Superstar Technology plans to provide $6 million in trade financing guarantees for its wholly-owned subsidiary.
On September 23, 2025, the 18th meeting of the sixth board of directors of Hangzhou Jupiter Technology Co., Ltd. approved the proposal to provide a guarantee for Prime-Line Products, LLC., a wholly-owned subsidiary, to apply for a $6 million trade financing credit line from Citibank, with a guarantee period not exceeding 12 months. The proposal still needs to be approved by the shareholders' meeting.
PLP was established in 1978 and is mainly engaged in the hardware for doors and windows. The latest financial statement shows that its debt-to-asset ratio is over 70% in the past year. As of the end of August, the total amount of external guarantees by the company and its subsidiaries was 270.30 million yuan, accounting for 1.65% of the latest audited net assets attributable to the shareholders of the listed company, with no overdue guarantees.
The board of directors believes that the guarantee risk of this transaction is controllable and beneficial for the development of the subsidiary's business.
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