6-K
Planet Image International Ltd (YIBO)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2025
Commission File Number: 001-41928
Planet Image International Limited
No. 756 Guangfu Road
Hi-tech Development Zone
Xinyu City, Jiangxi Province
People’s Republic of China
+86 0790-7138216
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
Execution of Letters of Guarantee
In connection with the proposed entry into loan agreements with each of Industrial and Commercial Bank of China and Bank of China (collectively, the “Banks”) by Jiangxi Yibo E-Tech Co., Ltd. (“Jiangxi Yibo”), an indirect wholly-owned subsidiary of Planet Image International Limited, a Cayman Islands exempted company (the “Company”), for an aggregate amount of RMB250 million (or approximately US$34.87 million), the Company executed a letter of guarantee in favor of each Bank, providing a joint liability guarantee for the obligations of Jiangxi Yibo under each loan until such time as Jiangxi Yibo pays off 100% of the principal and interests under each loan (collectively, the “Letters of Guarantee”).
The foregoing description of the Letters of Guarantee is qualified in its entirety by reference to the full text of the Letters of Guarantee, copies of which are filed as Exhibit 1.1 and Exhibit 1.2 to this Current Report on Form 6-K and incorporated herein by reference.
Exhibit Index
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Planet Image International Limited | ||
|---|---|---|
| Date: March 12, 2025 | By: | /s/ Shaofang Weng |
| Name: | Shaofang Weng | |
| Title: | Chief Executive Officer |
2
Exhibit 1.1
Loan Guarantee Commitment Letter
Industrial and Commercial Bank of China Limited, Xinyu High-Tech Sub-branch:
This company, PLANET IMAGE INTERNATIONAL LIMITED, with identification number: [Insert Identification Number], hereby agrees to provide joint liability guarantee for the loans and bank acceptance drafts of the borrower, Jiangxi Yibo E-Tech Co., Ltd., at your bank, from January 8, 2025, to January 7, 2028 (including the start and end dates of this period), within the maximum balance of RMB 100,000,000.00 (in words: One Hundred Million Yuan Only) (in case of any discrepancy between the amount in words and figures, the amount in words shall prevail). This guarantee shall remain in effect until the full repayment of all loan principals and interests.
| Hereby committed! |
|---|
| /s/ Weidong Gu |
| Name: Weidong Gu |
| Title: Chairman of the Board of Directors |
| Planet Image International Limited |
| Date: February 24, 2025 |
Exhibit 1.2
Loan Guarantee Commitment Letter
Bank of China Limited, Xinyu Branch:
This company, PLANET IMAGE INTERNATIONAL LIMITED, with identification number: OI-354021, hereby agrees to provide a joint liability guarantee for the loans and bank acceptance drafts of the borrower, Jiangxi Yibo E-Tech Co., Ltd., at your bank, from March 1, 2025, to February 28, 2028 (including the start and end dates of this period), within the maximum balance of RMB 150,000,000.00 (in words: One Hundred and Fifty Million Yuan Only) (in case of any discrepancy between the amount in words and figures, the amount in words shall prevail). This guarantee shall remain in effect until the full repayment of all loan principals and interests.
Hereby committed!
Commitment Maker:
PLANET IMAGE INTERNATIONAL LIMITED
Date: March 11, 2025