Almaden to guarantee CNY 5.1m for subsidiary

Changzhou Almaden (SZSE:002623) announced it will provide a guarantee for its holding subsidiary, Adamant (Benxi) New Material Co., Ltd. The guarantee is for CNY 5.1 million, proportional to Almaden's 51% shareholding in the subsidiary, as part of a CNY 10 million line of credit that Adamant (Benxi) will seek from Shengjing Bank Benxi County Branch for working capital. The remaining portion of the loan will be guaranteed by a related party. As of March 31, 2025, Adamant (Benxi) has an audited net asset value of CNY 2.37 million with an audited asset-liability ratio exceeding 70%. The board has approved the guarantee, but it is subject to shareholder approval due to the subsidiary's asset-liability ratio exceeding 70%. Including this guarantee, Almaden's total external guarantee balance is CNY 27,844.24 million, representing 9.27% of the company's latest audited net assets attributable to shareholders.