Tian Shan Aluminum boosts subsidiaries with 1.4 bn yuan in new guarantees

Tian Shan Aluminum Group Co., Ltd. (Tian Shan Aluminum) has provided new guarantees totaling 1.4 billion yuan to support its wholly-owned subsidiaries and sub-subsidiaries. This includes a 900 million yuan maximum guarantee for Xinjiang Production and Construction Corps Eighth Division Tian Shan Aluminum Co., Ltd. (Tianlu Aluminum) with Industrial and Commercial Bank of China, and a 400 million yuan maximum guarantee for Tianlu Aluminum with China Construction Bank. Additionally, a 100 million yuan maximum guarantee was provided for Shihezi City Xinren Battery Aluminum Foil Technology Co., Ltd. (Shihezi Aluminum Foil) with China Minsheng Bank.

These guarantees fall within the scope of the 24.9 billion yuan total new guarantee limit approved by the company's board and shareholders. Following these actions, the total external guarantee balance for Tian Shan Aluminum and its holding subsidiaries (excluding intra-group guarantees) stands at 29.753 billion yuan, representing 110.89% of the company's latest audited net assets. The guarantees are crucial for the ongoing financing and operations of Tianlu Aluminum and Shihezi Aluminum Foil, both of which are reported to have sound assets and debt repayment capabilities.

Tian Shan Aluminum maintains absolute control over these entities, allowing for effective management and monitoring of cash flows, mitigating financial risks. The company affirmed that no counter-guarantees were provided by Tianlu Aluminum or Shihezi Aluminum Foil for these guarantees, and there are no overdue guarantees or guarantees involved in litigation.