I. Overview of Illegal Guarantee Matters
From October 2019 to January 2020, Nanning Baling Technology Co., Ltd. (hereinafter referred to as the "Company") had its former secondary holding subsidiary, Hainan Hongrun Tianyuan Gene Biotechnology Co., Ltd. (hereinafter referred to as "Hainan Hongtian"), whose then-responsible person, Wang Anxiang, unlawfully provided pledges for three time deposit certificates totaling 466 million yuan without following the company's internal review procedures, ultimately leading to the complete transfer of funds under these certificates. As a result of these illegal guarantees, the company's stock has been under other risk warnings (ST) since July 2, 2020.