Shenzhen Wanrun Technology Co., Ltd. (hereinafter referred to as "the Company" or "Wanrun Technology") held the seventh meeting of the sixth board of directors on April 24, 2025, and the annual general meeting of shareholders on May 16, 2025, to review and approve the proposal regarding the application for comprehensive credit limits and guarantees from external institutions. The Company and its subsidiaries (including all wholly-owned and controlling subsidiaries currently and in the future included in the Company's consolidated financial statements, hereinafter collectively referred to as "subsidiaries") are authorized to apply for a total comprehensive credit limit not exceeding RMB 3 billion (excluding effective and unexpired limits) from banks, financing leasing companies, partners, and other external institutions. The scope of business under the comprehensive credit limit includes but is not limited to loans, acceptance bills and discounts, guarantees, note pools, letters of credit, financing leases, foreign exchange derivatives, etc. This limit can be used in a revolving manner.
The Company agrees to provide guarantees for its subsidiaries not exceeding RMB 1.2 billion, and guarantees for subsidiaries with a debt-to-asset ratio below 70% (inclusive) not exceeding RMB 900 million, and guarantees for subsidiaries with a debt-to-asset ratio above 70% not exceeding RMB 400 million. Within the aforementioned estimated total guarantee limit, the guarantee limits among the entities can be adjusted. The relevant guarantee matters shall be subject to the formally signed guarantee agreements, and the guarantee limits for the same credit business shall not be calculated repeatedly. The guarantee balance at any point in time shall not exceed the limit approved by the shareholders' meeting. This limit can also be used in a revolving manner.