Anyang Iron & Steel to guarantee loans for subsidiaries

Anyang Iron & Steel Group will hold its third extraordinary general meeting of shareholders on September 18, 2025, to deliberate on two proposals concerning loan guarantees for its subsidiaries. The meeting will allow for both in-person and online voting.

The first proposal involves providing a joint and several liability guarantee for a 100 million yuan comprehensive credit line for its controlling subsidiary, Henan Anyang Iron & Steel Zhoukou Iron and Steel Co., Ltd. This credit line, with a one-year term, is being sought from the Zhengzhou branch of China Minsheng Banking Corporation Limited to support the subsidiary's business development.

The second proposal addresses a guarantee for Henan Anyang Iron & Steel Southern Electromagnetic New Materials Technology Co., Ltd. This subsidiary plans to engage in a lease financing business with Hubei Financial Leasing Co., Ltd. for the second phase of its electromagnetic new materials project, involving equipment with a planned financing amount not exceeding 80 million yuan over a two-year term.

Both proposals have already been reviewed and approved by the company's eleventh extraordinary board meeting in 2025. Shareholder approval at the upcoming meeting will authorize the chairman to sign the necessary agreements and documents for these transactions, ensuring the continued financial stability and growth of the subsidiaries.