CSSC Offshore subsidiary boosts guarantee for Wenchuan Heavy Industry

CSSC Offshore and Marine Engineering Group's indirect wholly-owned subsidiary, Guangzhou Wenchong Shipyard Co., Ltd., has increased a performance guarantee for its wholly-owned subsidiary, Guangzhou Wenchuan Heavy Industry Co., Ltd. The original 137,885,535.03 yuan guarantee for an offshore wind farm contract has been raised by 22,317,507.67 yuan to 160,203,042.70 yuan. The guarantee's expiration date was also extended from April 1, 2026, to April 27, 2026.

This adjustment is within the 2.536 bn yuan guarantee limit approved at the company’s 2024 annual shareholders’ meeting. Wenchuan Heavy Industry currently has a debt-to-asset ratio exceeding 70%, noted as a special risk.

As of the disclosure date, the total external guarantees by CSSC Offshore and its holding subsidiaries amount to 534,877.43 m yuan, representing 30.01% of the company's latest audited net assets. There are no overdue guarantees.