GCL-Poly Energy Holdings: Progress on Providing Guarantees for Subsidiaries
On April 18, 2025, GCL-Poly Energy Holdings announced that it had signed a Maximum Guarantee Agreement with the Hefei branch of Bohai Bank Co., Ltd. This agreement provides an irrevocable joint liability guarantee for all debts incurred under a Domestic Letter of Credit Agreement signed by its subsidiary, Hefei GCL-Poly Integrated New Energy Technology Co., Ltd., for an amount not exceeding 200 million yuan.
Additionally, the company has entered into a Guarantee Contract with Chongqing Xianyu Financial Leasing Co., Ltd. This contract offers a joint liability guarantee for the principal amount of 14.8215 million yuan related to the Financial Lease Agreement signed by its subsidiary, Wuhu GCL-Poly Integrated New Energy Technology Co., Ltd.
These guarantees fall within the approved estimated guarantee limit; therefore, the company is not required to undertake further review procedures. As of the date of this announcement, the total guarantee amount provided by the company for its controlling subsidiaries and mutual guarantees among subsidiaries is 9.49 billion yuan. Following these new guarantees, the total external guarantee balance for the company and its controlling subsidiaries is 4.233 billion yuan, which represents 174.61% of the company’s most recently audited net assets.
Furthermore, the company and its subsidiaries have not provided guarantees to any entities outside of the consolidated financial statements. There are no overdue external guarantees, nor are there any external guarantees involved in litigation or resulting in losses due to adverse judgments.
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