Jiangsu Shagang unit to guarantee subsidiary's debt

Jiangsu Shagang Co., Ltd. (SZSE:002075) announced that its controlling subsidiary, Jiangsu Shagang Group Huaigang Special Steel Co., Ltd. ("Huaigang Company"), will provide a guarantee for Jiangsu Li Huai Iron and Steel Co., Ltd. ("Jiangsu Li Huai"), another subsidiary of Huaigang. The guarantee will not exceed CNY 680 million. This guarantee aims to support the normal production and operation of Jiangsu Li Huai. The term of the guarantee is from the date of approval by Huaigang Company's 2024 annual shareholders' meeting until the date of the 2025 annual shareholders' meeting. As of December 31, 2024, Huaigang Company's existing guarantees for Jiangsu Li Huai totaled CNY 346 million, representing 5.40% of the company's audited net assets. The company clarified that there are no other external guarantees or overdue guarantees. The decision has been approved by both Huaigang Company's board of directors and shareholders' meeting.