UTIMES(SH:688638) Sou Hu Cai Jing·2025-11-24 23:16Core Viewpoint - The company has approved a proposal to apply for a merger loan and pledge equity of its subsidiary, Shenzhen Jiayang Battery Co., Ltd., to enhance capital efficiency and support its long-term development plan [1][9][14]. Summary by Sections Overview of the Situation - On September 25, 2024, the company approved the cash acquisition of 60% equity in Shenzhen Jiayang Battery Co., Ltd. for a total of RMB 14,825 million [1]. - The acquisition involved purchasing 593,000 RMB (59.3% equity) from Zhang Hua and 7,000 RMB (0.7% equity) from Hou Xianlu [1]. Loan Application Details - On November 24, 2025, the company’s board approved a proposal to apply for a merger loan of RMB 90 million from China Bank, pledging 60% equity in Jiayang Battery as collateral [2][14]. - The loan is intended to finance the acquisition of Jiayang Battery or to replace previously paid acquisition costs [2][14]. - The loan amount is within the approved financing limit of RMB 150 million for the year [3]. Basic Information of the Pledged Company - Company Name: Shenzhen Jiayang Battery Co., Ltd. - Unified Social Credit Code: 914403007917238374 - Registered Capital: RMB 10 million - Type: Other joint-stock company (non-listed) [3][4]. Loan Terms - Loan Amount: RMB 90 million [5]. - Loan Term: 84 months [6]. - Interest Rate: Floating rate [6]. - Guarantee Method: Pledge of 60% equity in Jiayang Battery [7]. Impact on the Company - The merger loan application is based on the company's current operational and cash flow conditions, aimed at improving capital efficiency [9][14]. - The company is in good operational condition and has a strong debt repayment capability, indicating that the loan will not pose significant financial risks [9][14].