1. Overview of Guarantees
Jiu Sheng Electric Co., Ltd. (hereinafter referred to as "the Company" or "Jiu Sheng Electric") held its fourth meeting of the sixth board of directors on April 25, 2025, and the 2024 annual shareholders' meeting on May 21, 2025. The shareholders' meeting approved the proposal regarding the estimated guarantee limit for subsidiaries in 2025, agreeing to provide a total financing guarantee limit not exceeding RMB 200 million for its subsidiaries. The validity period for the above guarantee limit is from the date of approval by the 2024 annual shareholders' meeting until the date of the 2025 annual shareholders' meeting, and this limit can be reused within the specified period. The shareholders' meeting authorized the chairman and relevant authorized personnel to handle specific matters within the guarantee limit based on actual operational needs.
2. Progress of Guarantees
Recently, the Company signed guarantee contracts with Zhejiang Lanxi Rural Commercial Bank Co., Ltd. under contract numbers 9021320260001037 and 9021320260001038, agreeing to provide guarantees for the bank acceptance bill acceptance agreements signed by its subsidiary, Zhejiang Jiu Sheng Cross-linked Cable Co., Ltd., with the bank. The guarantee amounts are RMB 4,250,000.00 and RMB 5,750,000.00, respectively, with the guarantee method being joint liability guarantee. The above guarantee matters are within the limit approved by the shareholders' meeting and have completed internal approval procedures.