Goldwind seeks shareholder approval for South Africa guarantees

Xinjiang Goldwind Science and Technology is seeking shareholder approval for a resolution to provide guarantees and issue letters of guarantee on behalf of its majority-owned subsidiaries in South Africa. The guarantees, to be provided jointly by Goldwind and its wholly-owned subsidiary Goldwind International Holdings, are capped at RMB8 billion. The amount will be used to provide full guarantees for the subsidiaries and Goldwind or Goldwind International will apply for the issuance of the letters of guarantee to the banks on its behalf, of which the guarantee amount shall not exceed RMB8 billion and the amount of the letters of guarantee shall not exceed RMB3 billion. The guarantees will support wind power design, procurement, and construction contracts, wind turbine supply agreements, and service contracts. The validity period for the guarantees and letters of guarantee is one year from the date of the EGM's resolution. As of May 31, 2025, Goldwind New Energy South Africa, one of the beneficiaries, had total assets of RMB1,863,165,436.94 and a gearing ratio of 113.38%.