Shanghai Gu'ao Electronic Technology Co., Ltd.
Announcement on Overdue Financial Assistance to Investee Company
The Company and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.
I. Overview of Financial Assistance Matters
(I) Basic Situation of Financial Assistance
Shanghai Gu'ao Electronic Technology Co., Ltd. (hereinafter referred to as the "Company") held the 14th meeting of the Fifth Board of Directors on October 14, 2024, and the second extraordinary general meeting of shareholders in 2024 on November 29, 2024, and deliberated and approved the "Proposal on Financial Assistance Formed by the Passive Disposal of Equity in a Subsidiary and Related Party Transactions". Donggao (Fujian) Technology Development Co., Ltd. (hereinafter referred to as "Donggao Technology") was a holding subsidiary of the Company. To support its business development, on January 1, 2024, the Company and Donggao Shengke Technology Co., Ltd. (hereinafter referred to as "Donggao Shengke") signed a "Credit Agreement" with Donggao Technology. According to the agreement, the Company and Donggao Shengke would provide Donggao Technology with financial assistance of up to RMB 27.5 million each from January 1, 2024, to June 30, 2025, to cover part of the working capital required for Donggao Technology's daily production and operation. The specific amount, time, and interest of each loan shall be subject to the "Loan Agreement" signed separately. As of now, the balance of financial assistance provided by the Company and Donggao Shengke to Donggao Technology is RMB 10 million.
At the same time, the above meetings also deliberated and approved the Company's sale of a 2% equity interest in Donggao Technology. After the completion of this equity transaction, Donggao Technology will no longer be included in the Company's consolidated financial statements. The loan provided by the Company to Donggao Technology will passively form financial assistance from the Company to Donggao Technology. This financial assistance is essentially a continuation of the loan to a subsidiary that was previously within the consolidated financial statements.
Given that Donggao Technology was subject to regulatory measures in 2024 to suspend new customer acquisition, and its business expansion was limited, in order to support Donggao Technology's operating needs, the Company held the 17th meeting of the Fifth Board of Directors on April 27, 2025, and deliberated and approved the "Proposal on Extending Financial Assistance to an Investee Company". The financial assistance provided by the Company to Donggao Technology has been extended to June 30, 2026.
The specific content of the above matters can be found in the relevant announcements disclosed by the Company on the Juchao Information Network on October 15, November 14, and November 29, 2024, and April 28, 2025.