Overview of Guarantees - The company has signed a guarantee contract with Bank of Communications for a maximum principal amount of RMB 440 million, effective from December 1, 2025, to December 1, 2030 [1] - The company has also signed a maximum guarantee contract with Agricultural Bank of China for a maximum principal amount of RMB 675 million, effective from December 10, 2025, to December 9, 2028 [1] - The company applied for a letter of guarantee from Standard Chartered Bank for USD 100,000 (approximately RMB 716,200), with an initial validity until April 10, 2026, which has been extended to May 15, 2026 [2] Internal Decision-Making Process - The company’s board of directors approved the guarantee proposals on April 24, 2025, and the annual shareholders' meeting on May 16, 2025, allowing for a total guarantee amount of up to RMB 974.85 million, with RMB 450 million specifically for the subsidiary [2] Financial Health of the Guaranteed Entity - The subsidiary, Aux Smart Technology, has a debt-to-asset ratio of 68.93% as of the end of 2024, indicating a significant level of leverage [2] Details of Guarantee Agreements - The guarantee to Bank of Communications covers all principal debts and associated costs, with a maximum guarantee amount of RMB 440 million [4][5] - The guarantee to Agricultural Bank of China also includes all principal debts and associated costs, with a maximum guarantee amount of RMB 675 million [7][8] Necessity and Reasonableness of Guarantees - The guarantees are deemed necessary to meet the funding needs of the subsidiary and ensure its stable operations, with the company maintaining control over the subsidiary's financial health [9] Board of Directors' Opinion - The board believes that providing guarantees to the subsidiary is based on actual operational needs and that the associated risks are manageable [10] Cumulative Guarantee Amounts - As of the announcement date, the total amount of guarantees provided by the company to its subsidiaries is RMB 975.35 million, which represents 80.73% of the company's net assets attributable to shareholders for the year 2024 [10]

Core Viewpoint - The company has provided a guarantee for its wholly-owned subsidiary, Geiger New Energy (Hangzhou) Co., Ltd., with a maximum amount of 10 million yuan to support its operational needs [2][9]. Group 1: Guarantee Overview - The guarantee is provided to Ningbo Bank for various financial services to Geiger, with a maximum liability of 10 million yuan and no other guarantees involved [2][5]. - The company has authorized a total guarantee amount of up to 550 million yuan for its subsidiaries in 2025, with specific limits based on their debt-to-asset ratios [3][4]. Group 2: Guarantee Details - The guarantee includes principal, interest, overdue interest, compound interest, penalty interest, default fines, and compensation costs related to the debt [7]. - The guarantee period is set for two years from the date of debt fulfillment [8]. Group 3: Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary for Geiger's daily operations and is expected to support its stable operation and long-term development [9]. - The company maintains good control over Geiger's credit status, indicating that the risks associated with this guarantee are manageable and do not harm the interests of the company and its shareholders [10]. Group 4: Current Guarantee Status - As of the announcement date, the total amount of guarantees provided by the company to its subsidiaries is 240 million yuan, which represents 14.27% of the latest audited net assets attributable to shareholders [11].