Sinotrans details new external guarantees for subsidiaries, totaling 3.283 bn yuan

Sinotrans has provided external guarantees totaling 3.283 billion yuan to 75 of its subsidiary and branch companies, as detailed in a recent announcement. These guarantees, primarily for credit facilities with Bank of China, are a renewal of existing arrangements, with prior guarantees amounting to 1.296 billion yuan for the same entities. The company also provides an unspecified amount of qualification-based guarantees for the futures business of some wholly-owned subsidiaries.

The guarantees are valid until December 15, 2026, or until the next annual general meeting approves a new guarantee plan. Five non-wholly-owned subsidiaries and branches receiving guarantees, including two from Ningbo, have provided counter-guarantees from other shareholders. Sinotrans confirms that no overdue guarantee matters exist for the company or its subsidiaries as of the announcement date.

Following these adjustments, 41 of the guaranteed entities now have a debt-to-asset ratio exceeding 70%. The total external guarantees by Sinotrans and its subsidiaries amount to approximately 6.128 billion yuan, representing 14.58% of the company's latest audited net assets. Guarantees for controlling shareholders and related parties stand at approximately 410 million yuan (0.98% of net assets).