Industrial Securities adjusts subsidiary guarantee limits for business operations

Industrial Securities Co., Ltd. has disclosed adjustments to the guarantee limits provided by its offshore holding company, Orient Securities International Financial Group Company Limited, for its wholly-owned subsidiary, CISI Investment Limited. The adjustments, which do not involve new guarantees, are intended to support CISI's daily operations and business expansion. CISI's asset-liability ratio exceeds 70%, but the company maintains timely control over its solvency and financial risks.

The adjustments include increasing the guarantee limit for CISI with Barclays Bank PLC and Citigroup Global Markets Limited from $0.1m to $0.5m each under the ISDA Master Agreement. Guarantees with Citigroup Global Markets Limited under the GMRA Repurchase Agreement will increase from $0.1m to $200m, and with The Hongkong and Shanghai Banking Corporation Limited from $300m to $400m.

Conversely, limits with Goldman Sachs International under ISDA will decrease from $200m to $50m, with J.P. Morgan Securities PLC under GMRA from $300m to $250m, and with UBS AG and China CITIC Bank International Limited under ISDA and GMRA respectively from $150m to $50m each. As of the announcement date, the company and its subsidiaries' total guarantees amount to RMB 23.406bn, with no overdue guarantee debts.