SIPG subsidiary loans 3.22 bn yuan for working capital

Shanghai International Port Group (SIPG) announced that its controlling subsidiary, Shanghai Shengdong International Container Terminal Co., Ltd. (Shengdong Company), has disbursed a loan of 3.22 billion yuan to Zhejiang Seaport Investment and Operation Group Co., Ltd. This action follows board approval for various external lending activities totaling up to 17.92 billion yuan.

The loan, extended under an entrusted loan agreement, is for working capital turnover with an annual interest rate of 2% and matures on October 9, 2026. This disbursement utilizes Shengdong Company's previously approved lending quota.

Following this transaction, SIPG's total external lending balance stands at 2.9 billion yuan, representing 0.22% of its latest audited net assets. Including its subsidiaries, the total external lending amounts to 26.54 billion yuan, or 1.99% of its net assets, with no overdue amounts reported.