Zhuhai Port to guarantee subsidiary loan, seeks new director election

Zhuhai Port Company Limited announced that its wholly-owned subsidiary, Zhuhai Gangchao New Energy Technology Group Co., Ltd., plans to apply for an 83.22 million yuan M&A loan from Jiangsu Bank. Zhuhai Port will provide a full joint and several liability guarantee for this loan, which aims to replace acquisition funds. The company's board of directors approved this guarantee, noting it will reduce financing costs and optimize the subsidiary's financial structure.

Following this guarantee, Zhuhai Port's total external guarantees, including those from its controlled subsidiaries, will amount to 2,620.383 million yuan, representing 39.56% of its latest audited net assets.

Additionally, the board approved the nomination of Mr. Cai Wen as a candidate for director of the eleventh board. Mr. Cai has extensive experience in various leadership roles within state-owned enterprises, including Zhuhai Airport Group Co., Ltd. The election of Mr. Cai will be put to a vote at the 2025 Fourth Extraordinary General Meeting, scheduled for October 31, 2025.