Summary by Moomoo AI
Solargiga Holdings Limited ("Solargiga") announced that its indirect wholly-owned subsidiary, Jinzhou Solargiga Energy Co., Ltd. intends to sign a working capital loan agreement with Industrial Bank Shenyang Branch on or before August 15, 2024, with a loan principal of RMB 0.1 billion and a term of one year. The loan will be guaranteed by Solargiga and Mr. Tan Wenhua, the chairman of its board of directors and executive director, 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 capability. The board of directors believes that this loan agreement will be beneficial to optimizing the group's financial structure and reducing future financing costs, in line with the overall interests of shareholders. Mr. Tan Wenhua's personal guarantee is fully exempt from reporting according to Rule 14A.90 of the Listing Rules. The company will make further announcements after the signing of the loan agreement.