March 29, 2024

Xinhaiyi provides 13.21 million US dollars guarantee for Xinnajing, a wholly-owned subsidiary

Xinhaiyi held the second meeting of the fifth board of directors on July 1, 2013. The meeting reviewed and approved the “Proposal on Providing Guarantee for the Holding Subsidiary Suzhou Xinnajing Optoelectronics Co., Ltd.” and agreed that the company is the holding subsidiary Suzhou Xinna. Jingguang Optoelectronics Co., Ltd. (hereinafter referred to as “Xinnajing”) applied to the Bank of Ningbo Branch in Suzhou for a letter of credit of RMB 321.18 million and a US dollar loan to provide joint and several liability guarantees for the purchase of production equipment.

Xin Najing's business scope includes: LED epitaxial wafers, chip production and sales; installation, free house leasing; production of raw and auxiliary materials, instrumentation, machinery and equipment, spare parts and technology import business, the company's own products And technology export business.

Xin Najing is a subsidiary of Xinhaiyi Holding Co., Ltd., Xinhaiyi holds 90% of its equity, Suzhou Industrial Park Herunjia Technology Co., Ltd. holds 4.05% of the shares, Suzhou Nafang Technology Development Co., Ltd. holds 2.7% of equity, Zhongxin Suzhou Industrial Park Venture Capital Co., Ltd. holds 2.5% of the shares, and Suzhou Industrial Park Rongfeng Investment Management Co., Ltd. holds 0.75% of the shares.

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