Zhuhai Port unit to guarantee subsidiary's leasing deal

Zhuhai Port Co., Ltd. (SZSE:000507) announced that its subsidiary, Heilongjiang Shunting New Energy Technology Co., Ltd., will provide a guarantee by pledging its 100% equity of Fangzheng Jiangwan Wind Power Co., Ltd., a wholly-owned subsidiary of Zhuhai Port Sheng New Energy. Fangzheng Jiangwan will lease back its wind power equipment from Kunlun Financial Leasing Co., Ltd. for CNY 220 million over a 10-year period, securing the deal with the first priority pledge of the wind farm's electricity charge revenue rights. The board of directors approved the plan, noting its benefit in optimizing asset utilization and financing structure. The announcement also cautioned investors regarding Fangzheng Jiangwan's debt ratio exceeding 70%. After this guarantee, the total amount of external guarantees provided by the company and its holding subsidiaries is CNY 270,716.30 thousand, accounting for 40.87% of the company’s latest audited net assets.