EX-99.1 6 exhibit99-1.htm EXHIBIT 99.1

Exhibit 99.1

Summary of Guaranty Contract of Maximum Amount (the “Contract”) Entered into by and between Shenzhen BAK Battery Co., Ltd. (the “Guarantor”) and Tianjin Branch, Bank of Dalian (the “Creditor”) on November 16, 2012

Main contents:

- Guaranty Contract number: DLQ Jin201211210012;

- Shenzhen BAK Battery Co., Ltd. undertakes to assume joint and several liabilities for BAK International (Tianjin) Limited (the “Obligor”)’s indebtedness towards Bank of Dalian from November 21, 2012 to November 20, 2013, and the maximum amount secured is RMB 73.6 million.

- Guaranty Responsibility: The guaranty under this Contract shall be guaranty with joint and several liabilities. The guarantor is obligated to pay off the debt in the event the obligor is unable to pay off the debt (including the creditor declares the debt becomes mature in advance to its original expiry date due to default of the obligor or the guarantor).

- Scope of Guaranty: The guaranty shall cover all of the loan principal, interest, penalty interest, breach of contract compensation, damages, undertaking fee and all the expenses such as litigation cost, lawyer’s fee, notification cost and public notice cost etc. which is incurred to the Creditor in realizing its creditor’s right.

- Guaranty period: The guaranty period is from the effective date of this Contract to two years after the expiry of the term of the loan agreement entered into under the Contract.

Headlines of the articles omitted:

- Payment on demand

- Declaration and guaranty

- Remedies for breach of contract

- Right reserved

- Modification, amendment and termination of the Contract

- Disputation settlement

- Attachment

- Other agreements

- Validity