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Tungray Technologies disclosed that its subsidiary, Qingdao Tongri Electric Machines Co., Ltd., provided undisclosed…
TRSGTungray Technologies Inc
Tungray Technologies disclosed that its subsidiary, Qingdao Tongri Electric Machines Co., Ltd., provided undisclosed guarantees totaling RMB110 million to secure loans for Fudingtai Intelligent Technology Co., Ltd., a company controlled by Chairman and CEO Wanjun Yao. The Audit Committee engaged independent legal counsel on August 15, 2026, to review these arrangements after CCB initiated litigation against Fudingtai due to repayment failures. The guarantees include RMB35 million and RMB50 million obligations to China Construction Bank, a RMB10 million obligation to Weihai Bank secured by land use rights, and a RMB15 million obligation to the Industrial and Commercial Bank of China. The review is in its early stages with no conclusions reached regarding potential material adverse effects on financial condition. Tungray Technologies Inc operates in the technology sector, providing industrial internet solutions.