Announcement on Progress of External Guarantees
The company and its board of directors guarantee the truthfulness, accuracy, and completeness of the information disclosed herein, and do not have any false records, misleading statements, or significant omissions.
I. Review of Guarantees
Zhejiang Jiaxin Silk Co., Ltd. (hereinafter referred to as the "Company") held its 15th meeting of the 9th Board of Directors on March 27, 2026, and its 2025 Annual General Meeting on April 21, 2026, which deliberated and approved the "Proposal on Providing External Guarantees." It was agreed that the Company would provide guarantees for five controlled subsidiaries, including Zhejiang Jinsilong Supply Chain Management Co., Ltd., and its investee Zhejiang Yinmao Import and Export Co., Ltd. (hereinafter referred to as "Yinmao Import and Export"), and cocoon and silk supply chain enterprises, with a total credit line not exceeding RMB 730 million. This credit line will be used on a revolving basis within the approved limit, and the actual outstanding guarantee balance at any given time shall not exceed RMB 730 million. The validity period is from the date of approval by the 2025 Annual General Meeting to the date of the 2026 Annual General Meeting. For details, please refer to the relevant announcements disclosed by the Company on March 31, 2026, and April 22, 2026, in the Securities Times and on the Juchao Information Network (http://cninfo.com.cn).
II. Progress of Guarantees
- On May 15, 2026, the Company signed a "Maximum Amount Guarantee Contract" (Contract No.: JXB2026 Ren Bao 395) with the Jiaxing Branch of Bank of China Co., Ltd. (hereinafter referred to as "Bank of China"), agreeing to provide a joint liability guarantee of up to RMB 10 million for the borrowings, trade financing, guarantees, fund business, and other credit business of its investee, Yinmao Import and Export, with Bank of China.