Zhuhai Port backs subsidiary's loan, boosts funds with wealth management

Zhuhai Port Company Limited announced board approval for a guarantee on a project loan for its indirectly wholly-owned subsidiary, Tianchang Juhe Wind Power Generation. Tianchang Juhe plans to apply for a loan of up to 146,000,000 yuan from China Merchants Bank Co. Hefei Branch, with a seven-year term, to replace existing project loans. The guarantee involves pledging all project revenues and 100% equity in Tianchang Juhe.

The board also approved the use of up to 800,000,000 yuan in idle funds for wealth management. This amount will not exceed 50% of the company's net audited assets over a continuous 12-month period. These funds will be invested in low-risk wealth management products from commercial banks, bank wealth management subsidiaries, and securities companies. Both resolutions were unanimously approved, indicating a strategic push to enhance asset utilization and support the new energy sector.

Following this guarantee, Zhuhai Port and its holding subsidiaries' total external guarantees will amount to 2,766,383,000 yuan, representing 41.76% of the company's latest audited net assets. Guarantees provided to consolidated entities will total 1,922,677,000 yuan, constituting 29.03% of the latest audited net assets. There are no overdue guarantees or guarantees involved in litigation.