Citic Special Steel's unit provides internal guarantee

Citic Pacific Special Steel Group announced that its wholly-owned subsidiary, Taifu Special Steel Jingjiang Port Co., Ltd. ("Jingjiang Port"), will provide a guarantee of 500 million yuan for its wholly-owned subsidiary, Jingjiang Special Steel Co., Ltd. ("Jingjiang Special Steel"). Jingjiang Special Steel is applying for a 500 million yuan credit line from China CITIC Bank Taizhou Branch, with Jingjiang Port providing a joint liability guarantee for a three-year period. As of the disclosure date, the total amount of guarantees provided by the company and its subsidiaries for other controlled subsidiaries and participating companies is 869.9 million yuan, representing 22.53% of the net assets attributable to shareholders of the parent company in the most recent audit report.