Securities Code: 000980 Securities Abbreviation: Zotye Auto Announcement No.: 2026-027
Zotye Auto Co., Ltd.
Announcement on the Estimated Guarantee Amount for Subsidiaries in 2026
The company and all members of the board of directors guarantee that the content of this announcement is true, accurate, and complete, without any false records, misleading statements, or significant omissions.
Special Reminder:
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The estimated guarantee amount has not yet occurred, and the guarantee agreement has not been signed. After the guarantee matters actually occur, the company will fulfill its information disclosure obligations in a timely manner in accordance with relevant regulations on information disclosure.
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As of December 31, 2025, the asset-liability ratio of the wholly-owned subsidiary Zhejiang Zotye Auto Manufacturing Co., Ltd. and Hunan Jiangnan Auto Manufacturing Co., Ltd. exceeds 70%, while the asset-liability ratio of the wholly-owned subsidiary Zhejiang Shenkang Auto Body Mould Co., Ltd. exceeds 50%. Investors are advised to pay full attention to the guarantee risks. The estimated guarantee amount does not exceed RMB 1.5 billion, accounting for approximately 1309.64% of the company's most recent audited net assets.
Zotye Auto Co., Ltd. (hereinafter referred to as "the Company") held the second meeting of the ninth board of directors and the third meeting of the audit committee on April 27, 2026, where the proposal on the estimated guarantee amount for subsidiaries in 2026 was reviewed and approved, and the proposal was submitted to the company's shareholders' meeting for deliberation. The specific content is announced as follows:
I. Overview of Proposed Guarantees
(1) In order to effectively utilize the overall advantages of the company and create favorable operating conditions for its subsidiaries, based on the actual situation of the daily operations and funding needs of the subsidiaries, the company plans to provide an estimated guarantee amount not exceeding RMB 1.5 billion for its subsidiaries in 2026. Among them, the guarantee amount for subsidiaries with an asset-liability ratio of over 70% will not exceed RMB 1 billion, and the guarantee amount for subsidiaries with an asset-liability ratio of below 70% will not exceed RMB 500 million.
The above guarantee amount will be used on a rolling basis, and the actual guarantee balance at any point in time will not exceed the approved guarantee amount. Guarantees that have been fulfilled, expired, or extinguished will no longer occupy the guarantee amount.
(2) The scope of the above guarantee matters includes but is not limited to applying for comprehensive credit from banks, loans, financing leases, and conducting other daily business operations. The guarantee methods include but are not limited to joint liability guarantees, collateral guarantees, etc., and the guarantee period will be performed according to the actual signed agreements. The specific guarantee matters are authorized to the company's management to sign relevant contracts based on actual conditions.
(3) According to the "Shenzhen Stock Exchange Stock Listing Rules" and the company's articles of association, the above guarantee matters still need to be submitted to the company's shareholders' meeting for deliberation. The validity period of the above guarantee amount is from the date of approval by the shareholders' meeting until the date of the company's 2026 annual shareholders' meeting.
II. Estimated Guarantee Amount Situation
(1) Overall Guarantee Amount Situation
The company has made a reasonable estimate of the amount of guarantees to be provided for its subsidiaries, estimating that the guarantee amount will not exceed RMB 1.5 billion, with the specific allocation of the guarantee amount as follows: