Jiangnan Chemical announces loans, guarantees, and acquisition bid

Jiangnan Chemical's board approved a substantial entrustment loan initiative totaling up to RMB 423 million through Binggong Finance Co., Ltd., benefiting several subsidiaries to support their working capital. Concurrently, the company will provide counter-guarantees for up to RMB 72.5049 million in bank guarantees issued by its wholly-owned subsidiary, Northern Blasting Technology Co., Ltd., to support its overseas operations in Namibia.

In a strategic move, Jiangnan Chemical plans to participate in an open bid to acquire 100% equity in Chongqing Shunan Blasting Equipment Co., Ltd. and a 30% stake in Chongqing Shunan Nantong Blasting Equipment Co., Ltd. The combined transfer floor price for these acquisitions is RMB 103,374.457 million, pending shareholder approval and subject to competitive bidding on the Chongqing United Assets and Equity Exchange.

These decisions were made during the Seventh Board of Directors' Eighth Meeting on October 10, 2025, and will be presented for shareholder approval at the Third Extraordinary General Meeting on October 27, 2025. This suite of transactions aims to bolster the company's financial liquidity, support operational expansion, and advance its strategic growth in the blasting industry.