Guangzhou Zhiguang Electric Co., Ltd.
Announcement on the Progress of Applying for Comprehensive Credit Lines and Guarantees by the Company and its Subsidiaries to Banks and Financial Institutions
The Company and all members of its Board of Directors guarantee the authenticity, accuracy, and completeness of the information disclosed herein, and are not aware of any false records, misleading statements, or material omissions.
I. Overview of the Application for Comprehensive Credit Lines by the Company and its Subsidiaries to Banks and Financial Institutions
Guangzhou Zhiguang Electric Co., Ltd. (hereinafter referred to as the "Company" or "Zhiguang Electric") held its 10th meeting of the Seventh Board of Directors on April 13, 2026, and its 2025 Annual Shareholders' Meeting on May 6, 2026, respectively. Both meetings deliberated and approved the "Proposal on Applying for Comprehensive Credit Lines and Providing Guarantees to Banks and Financial Institutions in 2026." It was agreed that the Company and its holding subsidiaries (grand-subsidiaries) would apply for a total comprehensive credit line not exceeding RMB 8.65 billion (inclusive) from banks and financial institutions. The validity period is from the approval date of the Company's 2025 Annual Shareholders' Meeting to the date of the 2026 Annual Shareholders' Meeting. Within this total credit line, the Company and its holding subsidiaries (grand-subsidiaries) can apply to banks and financial institutions based on their profitability and solvency. The final credit line will be subject to the actual approval by the banks and financial institutions. During the credit period, the actual credit line can be used cyclically within the authorized scope. It was also agreed that the Company would provide a total guarantee not exceeding RMB 8.05 billion (inclusive) for the comprehensive credit lines applied for by its holding subsidiaries (grand-subsidiaries) from banks and financial institutions in 2026. The validity period is from the approval date of the Company's 2025 Annual Shareholders' Meeting to the date of the 2026 Annual Shareholders' Meeting. Within the aforementioned limit, the specific guarantee amount and period will be subject to the agreement between the holding subsidiaries (grand-subsidiaries) and the relevant banks and financial institutions, and the guarantee can be applied for multiple times.
For details, please refer to the "Announcement on Applying for Comprehensive Credit Lines and Guarantees to Banks and Financial Institutions in 2026," "Resolution of the 10th Meeting of the Seventh Board of Directors," and "Resolution of the 2025 Annual Shareholders' Meeting" disclosed by the Company on Juchao Information Network on April 15, 2026, and May 7, 2026.
II. Progress of Credit and Guarantee Matters
Recently, regarding the aforementioned credit and guarantee matters, the Company has signed "Maximum Amount Guarantee Contracts" with various banks.
Details are as follows:
The Company signed a "Guarantee Contract" with the Yuexiu Branch of Industrial and Commercial Bank of China Limited, Guangzhou (hereinafter referred to as "ICBC Guangzhou Yuexiu Branch") to provide a joint liability guarantee of RMB 15 million for the loan applied by its holding subsidiary, Guangzhou Zhiguang Electric Technology Co., Ltd., from ICBC Guangzhou Yuexiu Branch.