Changjiang Publishing & Media guarantees RMB230m in subsidiary loans

Changjiang Publishing & Media Co., Ltd. announced guarantees for its wholly-owned subsidiary, Hubei Changjiang Publishing & Printing Materials Co., Ltd. The guarantees total RMB230 million, comprising RMB100 million with China Everbright Bank Wuhan Branch and RMB130 million with Hubei Bank Wuhan Hongshan Sub-branch. This brings the total outstanding guarantee balance for the subsidiary to RMB200.847 million, with the cumulative external guarantee amount for all subsidiaries reaching RMB470.847 million, representing 4.94% of the company's latest audited net assets.

These guarantees fall within the RMB1.05 billion total guarantee limit approved at the 2024 annual shareholders' meeting on May 23, 2025. The guarantees are structured as joint and several liabilities with a three-year term, effective from the contract date. Changjiang Publishing & Media stated that these guarantees are crucial for the subsidiary's sustainable development, given its stable operations and controlled risks, without impacting the parent company's ongoing financial health.

The company's board of directors approved the 2025 credit and guarantee proposal on April 10, 2025. The subsidiary, which had negative net assets of RMB204.4255 million as of September 30, 2025, is deemed capable of debt repayment by the parent company. As of the announcement date, there are no overdue external guarantees.