Announcement on the Progress of Providing Guarantees for Subsidiaries
Suzhou Chunxing Precision Industry Co., Ltd. (hereinafter referred to as "the Company" or "Chunxing Precision") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without any false records, misleading statements, or major omissions.
Special Risk Warning:
The total amount of external guarantees provided by Suzhou Chunxing Precision Industry Co., Ltd. and its holding subsidiaries exceeds 100% of the audited net assets for the year 2025, and the guarantee amount for the guaranteed objects with a debt-to-asset ratio exceeding 70% also exceeds 100% of the audited net assets for the year 2025. Additionally, the amount of guarantees provided for off-balance sheet entities exceeds 100% of the audited net assets for the year 2025. Investors are advised to pay close attention to guarantee risks.
The Company held the 18th meeting of the 6th Board of Directors on May 21, 2025, and the 3rd extraordinary general meeting of shareholders on June 6, 2025, to review and approve the proposal to provide counter-guarantees for its subsidiary Xuancheng Chunxing Machinery Manufacturing Co., Ltd. (hereinafter referred to as "Xuancheng Chunxing") for a loan of 10 million RMB from Xuancheng Wanan Rural Commercial Bank Co., Ltd. The Company and its subsidiary Jinzhai Chunxing Precision Industry Co., Ltd. (hereinafter referred to as "Jinzhai Chunxing") agreed to provide counter-guarantees to Anhui Kaisheng Financing Guarantee Co., Ltd.
For further details, please refer to the announcement titled "Announcement on Providing Counter-Guarantees for Xuancheng Chunxing's Financing" disclosed by the Company on May 22, 2025, on the Giant Tide Information Network and designated information disclosure media.
The Company held the 23rd meeting of the 6th Board of Directors on September 29, 2025, and the 5th extraordinary general meeting of shareholders on October 15, 2025, to review and approve the proposal to provide counter-guarantees for its subsidiary Jinzhai Chunxing's loan of 23 million RMB from Jinzhai Rural Commercial Bank Co., Ltd. (hereinafter referred to as "Jinzhai Rural Commercial Bank").
For further details, please refer to the announcement titled "Announcement on Providing Counter-Guarantees for Jinzhai Chunxing's Financing" disclosed by the Company on September 30, 2025.
The Company held the 26th meeting of the 6th Board of Directors on February 12, 2026, and the 1st extraordinary general meeting of shareholders on March 3, 2026, to review and approve the proposal to provide a guarantee limit of no more than 80 million RMB for its subsidiary Xu Zhou Chunzhixing Machinery Manufacturing Co., Ltd. The guarantee methods include but are not limited to guarantees, mortgages, and pledges, with the guarantee period lasting from the date of approval by the shareholders' meeting until the date of the 2026 annual shareholders' meeting.
For further details, please refer to the announcement titled "Announcement on Providing Guarantee Limits for Subsidiaries" disclosed by the Company on February 13, 2026.
The Company held the 27th meeting of the 6th Board of Directors on March 25, 2026, and the 2nd extraordinary general meeting of shareholders on April 10, 2026, to review and approve the proposal to provide counter-guarantees for Jinzhai Chunxing's loan of 6 million RMB from Jinzhai Huayin Village Bank Co., Ltd. (hereinafter referred to as "Jinzhai Huayin").
For further details, please refer to the announcement titled "Announcement on Providing Counter-Guarantees for Jinzhai Chunxing's Financing" disclosed by the Company on March 26, 2026.