Ningbo Boway Alloy guarantees subsidiaries' financing for operations, expansion

Ningbo Boway Alloy Material Co., Ltd. has provided guarantees for its wholly-owned subsidiaries, Boway Alloy (Hong Kong) International Trading Co., Ltd. and Berkenhoff GmbH, to support their daily operations. The guarantee for Boway Alloy (Hong Kong) totals 13,480万元, while Berkenhoff GmbH received a guarantee of €15m. These guarantees fall within the previously approved annual guarantee plan.

The guarantees are structured as joint and several liability, with various banks acting as creditors, including Agricultural Bank of China Ningbo High-tech Zone Branch, Export-Import Bank of China Ningbo Branch, and China Construction Bank Frankfurt Branch. The guarantees are primarily for comprehensive credit facilities, foreign currency loans, letter of credit operations, and working capital. The company holds 100% equity in both guaranteed subsidiaries, ensuring control over their operations.

As of the announcement date, the company's total outstanding external guarantees, including the current transactions, amount to 380,109.04万元, representing 45.15% of its net assets as of the end of 2024. All guarantees are provided to wholly-owned subsidiaries, with no overdue guarantees reported. The board of directors affirmed that these guarantees align with the company's strategic interests and do not harm shareholder benefits.