Jiahua New Energy Co., Ltd. Announcement on Progress of Guarantees for Subsidiaries
The Company and the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or material omissions.
I. Overview of Guarantee Situation
Jiahua New Energy Co., Ltd. (hereinafter referred to as the "Company" or "Jiahua New Energy") held the 30th meeting of the Fifth Board of Directors and the 26th meeting of the Fifth Supervisory Board on April 24, 2025, and the 2024 Annual General Meeting on May 23, 2025, respectively. The proposal on the estimated guarantee limit for 2025 was deliberated and approved. It was agreed that the Company and its holding subsidiaries would provide a total guarantee limit of RMB 1,050,000,000.00 for wholly-owned and holding subsidiaries in 2025. The guarantee limit is valid for twelve months from the date of approval by the general meeting of shareholders. For details, please refer to the "Announcement on the Estimated Guarantee Limit for 2025" (Announcement No.: 2025-020) disclosed by the Company on the CNINFO website (www.cninfo.com.cn) on April 26, 2025.
II. Progress of Guarantee
On December 15, 2025, the Company held the 5th meeting of the Sixth Board of Directors and deliberated and approved the "Proposal on the Acquisition of 100% Equity of a Power Station by the Company's Wholly-Owned Subsidiary." The Company's wholly-owned subsidiary, Jiahua (Shanghai) Photovoltaic Power Co., Ltd. (hereinafter referred to as "Shanghai Jiahua"), acquired 100% equity of Baixian Lufeng New Energy Technology Co., Ltd. (hereinafter referred to as "Baixian Lufeng" or "the Target Company"). For details, please refer to the "Announcement on the Acquisition of 100% Equity of a Power Station by the Company's Wholly-Owned Subsidiary" (Announcement No.: 2025-052) disclosed by the Company on the CNINFO website (www.cninfo.com.cn) on December 16, 2025.
Baixian Lufeng has now completed the industrial and commercial registration procedures for the change of equity, becoming a wholly-owned subsidiary of Shanghai Jiahua and included in the consolidated financial statements of the Company. Given that the "Financing Lease Contract" (Guo Jin Ling [2023] Lease No. (B-123) and Guo Jin Ling [2023] Lease No. (B-124)) signed by Baixian Lufeng and Guoyin Financial Leasing Co., Ltd. (hereinafter referred to as "Guoyin Financial Leasing") has not yet been fully performed, Shanghai Jiahua, after completing the acquisition, signed a guarantee contract to continue to perform the relevant obligations of the financing lease agreement according to the needs of all parties. As of the disclosure date of this announcement, the remaining principal of the financing lease agreement is RMB 344,203,494.26 (related lease interest will fluctuate with the annual LPR).
According to the negotiations between all parties, the aforementioned financing business will be secured by the pledge of 100% equity of Baixian Lufeng held by Shanghai Jiahua, and Jiahua New Energy will provide a joint liability guarantee.
Shanghai Jiahua, the Company's wholly-owned subsidiary, has completed the internal approval procedures for this equity pledge guarantee.
The guarantee amount provided by the Company is within the approved estimated guarantee limit. The guarantee matter does not require further submission to the Company's Board of Directors or Shareholders' Meeting for deliberation.
III. Basic Information of the Guaranteed Party