Beijing Capital Development to guarantee subsidiary's $100m loan for real estate project

Beijing Capital Development Co. Ltd. will provide a 100 million yuan full, joint, and several liability guarantee for its wholly-owned subsidiary, Guiyang Shoukai Longtai Real Estate Development Co. Ltd. This guarantee supports Guiyang Longtai's application for a 100 million yuan real estate development loan from Industrial and Commercial Bank of China Guiyang Branch, with a 36-month term, to fund the Guiyang Shoukai Zijun Phase IV project. The loan will be secured by a mortgage on the construction-in-progress of the project.

The guarantee was approved at the Tenth Board of Directors' Fifty-Second Meeting on November 20, 2025, and falls within the scope of the guarantee amount authorized by the 2024 Annual General Meeting on May 20, 2025. This means no further shareholder approval is required. As of the announcement date, Beijing Capital Development's total external guarantees, including this transaction, amount to 1,368,209.86 yuan, representing 100.81% of its latest audited net assets attributable to the parent company.

Despite Guiyang Longtai's asset-liability ratio exceeding 70%, the board believes the guarantee risk is controllable and serves the company's overall interests, as the subsidiary has no overdue debts. The board also passed resolutions concerning the company's eligibility for and proposed plan for issuing non-public corporate bonds to professional investors, with a total face value not exceeding 10.5 billion yuan.