Securities Code: 000599
Securities Abbreviation: Qingdao Double Star
Announcement Number: 2026-048
Qingdao Double Star Co., Ltd.
Announcement on Guarantee Provided by Controlling Subsidiary for its Subsidiary
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false representations, misleading statements, or material omissions.
Special Reminder:
The amount of this guarantee exceeds 50% of Qingdao Double Star Co., Ltd.'s (hereinafter referred to as the "Company") net assets attributable to the parent company as of the end of the first half of 2026. This guarantee is provided by a subsidiary of the Company for a legal entity within the scope of the Company's consolidated financial statements, and the financial risks of the guarantee are within the Company's controllable range.
This guarantee is subject to the approval of the Company's shareholders. Investors are advised to pay close attention to the guarantee risk.
I. Overview of Guarantee Situation
Kumho Tire Co., Ltd. (hereinafter referred to as "Kumho Tire"), a subsidiary of the Company, plans to apply for a loan of up to EUR 300 million (approximately RMB 2.34 billion) from HSBC Continental Europe for its subsidiary, Kumho Tire Poland Sp. z o.o. (hereinafter referred to as "Kumho Poland"), to accelerate the construction of the Kumho Poland factory. Kumho Tire plans to provide a joint liability guarantee for the aforementioned loan, with a guarantee amount not exceeding EUR 450 million (approximately RMB 35.1 billion).