Fangda Special Steel revises guarantees, shareholder maintains stake

Fangda Special Steel Technology shareholder Xu Huigong, holding 5.05% of the company's total share capital, concluded a planned share reduction period from August 26, 2025, to November 23, 2025. Despite the plan to reduce up to 23,131,800 shares (1% of total share capital), Xu Huigong did not execute any reduction, maintaining his 5.05% stake.

Concurrently, Fangda Special Steel revised its inter-guarantee agreement with Fangda Carbon New Material Technology Co., Ltd. The previous guarantee limit of up to RMB 1 billion has been adjusted to RMB 500 million, effective from November 28, 2025. This adjustment aims to meet the long-term financing needs of both parties.

Additionally, Fangda Special Steel approved a new guarantee of RMB 50 million for its wholly-owned subsidiary, Ningbo Fangda Haiou Trading Co., Ltd. Ningbo Haiou's asset-liability ratio stood at 91.47% as of September 30, 2025. The total external guarantees by Fangda Special Steel (including subsidiaries) amount to RMB 425.8 million, representing 45.80% of its latest audited net assets.