China Shipbuilding subsidiary secures new guarantee facility

China Shipbuilding Industry Corporation (SSE:601989) announced that its wholly-owned subsidiary, Dalian Shipbuilding Industry Group, has provided a new guarantee facility for its own subsidiary, Dalian Shipbuilding Heavy Industry Shipbuilding Co., Ltd. The guarantee, amounting to CNY 0.3 billion, supports the issuance of bank acceptance drafts and guarantees for non-financing purposes. Dalian Shipbuilding Heavy Industry Shipbuilding has provided a counter-guarantee. As of May 31, 2025, the total outstanding guarantees provided by China Shipbuilding Industry Corporation for its subsidiaries stand at CNY 15.61 billion, representing 1.86% of the company's latest audited net assets. The company has no overdue external guarantees. The announcement confirms that the new guarantee falls within the approved limit authorized by shareholders at the 2025 First Extraordinary General Meeting.