Nanjing Iron & Steel guarantees KinRui New Energy

Nanjing Iron & Steel (SSE:600282) announced it will provide a guarantee of up to RMB 15.2 million for PT. KinRui New Energy Technologies Indonesia, its holding subsidiary, to support its financing activities with China CITIC Bank. The guarantee was approved at board and shareholder meetings and falls within the previously approved 2025 guarantee limit. As of the announcement date, Nanjing Iron & Steel's total external guarantees stand at RMB 9.2 billion, with RMB 6.128 billion provided to its subsidiaries. Investors are cautioned that KinRui New Energy's asset-to-liability ratio exceeds 70%.