E-Commodities provides new counter-guarantees for Xianghui Energy

E-Commodities Holdings entered into three new counter-guarantee contracts with Xiangyu Joint Stock on September 8, 2025. These agreements involve the company providing counter-guarantees for Xianghui Energy, an indirect non-wholly owned subsidiary in which it holds a 49% equity interest. The first counter-guarantee is for up to RMB26.95m, the second for up to RMB107.8m, and the third for up to RMB32.34m, all linked to banking facilities for Xianghui Energy.

Aggregated with previous counter-guarantee contracts, these transactions constitute discloseable and connected transactions under Listing Rules, as Xiangyu Joint Stock is a substantial shareholder of two of the company's indirect non-wholly owned subsidiaries. The board has approved these transactions, confirming they are fair, reasonable, and on normal commercial terms, serving the interests of the company and its shareholders.

Under Counter-Guarantee Contract II, the October 2024 Counter-Guarantee Contract for up to RMB107.8m has been terminated and superseded, ceasing the company's obligations under the earlier agreement. These new counter-guarantees aim to provide sufficient working capital for Xianghui Energy and its subsidiaries to support the expansion of Mongolian coal trading businesses.