Xining Special Steel secures significant leaseback and credit facilities

Xining Special Steel Co., Ltd. has announced a series of financial initiatives to optimize its asset structure and secure funding. The company will engage in a sale-and-leaseback arrangement for certain asset equipment, aiming to raise up to RMB 20,000 million over a three-year term. This transaction, approved by the board, is supported by a joint liability guarantee from Beijing Jianlong Heavy Industry Group Co., Ltd. and its actual controller. The company states this move will not disrupt its normal operations or harm shareholder interests.

Concurrently, Xining Special Steel has secured two significant lines of credit. It plans to apply for a two-year, RMB 500,000,000 comprehensive credit facility from Qinghai Bank Co., Ltd. Chengbei Branch, collateralized by land and buildings valued at approximately RMB 598.95 million. Additionally, the company has obtained a one-year, RMB 300,000,000 comprehensive credit line from Bohai Bank Tianjin Branch, guaranteed by its controlling shareholder, Tianjin Jianlong Iron and Steel Industry Co., Ltd., which will pledge no less than 146,271,700 shares. Beijing Jianlong Heavy Industry Group Co., Ltd. and the actual controller will also provide joint liability guarantees for this facility.