Meijin Energy provides guarantee for subsidiary, Fenxi Taiyue

Shanxi Meijin Energy Co., Ltd. (SZSE:000723) announced that its subsidiary, Shanxi Fenxi Taiyue Coal Industry Co., Ltd., has obtained a credit line of RMB 264 million from the Changzhi branch of the Bank of China. Meijin Energy provided a guarantee to secure this credit facility. The guarantee period extends three years beyond the debt's maturity. This move falls within the approved guarantee limit of RMB 4.6 billion authorized by the company's 2023 annual shareholders' meeting. Post-guarantee, Meijin Energy's remaining available guarantee quota is RMB 103.8714 million. Fenxi Taiyue's asset-liability ratio is 17.50%, and the guarantee represents 1.76% of Meijin Energy's latest audited net assets. The company affirmed it maintains control over Fenxi Taiyue's operations and finances, mitigating risks.