Tianrui Group Cement details new mutual guarantee framework

China Tianrui Group Cement Company Limited announced the 2025 Framework Agreement, effective from January 1, 2026, to December 31, 2028. This agreement involves the company providing guarantees to Tianrui Group Company (excluding aluminum-related businesses), and Tianrui Group Company providing guarantees to the company and its subsidiaries, for bank loans, debentures, or corporate bonds. Tianrui Group Company, owned 70% by Mr. Li and 30% by Mrs. Li, is the controlling shareholder and a connected person of the company.

The maximum daily balance for the company's guarantee is proposed at RMB2,500 million annually for the three years ending December 31, 2028. For the Tianrui Group Guarantee, the proposed maximum daily balance is RMB9,000 million annually for the same period. These new caps represent a decrease for the company's guarantee from RMB3,000 million under the 2022 Framework Agreement, and an increase for the Tianrui Group Guarantee from RMB7,000 million.

The company's guarantee constitutes a major transaction and a continuing connected transaction, requiring reporting, announcement, circular, and independent shareholders' approval. A Counter Guarantee Agreement has also been entered into by Mr. Li, indemnifying the company for any amounts payable under the company's guarantee.