Fangzheng Electric: Wholly-owned subsidiary applies for a credit line of 215 million yuan for project construction.

Fangzheng Electric announced that its wholly-owned subsidiary Fangde Intelligent Drive and Electric Technology Co., Ltd. has applied for a credit line of 215 million yuan from the Shanghai Jiading Branch of China Construction Bank, to be used for the construction of the Fangzheng Electric Shanghai Research and Manufacturing Headquarters project in the Huan Tongji area of Anting Town, Block 21-02B. The company will provide a maximum guarantee of 215 million yuan. Previously, the company had passed relevant resolutions to apply for a maximum comprehensive credit line of 2.8 billion yuan in 2025, a maximum comprehensive asset pool credit line of 1.8 billion yuan, with a proposed guarantee amount not exceeding 2.6 billion yuan, and a validity period of 12 months. This application is within the authorized scope and does not require further deliberation, with the credit line secured by the relevant land and construction projects on the site.