Summary by Futu AI
Solargiga Holdings Limited ("Solargiga") announced that its indirect wholly-owned subsidiary, Jinzhou Solargiga Energy Co., Ltd., plans to sign a revolving capital loan contract with Industrial Bank Shenyang Branch on or before August 15, 2024. The loan principal is RMB 0.1 billion and the term is one year. The loan will be guaranteed by Solargiga and Mr. Tan Wenhua, the chairman and executive director of the board of directors respectively, with a maximum guarantee amount of up to RMB 0.12 billion. This reflects Industrial Bank's confidence in Solargiga's business prospects and repayment ability. The board of directors believes that this loan agreement will optimize the Group's financial structure, reduce future financing costs, and is in line with the overall interests of the shareholders. Mr. Tan Wenhua's personal guarantee is exempt from full disclosure according to Rule 14A.90 of the listing rules. After the loan contract is signed, the company will make further announcements.