Phoenix Shipping guarantees loan for subsidiary

Chang Jiang Shipping Group Phoenix (SZSE:000520) announced that it has provided a guarantee for a CNY 1,000,000 working capital loan to Shanghai Huatai Shipping, a wholly-owned subsidiary. The guarantee was approved at the company's ninth board meeting on March 6, 2025. The guarantee is for a period of one year. The financial institution providing the loan is the Shanghai Branch of Nanjing Bank. The guarantee is a joint liability guarantee, covering principal, interest, penalties, damages, and other expenses related to the debt recovery. As of April 8, 2025, the company has no other outstanding guarantees. The total amount of guarantees now represents 1.84% of the company’s net assets.