China Shipbuilding Industry Group Power guarantees subsidiary's loan

China Shipbuilding Industry Group Power, through its wholly-owned subsidiary Wind-sail Co., Ltd., has provided a yuan 211.50 guarantee for Wind-sail Energy Storage Technology Co., Ltd. This guarantee, valid for 12 months, supports a performance bond issued by China Construction Bank. This transaction is part of the yuan 240,760.03 total guarantee limit approved by the company's board and shareholders for its subsidiaries' short-term loans, commercial acceptances, and other financing needs. No counter-guarantee was obtained for this transaction.

The guarantee falls within the previously approved annual limits from the 2024 annual general meeting, covering the period until the 2025 annual general meeting. The company's board believes this guarantee is essential for Wind-sail Energy Storage Technology's sustained development and aligns with the company's overall interests and strategic objectives, with manageable risk due to Wind-sail Co., Ltd.'s effective management and oversight of its subsidiary.

As of the announcement date, China Shipbuilding Industry Group Power's total external guarantees amount to yuan 55,511.50, representing 1.09% of its most recent audited net assets. Guarantees for subsidiaries total yuan 53,000.00, while those for sub-subsidiaries are yuan 2,500.00. The company has no overdue external guarantees and has not provided guarantees to controlling shareholders or related parties.