CRRC subsidiary guarantees loan for Brazilian rail project

CRRC Corporation Limited (CRRC Corp) announced that its wholly-owned subsidiary, CRRC (Hong Kong) Co., Ltd., has provided a financing guarantee for its associate, TIC TRENS S.A., the Brazilian Project Company. The guarantee, totaling BRL 240 million, is for the Brazilian Project Company's "São Paulo State Intercity Railway North Axis PPP Project." This action follows a board resolution on September 9, 2025, which approved a financing guarantee of up to approximately RMB 339 million. Other shareholders will provide guarantees proportionate to their stakes.

The guarantee relates to two agreements: an RMB bridge financing guarantee with Industrial and Commercial Bank of China Limited for up to BRL 300 million equivalent in RMB, covering 40% of repayment obligations for up to 18 months, expiring by March 26, 2027; and a BRL bridge financing guarantee with Oliveira Trust Distribuidora de Títulos e Valores Mobiliários S.A. for BRL 300 million in bonds, covering 40% of the bond issuance until full repayment by March 26, 2027. CRRC (Hong Kong) Co., Ltd. holds a 40% stake in TIC TRENS S.A., with Comporte holding the remaining 60%.

As of the disclosure date, CRRC Corp's total external guarantees, including those from its subsidiaries, amount to RMB 59.013 billion, representing 34.97% of its net assets as of December 31, 2024. Guarantees to subsidiaries totaled RMB 54.277 billion, and guarantees to controlling shareholders and related parties amounted to RMB 1.195 billion. There are no overdue guarantees.