Nanjing Iron & Steel guarantees KinRui New Energy expansion
Nanjing Iron & Steel (SSE:600282) announced that it has provided additional guarantees for its subsidiary, PT. KinRui New Energy Technologies Indonesia. The guarantee, amounting to CNY 72.88 million, is part of the overall approved guarantee line of up to USD 8 million approved by the company's board and shareholders for 2025. The funds will be used to secure KinRui New Energy’s credit facilities with China Minsheng Bank. Following this transaction, Nanjing Iron & Steel's total guarantees to its subsidiaries have increased to CNY 655.4 million, representing 25.18% of the company’s latest audited net assets. The announcement also notes KinRui New Energy's asset-liability ratio exceeds 70%, advising investors to note the associated risks. The company states that it has no outstanding overdue guarantees and has not provided guarantees to its controlling shareholders or related parties.
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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