Core Viewpoint - The company, Ningbo Hongxun Technology Co., Ltd., plans to apply for a credit limit of RMB 90 million from China Trust Bank Shanghai Branch, with RMB 60 million designated for issuing standby letters of credit to support its wholly-owned subsidiary, Taiwan Hongxun, for operational working capital needs [1][4]. Group 1: Credit Application Details - The company intends to use credit and time deposits as collateral for the credit application, with RMB 30 million of the standby letter of credit being secured by time deposits and the remaining RMB 30 million secured by the company's credit [1][6]. - The standby letters of credit can be issued within a 12-month period from the date of issuance and can be rolled over within the total limit of RMB 60 million [1][6]. Group 2: Financial Guarantees - As of the announcement date, the company has provided a guarantee amounting to RMB 30 million for Taiwan Hongxun, with an actual guarantee balance of RMB 7.7687 million [1][4]. - There are no other subsidiaries providing guarantees for Taiwan Hongxun, and there are no overdue guarantees [4][6]. Group 3: Financial Performance - As of December 31, 2024, the total assets of Taiwan Hongxun were approximately RMB 821.88 million, with total liabilities of about RMB 354.40 million, resulting in net assets of approximately RMB 467.48 million [3]. - For the first quarter of 2025, the company reported total assets of approximately RMB 857.72 million, total liabilities of about RMB 391.90 million, and net assets of approximately RMB 465.82 million [3]. Group 4: Company Overview - Taiwan Hongxun is a wholly-owned subsidiary of the company, with a registered capital of 1.15 billion New Taiwan Dollars and operates in the electronic components manufacturing industry [5]. - The company holds 100% of Taiwan Hongxun's shares, allowing it to effectively control operational risks and decision-making [6].