Xingye Leather Technology Co., Ltd. (hereinafter referred to as "the Company") and all members of the board of directors guarantee that the information disclosed is true, accurate, and complete, without false records, misleading statements, or significant omissions.
The Company held the second meeting of the seventh board of directors on April 25, 2026, where it reviewed and approved the proposal on the guarantee limit for its subsidiaries. This proposal was subsequently approved by the Company's 2025 annual general meeting on May 19, 2026. The Company will provide a cumulative guarantee limit not exceeding 1.48 billion yuan for its subsidiaries, including a guarantee limit of 520 million yuan for Hongxing Automotive Leather (Fujian) Development Co., Ltd. (hereinafter referred to as "Hongxing Automotive Leather"). The validity period of the above guarantee limit is within 12 months from the date of approval by the general meeting of shareholders. For specific details, please refer to the announcement titled "Announcement on Guarantee Limits for Subsidiaries" (2026-016) disclosed by the Company on April 28, 2026, in the Securities Times, Securities Daily, and the Giant Tide Information Network (www.cninfo.com.cn).
1. Overview of Guarantees
CITIC Bank Co., Ltd. Quanzhou Branch (hereinafter referred to as "CITIC Bank Quanzhou Branch") has approved a comprehensive credit limit of 50 million yuan for Hongxing Automotive Leather, which can be used for trade financing, working capital loans, etc. The credit period is one year from the date of approval by CITIC Bank Quanzhou Branch, and the Company will provide a joint liability guarantee not exceeding 50 million yuan for this credit and its financing conditions.