HaiXin extends private placement, secures new credit facilities

Beijing HaiXin New Energy Technology Co., Ltd. is extending the validity of its 2024 private placement resolution by 12 months, from December 26, 2025, to December 25, 2026. This extension, approved by the board and pending shareholder approval, aims to ensure the continuity of the planned RMB 280 million private placement. Funds from this placement are intended to upgrade the Shandong Sanju 400,000 tons/year bioenergy project and supplement working capital.

Additionally, the company’s subsidiary, Shandong Sanju Bioenergy Co., Ltd., is set to utilize a supply chain financing facility of up to RMB 67 million from Beijing Haidian State-owned Investment Group Co., Ltd. with Bank of Communications. A fee of 1% of the actual utilization amount, not exceeding RMB 670,000, will be paid. Haidian State-owned Investment Group will also provide a joint liability guarantee for a working capital loan of up to RMB 10 million from China Construction Bank, with Shandong Sanju paying a guarantee fee of 0.5% (not exceeding RMB 50,000).

Furthermore, Shandong Sanju plans to secure up to RMB 50 million in financing from Rizhao Bank, with Haidian State-owned Investment Group also providing a joint liability guarantee of up to RMB 50 million, for which Shandong Sanju will pay a guarantee fee of 0.5% (not exceeding RMB 250,000). These financing and guarantee arrangements, approved by the board, are designed to broaden the company's financing channels and optimize its financial structure.