China Power boosts financial flexibility with new 2026 agreements

China Shipbuilding Industry Group Power (China Power) announced the signing of a 2026 financial services agreement with CSSC Finance Company Limited, a related party, to enhance capital efficiency and reduce funding costs. This agreement, effective until the approval of the next year's financial services agreement by shareholders, sets a daily maximum deposit balance of 55 billion yuan, a daily maximum loan balance of 8 billion yuan, an annual credit line of 15.3 billion yuan, and other financial services (including guarantees, letters of credit, and financial derivatives) up to 7.2 billion yuan. The company also projected 2026 daily related-party foreign exchange derivative transactions to not exceed 7 billion yuan in total contract value, with an expected utilized credit line from financial institutions of 1.5 billion yuan.

Additionally, China Power forecasts its 2026 daily related-party transactions, with maximum sales of 28.5 billion yuan (excluding tax) and maximum purchases of 14 billion yuan (excluding tax), alongside other related-party transactions (including property and equipment leases) not exceeding 0.5 billion yuan. The company will also provide new guarantees totaling 10.822 billion yuan for its subsidiaries, including Wuhan King Power Nuclear Energy Equipment Engineering Co., Ltd., Wuhan King Power New Energy Engineering Technology Co., Ltd., CSSC Heavy Industry Special Equipment Co., Ltd., and Wind Power Storage Technology Co., Ltd., ensuring the overall actual guarantee amount does not exceed 66.3337 billion yuan.