Honglu Steel Construction expands financial support for subsidiaries with new guarantees

Anhui Honglu Steel Construction Group, through board resolutions in November and December 2024, and further approvals in April and May 2025, approved a total guarantee limit of RMB 15.943 bn for 17 subsidiaries. This comprehensive support facilitates bank financing for entities such as Anhui Hongxiang Building Materials, Luoyang Shenghong Jinnuo Technology, and Anhui Jinzhai Jinhongnuo Technology.

Recent developments include the signing of several maximum guarantee contracts in August 2025. For instance, on August 14, 2025, the company signed a contract with China Construction Bank to guarantee Anhui Jinzhai Jinhongnuo Technology’s financing, with a maximum amount of RMB 210 million and a term from August 14, 2025, to August 14, 2026. Similar agreements were reached for Luoyang Shenghong Jinnuo Technology, Anhui Hongxiang Building Materials, and other subsidiaries, with guarantee amounts ranging from RMB 100 million to RMB 210 million and varying terms extending to 2027.

As of the announcement date, Anhui Honglu Steel Construction Group's total external guarantees for subsidiaries amount to RMB 7.639 bn, representing 79.46% of its audited net assets as of December 31, 2024. All guarantees are for consolidated subsidiaries, with no overdue or litigation-related guarantees reported.