Sinopec engineering reports September 2025 guarantee activity

China Petroleum Engineering Corp. (CPEEC) reported 55 guarantee transactions for September 2025, totaling approximately RMB 301.14 million. These guarantees, primarily credit guarantees, are provided to various domestic subsidiaries and branches. The transactions fall within the RMB 51.13 billion guarantee quota approved by the board and shareholders for 2025. This quota includes RMB 50.30 billion for entities with a debt-to-asset ratio above 70% and RMB 825 million for those below 70%.

As of September 30, 2025, CPEEC's total outstanding guarantees, including those from subsidiaries, amounted to approximately RMB 45.19 billion. This figure represents 170.46% of the company's audited net assets as of December 31, 2024, highlighting a substantial level of financial exposure. The company has no overdue external guarantees.

The guarantee plan for 2025, effective from January 1 to December 31, was approved during the Ninth Board of Directors Fifth Interim Meeting and the Fourth Interim Shareholders' Meeting in late 2024. This plan outlines an authorized RMB 18.96 billion for new bank credit guarantees and RMB 32.17 billion for new performance guarantees.