Keda Clean Energy boosts Tilemaster financing with significant guarantee

Keda Clean Energy Co., Ltd. has provided a guarantee of CNY 350,000,000 for its controlled subsidiary, Tilemaster Investment Limited, as part of a total outstanding guarantee of CNY 2,546,690,300. This guarantee is for financing from Shanghai Pudong Development Bank Co., Ltd., Foshan Branch, and is valid until August 26, 2028, or three years after the debt maturity. The total external guarantee amount, including this new guarantee, now stands at CNY 11,302,000,000, representing 98.46% of the company's 2024 audited net assets.

The decision was made during the Ninth Board of Directors' Eleventh Meeting and the 2025 Second Extraordinary General Meeting held on August 26, 2025. Shareholders approved a total guarantee limit of CNY 11,300,000,000 for subsidiaries, with CNY 5,500,000,000 allocated to Tilemaster. Tilemaster, an overseas building materials platform, experienced a net loss of CNY 118,886,900 for the first half of 2025 due to financial expenses.

To mitigate risk, a counter-guarantee is in place, with Sunda Group Co., Ltd. pledging equity in Guangdong Tefu International Holdings Co., Ltd. to Keda Clean Energy. No overdue guarantees or guarantees to the largest shareholder and its related parties were reported.