Weihai Honglin Electric Technology Co., Ltd. announced that its controlling shareholder, Weihai Mingbo Cable Technology Co., Ltd., recently obtained a new loan commitment letter from the Weihai branch of Industrial Bank, providing a special loan of up to 49 million yuan for the shareholding increase plan. Combined with the 36 million yuan loan commitment obtained earlier on July 14, 2026, the two special loans total no more than 85 million yuan. The shareholding increase plan was originally set at 20 million to 40 million yuan, and was later adjusted on July 28 to 50 million to 100 million yuan. The controlling shareholder has already increased its holdings by 1,407,200 shares, raising its stake to 53.2668 percent. The company cautioned that the shareholding increase plan faces the risk of not meeting expectations due to market changes.
Weihai Honglin Electronic Co. Ltd. AControlling shareholder receives loan to fund shareholding increase, signaling financial support.
Industrial Bank Co Ltd