Yunnan Energy New Material guarantees subsidiary's $7m loan

Yunnan Energy New Material Co., Ltd. has entered into a guarantee agreement with China CITIC Bank Chongqing Branch. This agreement provides a joint and several liability guarantee for its subsidiary, Chongqing Energy New Material Technology Co., Ltd., for a working capital loan facility of RMB 50,000,000. This action follows the approval by the company's fifth board of directors and the first extraordinary general meeting in late 2024 and early 2025, respectively.

The scope of the guarantee covers the principal debt, interest, penalties, liquidated damages, and other related costs for the primary contract. The guarantee period extends for three years from the expiry of the debt's performance period under the primary contract.

As of the disclosure date, Yunnan Energy New Material's total approved external guarantees, including those for subsidiaries, amount to RMB 60,000,000,000, representing 245.19% of the company's net assets attributable to shareholders in the latest audited period. The actual effective guarantees signed total RMB 39,252,137,600, or 160.40% of the net assets attributable to shareholders in the latest audited period. There are no other outstanding external guarantees, overdue guarantees, guarantees involving litigation, or guarantees for which the company has been ruled to bear losses.