Jiangsu Financial Leasing guarantees $10.73m debt for project company

Jiangsu Financial Leasing Co., Ltd. has announced a guarantee of $10,730,000 for its wholly-owned project company, Huidu (Tianjin) Shipping Leasing Co., Ltd. Huidu Leasing is a project company established by Jiangsu Financial Leasing in China's bonded areas to conduct cross-border ship leasing business. The guarantee was provided through an agreement with Nanjing Bank Co., Ltd. Nanjing Branch. As of the announcement date, the total actual guarantee provided to Huidu Leasing, including this transaction, stands at $10,730,000.

This guarantee aligns with the company's operational and development strategy, supporting Huidu Leasing's growth. The company holds 100% equity in Huidu Leasing, ensuring full control and manageability of associated risks. The company's board of directors approved a proposal on the estimated guarantee quota for project companies in domestic bonded areas for 2025 on April 25, 2025, and at the 2024 annual general meeting on May 19, 2025, authorizing guarantees for project companies in domestic bonded areas up to RMB 6 billion (or equivalent foreign currency).

As of the announcement date, Jiangsu Financial Leasing's cumulative external guarantee balance, including this transaction, amounts to RMB 3,894,612,964.92, representing 16.14% of the company's audited net assets as of December 31, 2024. No overdue guarantees were reported.