ZMJ secures EUR250m guarantees for overseas subsidiary

Zhengzhou Coal Mining Machinery Group (SSE:601717) announced that it will provide guarantees totaling EUR250 million for SEG Automotive Germany GmbH and its subsidiaries. This guarantee enables SEG to secure new bank loans aimed at refinancing existing offshore debt and supporting working capital. The board of directors approved the measure on April 17, 2025, following authorization from the company's shareholders. Specifically, the guarantees are backing credit facilities from various banks, including China Merchants Bank and Deutsche Bank. After the previous EUR300 million guarantee is released, ZMJ's total guarantee obligations will increase by EUR250 million. As of the announcement date, the company's total guarantees stand at approximately CNY369.56 million.