Truchum completes ESOP, significantly expands subsidiary credit guarantees

Anhui Truchum Advanced Materials & Technology Co., Ltd. announced the completion of its fourth employee stock ownership plan (ESOP) on November 18, 2025. All 49,080,000 shares held by the ESOP, representing 3.02% of the company's total share capital, were sold via centralized bidding by November 17, 2025. The ESOP, established on June 1, 2022, had its duration extended by 12 months to June 1, 2026, before its early termination due to the full sale of shares.

In a related development, Truchum is providing new guarantees for its subsidiaries' credit facilities, as approved in March and April 2025. The company recently signed guarantee contracts, increasing its total guarantee exposure. For example, the guarantee balance for Anhui Truchum Copper Co., Ltd. rose from yuan 212,500,000 to yuan 222,500,000, while Qingyuan Truchum Copper Co., Ltd.'s guarantee balance increased from yuan 89,400,000 to yuan 124,400,000. Additionally, the guarantee for Wuhu Truchum Alloy Material Co., Ltd. grew from yuan 57,900,000 to yuan 62,900,000, and for Anhui Xinhai High Conductive New Materials Co., Ltd. from yuan 96,800,000 to yuan 99,800,000. As of November 18, 2025, Truchum's cumulative external guarantee balance totals yuan 914,758,000, representing 105.46% of the company's net assets as of September 30, 2025.