Zhong Fu Tong Group announced that the company plans to provide joint and several guarantees for its subsidiaries to apply for a cumulative credit amount of no more than 620 million yuan from banks and other financial institutions. The guaranteed companies include Yitian Technology, Zhongjun Communication, Pingyuan Technology, Tianchuang Information, Yingboda and other wholly-owned and holding subsidiaries. The board of directors believes that this move is beneficial to the subsidiaries to raise the necessary funds for production and operation, reduce financing costs, and is in line with the overall interests of the company. As of the announcement date, the cumulative external guarantee balance of the company and its holding subsidiaries was 179,1887 yuan, accounting for 16.64% of the audited net assets of the company's most recent period.