Baosteel union unit gets $42m guarantee for 2025

Inner Mongolia BaoTou Steel Union (SSE:600010) has announced it will provide a guarantee not exceeding RMB 30 million (about $4.2 million USD) to Baogang Steel Industry, a subsidiary. This decision, aimed at supporting the subsidiary's production, operations, and capital needs, was approved by the board. The guarantee aligns with Baosteel Union's broader goal of promoting stable development across its holdings. As a result, Baogang Steel Industry will offer a counter guarantee using asset collateral. Further, the decision is pending shareholder approval and will be valid until a new guarantee amount is approved at the next annual meeting. As of the announcement date, the outstanding guarantee balance for Baogang Steel Industry is zero.