Investors are advised to pay close attention to the guarantee risks.
I. Overview of the Guarantee Situation
On April 14, 2026, the Company held the 12th meeting of the 11th Board of Directors, where it reviewed and approved the proposal on the provision of guarantees to controlling subsidiaries for 2026. To meet the operational capital needs of its controlling subsidiaries, the Company plans to provide joint liability guarantees for bank financing not exceeding 1 billion RMB in total for the year 2026. The specific guarantee amount within this limit will be based on the actual amounts incurred by banks and other financial institutions. This proposal is subject to approval by the shareholders' meeting. The controlling subsidiaries include: ShunTe Electric Co., Ltd. (hereinafter referred to as "ShunTe Electric"), ShunTe Electric Equipment Co., Ltd. (hereinafter referred to as "ShunTe Equipment"), and ShunTe (Guangdong) New Energy Technology Co., Ltd. (hereinafter referred to as "ShunTe New Energy").
Guarantee Period: From the date of approval of this proposal by the Company's 2025 annual shareholders' meeting until the date of the Company's 2026 annual shareholders' meeting. The guarantee methods include but are not limited to mortgage guarantees, pledge guarantees, and guarantee guarantees. To improve work efficiency and promptly handle credit and corresponding guarantee matters, the Company authorizes the general manager to represent the Company in handling relevant guarantee matters within the above guarantee limit, signing all legal documents related to business dealings with financial institutions, and coordinating the use of the guarantee limit among controlling subsidiaries based on operational needs.
II. Estimated Guarantee Amount
Note: The "Actual Guarantee Balance" in the table below refers to the amount as of March 31, 2026.
| Guarantor | Guaranteed Party | Company’s Equity Ratio | Guaranteed Party's Latest Audited Debt Ratio | Actual Guarantee Balance | New Guarantee Amount | Guarantee Amount as a Percentage of Company’s Latest Audited Net Assets | Related Party Guarantee |
|---|---|---|---|---|---|---|---|
| ShunTe Electric | 100% | 11.25% | 210 million RMB | 1 billion RMB | 103.22% | No | |
| ShunTe Equipment | 75% | 51.12% | |||||
| ShunTe New Energy | 100% | 30.18% |