VGT (02476.HK): Third-Level Wholly-Owned Subsidiaries Sign Maximum Guarantee Agreements, Providing Mutual Guarantees of RMB 30 Million within Annual Guarantee Limit
NewTimeSpace News: On 2 September 2026, Victory Giant Technology (HuiZhou) Co., Ltd. (stock code: 02476.HK) published an overseas regulatory announcement under Rule 13.10B of the Listing Rules, setting out for reference its A-share announcement No. 2026-071, "Announcement on the Progress of Guarantees Provided between Third-Level Wholly-Owned Subsidiaries," published on the Shenzhen Stock Exchange website and cninfo.com.cn.
According to the A-share announcement, Hunan MFS Technology (PCB) Co., Ltd. and Hunan MFS Technology (Hunan) Co., Ltd., the company's third-level wholly-owned subsidiaries, recently entered into maximum guarantee agreements with China CITIC Bank Corporation Limited Changsha Branch, providing joint and several liability guarantees for each other's borrowings from the bank: MFS Technology (PCB) Co., Ltd. agreed to provide a guarantee of RMB 20 million for MFS Technology (Hunan) Co., Ltd., and MFS Technology (Hunan) Co., Ltd. agreed to provide a guarantee of RMB 10 million for MFS Technology (PCB) Co., Ltd.
Both subsidiaries are third-level wholly-owned subsidiaries of the company, which holds 100% of MFS Technology (S) Pte Ltd through PoleStar Limited, and MFS Technology (S) Pte Ltd in turn holds 100% of each of the two Hunan subsidiaries. Under the proposal on the estimated guarantee quota for 2026, approved by the company's 12th meeting of the fifth board of directors on 12 January 2026 and its first extraordinary general meeting of shareholders for 2026 on 28 January 2026, the company agreed to provide guarantees for the financing of certain wholly-owned subsidiaries within its consolidation scope up to an aggregate quota of no more than RMB 2,634.45 million, with the quota available for revolving use within its validity period; as the guarantee amounts fall within the annual estimated quota, no further approval from the board or shareholders is required.
Financial information shows that as of 30 June 2026, Hunan MFS Technology (Hunan) Co., Ltd. (flexible printed circuit business) had total assets of RMB 1,140.9551 million, revenue of RMB 740.8551 million and net profit of RMB 53.1438 million, while Hunan MFS Technology (PCB) Co., Ltd. (printed circuit board business) had total assets of RMB 772.9220 million, revenue of RMB 361.7121 million and net profit of RMB 43.9522 million. As of the date of the announcement, the company and its controlled subsidiaries had an aggregate outstanding guarantee balance of RMB 2,244.3084 million, of which RMB 1,111.9504 million represented mutual guarantees between subsidiaries, equivalent to 13.51% of the company's audited net assets as of 31 December 2025; the company and its controlled subsidiaries have not provided guarantees to entities outside the consolidation scope, nor do they have any overdue guarantees or guarantees involved in litigation.
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