Shannon Semiconductor Technology Co., Ltd. Announcement on Acceptance of Credit Enhancement Measures from Related Parties and Related Transactions
The company and all members of the board guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
On April 3, 2025, the company held the tenth meeting of the fifth board of directors and the ninth meeting of the fifth supervisory board, where it approved the proposal on accepting credit enhancement measures from related parties. The company agreed to accept credit enhancement measures from related parties Mr. Huang Zewei, Ms. Peng Hong, and their related parties, providing up to RMB 23 billion (or equivalent foreign currency) for the company and its consolidated subsidiaries. The duration is twelve months from the date of approval of this proposal. The credit enhancement measures include but are not limited to guarantees and counter-guarantees. The company and its subsidiaries are not required to pay any fees for these credit enhancement measures or provide counter-guarantees. The sponsor institution has issued a verification opinion. For details, please refer to the announcement disclosed by the company on April 8, 2025, in the Securities Times, Securities Daily, China Securities Journal, Shanghai Securities Journal, and the Giant Tide Information Network (Announcement No. 2025-025), as well as the verification opinion from Huashan Securities Co., Ltd. regarding the company's acceptance of credit enhancement measures from related parties.
As the previous approval period was nearing its end, on March 20, 2026, the company held the seventeenth (temporary) meeting of the fifth board of directors, where it approved the proposal on accepting credit enhancement measures from related parties. The company agreed to accept credit enhancement measures from Mr. Huang Zewei, Ms. Peng Hong, and their related parties, providing up to RMB 30 billion (or equivalent foreign currency) for the company and its consolidated subsidiaries, with a duration of twelve months from the date of approval of this proposal, subject to the signed documents. Following the approval of this proposal regarding the acceptance of credit enhancement measures, the previous approval for accepting up to RMB 23 billion (or equivalent foreign currency) from Mr. Huang Zewei, Ms. Peng Hong, and their related parties is terminated early.
The specific content is announced as follows: