Jidong Cement provides 20m yuan guarantee for Shenyang subsidiary

Jidong Cement Group Co., Ltd. announced the signing of a maximum guarantee contract with the Shenyang branch of Shanghai Pudong Development Bank for its wholly-owned subsidiary, Shenyang Jidong Cement Co., Ltd. The guarantee, totaling 20,000,000 yuan, aims to support Shenyang Jidong Cement's daily production and operation financing needs. This action falls within the scope of guarantee amounts approved by the company's 2024 Annual General Meeting.

Shenyang Jidong Cement Co., Ltd., with a registered capital of 70,000,000 yuan, is 100% owned by Jidong Cement. Its ultimate control rests with the Beijing Municipal People's Government State-owned Assets Supervision and Administration Commission. As of December 31, 2024, Shenyang Jidong Cement reported total assets of 123,217,400 yuan and total liabilities of 96,756,600 yuan, with a net asset of 26,460,800 yuan. For 2024, its operating revenue was 169,034,600 yuan, generating a net profit of 6,586,400 yuan.

The guarantee is a joint and several liability, covering the principal debt, interest, penalties, and other associated costs. The guarantee period extends for three years from the expiration of the debt's performance period. As of the announcement date, the company's total external financing guarantee balance for its holding and joint-venture subsidiaries stands at 467,961,000 yuan (excluding this guarantee), representing 1.69% of the company's net assets attributable to shareholders.