GCL Energy Technology (002015): Progress In Providing Guarantees To Holding Subsidiaries

Progress announcement of GCL Energy Technology Co., Ltd. on providing guarantee for holding subsidiaries

The company and all members of the board of directors guarantee that the contents of information disclosure are true, accurate and complete, and there are no false records, misleading statements or major omissions.

1、 Overview of guarantee situation:

The 16th meeting of the 7th board of directors of GCL Energy Technology Co., Ltd. (hereinafter referred to as "the company") deliberated and passed the proposal on the amount of external guarantee in 2020. The board of directors agrees that in 2020, the company (including holding subsidiaries) will provide external guarantee for its subsidiaries when they apply for bank credit and daily business needs, with the maximum amount of guarantee of RMB 19.974 billion, including but not limited to guarantee guarantee, asset mortgage, pledge, etc.; if the subsidiary company introduces a third party organization to provide guarantee for it in the application for bank credit, the company shall (including holding subsidiaries) can provide corresponding counter guarantee for the third party. The amount of guarantee provided by the company (including holding subsidiaries) to subsidiaries within the scope of consolidated statements is 19.434 billion yuan, of which the amount of guarantee provided for subsidiaries with asset liability ratio lower than 70% is no more than 11.146 billion yuan, and that for subsidiaries with asset liability ratio higher than 70% does not exceed 8.288 billion yuan. The authorization period of this external guarantee limit is within 12 months from the date of deliberation and approval by the 2019 annual general meeting of shareholders. The board of directors proposed to the general meeting of shareholders to authorize the general manager of the company to be responsible for the specific organization, implementation and signing of relevant contracts and documents, and authorized the management of the company to appropriately adjust the guarantee amount of each subsidiary company within the scope permitted by laws and regulations according to the actual business needs.

For details, please refer to the announcement on the forecast of external guarantee amount in 2020 (Announcement No.: 2020-041) disclosed by the company on April 30, 2020

The above guarantee matters have been deliberated and approved by the 2019 annual general meeting of shareholders held on May 20, 2020.

2、 Progress of external guarantee

1. On June 16, 2020, the holding subsidiary of the company, GCL Smart Energy Co., Ltd. (hereinafter referred to as

Hereinafter referred to as "GCL smart energy") and Ningbo Jintong Financial Leasing Co., Ltd. (hereinafter referred to as "Jintong leasing") signed an enterprise guarantee letter, which agreed that GCL smart energy would apply for Tongxiang Puyuan GCL environmental protection Thermal Power Co., Ltd. (hereinafter referred to as Puyuan GCL), During the period from June 2025 to June 202025, the joint and several liability of Puxin leasing company is the guarantee for the main leasing business from RMB 220000 to June 202025. The above guarantee amount shall be within the scope approved by the general meeting of shareholders of the company. As of the disclosure date of this announcement, the actual amount of guarantee under the enterprise guarantee is RMB 70 million.

2. On July 21, 2020, the company's holding subsidiary GCL smart energy and Huadian Financial Leasing Co., Ltd. (hereinafter referred to as "Huadian leasing") signed the "guarantee contract", and the subsidiary company Suining Zhongxin new energy Co., Ltd. (hereinafter referred to as "Suining Zhongxin") and Huadian leasing signed the supplementary agreement on equity pledge contract, stipulating that GCL smart energy and Suining are in agreement Zhongxin applied for joint liability guarantee and pledge guarantee for its subsidiary Suining Guanshan Zhongxin Wind Power Generation Co., Ltd. (hereinafter referred to as "Suining wind power") for financial leasing business of no more than 285 million yuan. The main creditor's rights guaranteed are all the creditor's rights of Huadian leasing to Suining wind power based on the main contract of financial leasing from July 21, 2020 to July 20, 2032.

The above guarantee amount shall be within the scope approved by the general meeting of shareholders of the company.

As of the disclosure date of this announcement, the actual guarantee amount under the guarantee contract is RMB 0.

3、 Accumulated external guarantee quantity and overdue guarantee quantity

As of the disclosure date of this announcement, the company's external guarantee situation is as follows:

Unit: 10000 yuan

Guarantee situation

The company and its holding subsidiaries have not suffered from overdue guarantee, guarantee involving litigation and loss due to losing judgment of guarantee.

It is hereby announced.

Board of directors of GCL Energy Technology Co., Ltd

July 23, 2020