Jingxing Paper details updated mutual guarantees with associate

Zhejiang Jingxing Paper Joint Stock Company Limited has disclosed further progress on its mutual guarantee arrangements with Pinghu Hongxin Thermal Power Co. This includes providing a joint liability guarantee for Hongxin Thermal Power's 13m yuan working capital loan from China Everbright Bank Jiaxing Pinghu Branch, signed on November 10, 2025, for a 12-month term. This guarantee falls under a maximum guarantee contract for the period from September 11, 2025, to September 11, 2026.

Additionally, Hongxin Thermal Power has engaged in multiple transactions with China Minsheng Bank Jiaxing Branch under a comprehensive credit agreement. The company provides joint liability guarantees for Hongxin Thermal Power's 10m yuan working capital loan and a 10m yuan domestic letter of credit financing, both executed on November 12, 2025, and maturing on November 12, 2026. These fall under a maximum guarantee contract of 20m yuan, covering the period from November 6, 2025, to November 5, 2026.

Following these latest guarantees, the company's total outstanding external guarantees, including those from its controlled subsidiaries, amount to 1.22bn yuan. Of this, guarantees provided to entities outside the consolidated financial statements total 269m yuan. These amounts represent 20.90% and 4.60%, respectively, of the company's net assets as of December 31, 2024. The company and its controlled subsidiaries have no overdue guarantees or guarantees involved in litigation that could result in adverse judgments.