Wolong Electric Drive provides a 40 million Euros guarantee for its subsidiary, with the overall risk under control.
On September 16, 2025, Wolong Electric Drive Group Co., Ltd. signed a "Letter of Guarantee" with the Asia Branch and Shangyu Branch of China Construction Bank, providing guarantees for the financing business of its wholly-owned subsidiary Hong Kong Wolong in the Asia Branch and Shangyu Branch of China Construction Bank, with a total amount not exceeding 40 million Euros, and a term until September 19, 2028. As of September 19, the actual guarantee balance provided for it has reached 866,986.5 million RMB. Hong Kong Wolong has an asset-liability ratio exceeding 80%, but the company believes it has the ability to repay debts, and the guarantee risk is under control. This guarantee is to meet the operating fund needs of the subsidiary and is in line with the overall interests of the company. As of September 19, the company and its subsidiaries have provided guarantees to external parties totaling 1,208,013.5 million RMB, accounting for 12.04% of the audited net assets attributable to the parent company in 2024, with no overdue or irregular guarantees.
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