According to the Zhitong Finance App, GASIA Holdings (08126) announced that on June 5, 2023, the company's subsidiaries Xiamen BMW (a wholly-owned subsidiary of GAPL, and GAPL is a wholly-owned subsidiary of the company), Quanzhou Fubao (a wholly-owned subsidiary of Xiamen BMW) and Fujian Xingbao (a wholly-owned subsidiary of GAPL) entered into guarantee agreements with Fuzhou Zhongbao (a wholly-owned subsidiary of Xiamen Zhongbao). According to this, from August 1, 2023 to July 31, 2025, Xiamen BMW, Quanzhou Fubao and Fujian Xing Bao have conditions I agree to Fuzhou Zhongbaoyu The maximum amount of bank financing that has been or may be generated in the course of its daily business is guaranteed by RMB 39.6 million.

After considering the business model formed by the Group as early as 2002, the board of directors believes that providing financing guarantees under the guarantee agreement will help secure the Group's technical service fee revenue and other sources of business revenue for the Zhongbao Group.