Tianma Bearing Group overhauls governance, settles debt, guarantees subsidiary loan

Tianma Bearing Group has approved a comprehensive set of revised internal governance documents, including systems for material information reporting, annual report disclosure accountability, and information disclosure management. These updates also cover securities trading, related party and external investment, internal control, internal audit, anti-fraud, insider information, shareholding fluctuation, investor relations, accountant selection, financial assistance, and guarantee management. These changes aim to enhance corporate governance and risk management.

Concurrently, the company announced a debt restructuring plan for financial assistance provided to its affiliate, Qiqihar Xinhao Runcheng Real Estate Development. The affiliate's outstanding financial assistance of 89,875,616.41 yuan will be partially settled through a 2,500,000 yuan cash payment and the transfer of 58 properties valued at 37,788,900.00 yuan. The remaining 27,086,716.41 yuan will be subject to an interest-free extension until December 18, 2028. This restructuring is expected to increase the company's current profit by 6,065,750 yuan, improving its financial stability.

Furthermore, Tianma Bearing Group will provide a guarantee of up to 50,000,000 yuan for its subsidiary, Shanghai Yigeng Precision Machine Tool Co., Ltd., to support its credit line with a bank. These changes will be submitted to shareholders for approval at an upcoming extraordinary general meeting on December 15, 2025.