CITIC Heavy Industries secures 899.7m yuan performance bond for subsidiary

CITIC Heavy Industries Co., Ltd. announced it has facilitated a performance bond for its wholly-owned subsidiary, CITIC Heavy Industries Engineering Technology Co., Ltd. In November 2025, CITIC Heavy Industries acted as the applicant to secure a separate performance bond of 899.70 million yuan from the Luoyang branch of Postal Savings Bank of China on behalf of the Engineering Company. This transaction leverages CITIC Heavy Industries' credit line with the bank. As of November 30, 2025, CITIC Heavy Industries' total actual outstanding guarantee balance for the Engineering Company stands at 25,103.52 million yuan.

This guarantee falls within the previously approved maximum guarantee limit of 80,000 million yuan for wholly-owned subsidiaries with an asset-liability ratio exceeding 70%. The Engineering Company's asset-liability ratio surpassed 70% as of September 30, 2025. The company stated that the guarantee is necessary for the Engineering Company's business operations and to secure new project contracts, ensuring smooth project execution.

The board of directors of CITIC Heavy Industries approved the estimated guarantee amount, noting that all guaranteed subsidiaries are wholly-owned, allowing for effective management and control of potential risks. The company also confirmed no outstanding guarantees to controlling shareholders or related parties.