I. Overview of Credit and Guarantee Situation
Guangzhou Hangxin Aviation Technology Co., Ltd. (hereinafter referred to as the "Company" or "Hangxin Technology") held the 16th meeting of the 6th Board of Directors on April 27, 2026, and the 2025 Annual General Meeting on May 20, 2026, where the "Proposal on Predicting the Application for Comprehensive Credit Lines and Guarantee Quotas from Financial Institutions for 2026" (hereinafter referred to as the "2026 Credit and Guarantee Proposal") was deliberated and approved. To meet the Company's production, operation, and business development needs, the Company and its subsidiaries within the scope of the consolidated financial statements are authorized to apply for comprehensive credit lines not exceeding RMB 2,000 million from banks, financial leasing companies, and other financial institutions.
Simultaneously, the Company expects to provide guarantees for subsidiaries within the scope of the consolidated financial statements when they apply for financing and daily operational needs (including but not limited to performance guarantees) in 2026, with an estimated guarantee quota not exceeding RMB 420 million. Of this, the guarantee quota for subsidiaries with an asset-liability ratio of 70% or higher shall not exceed RMB 50 million, and the guarantee quota for subsidiaries with an asset-liability ratio below 70% shall not exceed RMB 370 million. This guarantee quota represents new guarantees for 2026. The validity period of the aforementioned credit and guarantee quotas is 12 months from the date of approval by the General Meeting, and the quotas may be used on a revolving basis within the authorization period. Within these limits, the Company will not submit each guarantee matter to the Board of Directors or the General Meeting for separate deliberation. Provided that the total approved guarantee quota is not exceeded, the Company's management may appropriately adjust the guarantee quotas for subsidiaries within the scope of the consolidated financial statements (including new subsidiaries established or included in the scope of consolidation within the authorization period) based on actual operating conditions, with the actual guarantee amount subject to the final signed guarantee contracts.
For specific details, please refer to the "Announcement on Predicting the Application for Comprehensive Credit Lines and Guarantee Quotas from Financial Institutions for 2026" (2026-129) disclosed by the Company on Juchao Information Network (http://www.cninfo.com.cn) on April 28, 2026.
II. Progress of This Matter
The Company's holding subsidiary, Tianhong Aviation Technology Co., Ltd. (hereinafter referred to as "Tianhong Aviation"), applied for a comprehensive credit line of RMB 10 million from the Tianjin Branch of Industrial Bank Co., Ltd. (hereinafter referred to as "Industrial Bank"), with a credit validity period of 1 year; and applied for a comprehensive credit line of RMB 10 million from the Rongcheng Sub-branch of Bank of Tianjin Co., Ltd. (hereinafter referred to as "Bank of Tianjin"), with a credit validity period of 12 months. The Company provides joint liability guarantees for the aforementioned financing matters of Tianhong Aviation and has recently signed a "Maximum Guarantee Contract" with Industrial Bank and a "Guarantee Contract" with Bank of Tianjin.