Zhejiang dongwang times technology (600052.SH) announced on November 6 that the company previously provided guarantees for the debt of Guangsha Holdings at the Shanghai branch of Xiamen International Bank, which is now changed to Dongyang Jintou as the creditor. Currently, the outstanding principal balance of the guaranteed debt is approximately 0.132 billion yuan.

Based on the overall arrangement of resolving guarantees, the company plans to sign a "Guarantee and Settlement Agreement" with Dongyang Jintou to compensate Guangsha Holdings for part of its debt to Dongyang Jintou, amounting to 76 million yuan (including 70 million yuan of debt principal and 6 million yuan of debt interest). After the relevant payments are completed, Dongyang Jintou plans to release the company from the remaining debt (i.e., remaining principal, interest, overdue interest, etc.) in the aforementioned guarantee matters, as well as lift the pledge of the involved collateral, which includes 13,199,300 shares of China Zheshang Bank stocks and their rights (including dividends, derivative rights, and other benefits).

This transaction is based on the current overall demand for the company's guarantee resolution plan, which is beneficial for reducing the amount and proportion of overdue and litigated guarantees, as well as helping to lower the current asset pledge ratio of the company.