Tianfu Energy guarantees Tianfu Group loan

Xinjiang Tianfu Energy (SSE:600509) announced it will guarantee up to 120 million RMB (approximately $16.7 million USD) for Tianfu Group's working capital loan from Xinjiang Bank. The decision was approved during the company's eighth board meeting and shareholders meeting. As of the announcement date, Tianfu Energy's total outstanding guarantees stand at 685.2 million RMB, with 616 million RMB guaranteed for Tianfu Group and its affiliates. Tianfu Group will provide a counter-guarantee to Tianfu Energy. Tianfu Group's total assets as of September 30, 2024, were approximately 8.46 billion RMB, with total liabilities of 6.25 billion RMB.