Announcement on Providing Guarantees to External Parties
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed herein, and do not contain any false records, misleading statements, or significant omissions.
Special Risk Warning: The investee company, Zhejiang Jinmao Import and Export Co., Ltd., to which the Company is providing guarantees, had an asset-liability ratio exceeding 70% in its most recent financial statements. Investors are hereby reminded to pay close attention to the guarantee risk.
I. Overview of Guarantees
To meet the capital needs of its controlled subsidiaries and investee companies for production and operation, and to facilitate supply chain financing for the cocoon and silk industry, Zhejiang Jiaxin Silk Co., Ltd. (hereinafter referred to as the "Company") intends to provide guarantees totaling RMB 730 million to Zhejiang Jin Can Net Supply Chain Management Co., Ltd. (hereinafter referred to as "Jin Can Net Company"), its five controlled subsidiaries, its investee company Zhejiang Jinmao Import and Export Co., Ltd. (hereinafter referred to as "Jinmao Import and Export"), and other cocoon and silk supply chain enterprises. The guarantees will be used on a revolving basis within this limit, with the actual outstanding guarantee balance not exceeding RMB 730 million at any given time. The validity period will be from the date of approval by the 2025 Annual General Meeting of Shareholders until the date of the 2026 Annual General Meeting of Shareholders. The specific details are as follows: