Shenzhen Megmeet Electrical Co., Ltd. (hereinafter referred to as "the Company") and all members of the board guarantee that the information disclosed is true, accurate, and complete, without false records, misleading statements, or significant omissions.
Special Reminder:
- Guaranteed Party: Subsidiary Zhejiang Yihe Bathroom Co., Ltd.
- As of the date of this announcement, the balance of guarantees provided by the Company for subsidiaries with a debt-to-asset ratio exceeding 70% is RMB 0 billion, accounting for 0% of the Company's most recent audited net assets, reminding investors to pay attention to guarantee risks.
- All guarantees provided by the Company are solely for subsidiaries within the scope of consolidated financial statements, and the Company and its subsidiaries have not provided guarantees for entities outside the consolidated financial statements.
I. Guarantee Progress
Shenzhen Megmeet Electrical Co., Ltd. held the fourth meeting of the sixth board of directors on April 28, 2026, and the annual shareholders' meeting for 2025 on May 27, 2026, where it reviewed and approved the proposal on the expected guarantee amount for wholly-owned and controlled subsidiaries for 2026. Based on the funding needs of the Company's wholly-owned and controlled subsidiaries, from the date of approval at the 2025 annual shareholders' meeting until the 2026 annual shareholders' meeting, the Company plans to provide guarantees totaling no more than RMB 6.07 billion for its subsidiaries, with a maximum guarantee amount of RMB 1.32 billion for subsidiaries with a debt-to-asset ratio below 70% and RMB 4.75 billion for subsidiaries with a debt-to-asset ratio above 70%. For specific details, please refer to the announcement disclosed by the Company on April 29, 2026, on the Giant Tide Information Network (www.cninfo.com.cn) titled "Announcement on the Expected Guarantee Amount for Wholly-Owned and Controlled Subsidiaries for 2026" (Announcement No.: 2026-030). Recently, the Company provided joint liability guarantees for Zhejiang Yihe Bathroom Co., Ltd. for its application for a comprehensive credit limit of RMB 150 million from China Construction Bank Co., Ltd. Taizhou Jiaojiang Branch.
After this guarantee is provided, the cumulative principal amount of guarantees for Yihe Bathroom in 2026 will be RMB 150 million. The above guarantee falls within the scope, limit, and related adjustment limits approved at the Company's 2025 annual shareholders' meeting.