Truchum provides guarantees for subsidiaries' credit lines

Anhui Truchum Advanced Materials & Technology (SZSE:002171) announced that it is providing guarantees for credit lines to its subsidiaries and sub-subsidiaries, totaling no more than 720 million yuan. These guarantees, approved at the company’s board and shareholder meetings in April and May 2024, are for companies including Anhui Truchum Advanced Materials, Anhui Truchum High-tech Electrical Materials Marketing, Wuhu Truchum Alloy Copper Marketing, and Jiangsu Xinhai High Conductivity New Materials. Recent developments include guarantees to Truchum Advanced Materials with Wuhu Yangzi Rural Commercial Bank and Zheshang Bank Hefei Branch, totaling 24 million yuan. The company says the guarantees are within previously approved limits and are to support normal operations and access to funding. As of the announcement, the company's total external guarantees stood at 656.36 million yuan, accounting for 86.73% of the net assets attributable to shareholders of the listed company as of the end of 2024.