Sinomine subsidiary guarantees $300m credit line for parent company

Sinomine Resource Group Co. announced that its wholly-owned subsidiary, Jiangxi Sinomine New Material Co., will provide a guarantee for the company's RMB30,000.00万元 comprehensive credit facility with China Merchants Bank Co., Beijing Branch. The credit line has a term of three years and amounts to RMB30,000.00万元.

This guarantee falls within the RMB490,000.00万元 total guarantee limit approved by the company's 2024 annual shareholders' meeting for Jiangxi Sinomine New Material. Following this transaction, Jiangxi Sinomine New Material's total guarantee for the company will be RMB260,000.00万元, remaining within the approved limit. As of the announcement date, the company's total external guarantees, including this one, amount to RMB442,000.00万元, representing 36.29% of its net assets as of December 31, 2024.

The company has no overdue guarantees, no guarantees involved in litigation, and no losses from guarantees being ruled against in court. This move is intended to support the company's daily operations and business development, aligning with its strategic goals and benefiting overall shareholder interests.