Quzhou Xinan development guarantees subsidiary loan for global ventures

Quzhou Xinan Development Co. (stock code: 600208) announced a RMB 731 million guarantee for its wholly-owned subsidiary, Hong Kong Xinhu Investment Co. This guarantee, executed through a rights pledge agreement with China CITIC Bank Corporation Limited Hangzhou Branch, supports Hong Kong Xinhu's daily operations for a period of one year. The total amount of the actual guarantee provided is RMB 3,080.7631 million.

The guarantee falls within previously approved limits, as authorized by the company's 12th Board of Directors' 12th Meeting and the 2025 second extraordinary general meeting. These approvals included a total guarantee quota of RMB 21 billion for 31 controlled subsidiaries and RMB 5 billion for three joint and associated companies.

As of the announcement date, Quzhou Xinan Development and its controlled subsidiaries' total approved external guarantees, including counter-guarantees, amount to RMB 30.472 billion. The total amount of signed and outstanding guarantee contracts is RMB 20.720 billion, representing 49.45% of the company's latest audited net assets. There are currently no overdue external guarantees.