Jingxing Paper’s subsidiary secures loan, parent provides guarantee

Zhejiang Jingxing Paper Joint Stock Company (Jingxing Paper) disclosed an external guarantee arrangement where its wholly-owned subsidiary, Jingxing Holdings (Malaysia) Co., Ltd., secured a loan of up to 100 million yuan from Banco Internacional de Macau, S.A. The loan, dated October 21, 2025, is for working capital with a usage period of up to 12 months.

Concurrently, Jingxing Paper entered a comprehensive credit facility agreement with Banco Internacional de Macau, S.A., Hangzhou Branch, for a total of 100 million yuan, valid from October 24, 2025, to April 24, 2027. This facility is intended for standby letters of credit to guarantee the subsidiary's loan. The company's board and supervisory board approved these guarantees on April 28, 2025, followed by shareholder approval on May 27, 2025. This allows Jingxing Paper to provide guarantees for its subsidiaries. As of this announcement, Jingxing Paper has not yet issued the standby letters of credit.

Following these arrangements, Jingxing Paper and its controlled subsidiaries’ total external guarantees amount to 1,213.0184 million yuan. Guarantees for entities outside the consolidated financial statements total 269.00 million yuan, representing 20.76% and 4.60% of the company's net assets as of December 31, 2024, respectively. The company confirmed no overdue guaranteed debts, guarantees involved in litigation, or liabilities arising from adverse court rulings.