Citic Pacific Special Steel subsidiary to provide intra-group guarantee

Citic Pacific Special Steel Group (SZSE:000708) announced that its subsidiary, Tianjin Steel Pipe Manufacturing Co., Ltd. ("Tianjin Steel Pipe"), plans to provide a guarantee of CNY 229 million for its subsidiary, Tianjin Steel Pipe International Economic & Trading Co., Ltd. ("Tianjin Steel Pipe International"). The guarantee will support Tianjin Steel Pipe International's application for a CNY 229 million credit line with Bank of China Tianjin Dongli Branch. Tianjin Steel Pipe will provide joint liability guarantee with a term of three years from the maturity date of the underlying debt. The guarantee has been approved by Tianjin Steel Pipe's board. As of the disclosure date, the company's total guarantee amount for subsidiaries is CNY 749,900,000, or 18.32% of the latest net assets. No overdue or litigation-related guarantees were reported.