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Anyang Iron & Steel backs subsidiaries with guarantees

February 26, 2025 at 12:56 PM UTCBy FilingReader AI

Anyang Iron & Steel Group [SSE:600569] announced the approval of guarantees for its subsidiaries at the second interim board meeting of 2025. The board approved a guarantee for its controlling subsidiary, Henan Anyang Southern Electromagnetic New Material Technology Co., Ltd., for financing through a direct lease with Chongqing XinYu Financial Leasing Co., Ltd. The lease covers equipment for the second phase of an electromagnetic new materials project, with a financing amount not exceeding RMB 200 million for a term of up to five years. A separate guarantee was also approved for Henan Anyang Zhoukou Iron & Steel Co., Ltd., for working capital loans up to RMB 500 million from the Industrial and Commercial Bank of China Zhoukou branch, with a term of no more than one year. Both guarantees are subject to shareholder approval.  The company has also revised the "Anyang Iron & Steel Group Co., Ltd. Board of Directors' Management Method for Authorization to the Management".

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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