Nanjing Hanrui Cobalt guarantees subsidiaries' credit facilities up to 210m yuan

Nanjing Hanrui Cobalt Co. announced it will provide guarantees for its wholly-owned subsidiaries, Ganzhou Hanrui New Energy Technology Co. and Nanjing Hanrui New Material Co., to secure credit facilities from Ningbo Bank Co., Nanjing Branch.

Ganzhou Hanrui New Energy Technology Co. will receive a maximum of 200 million yuan in open credit, with Nanjing Hanrui Cobalt providing a joint liability guarantee. Nanjing Hanrui New Material Co. will receive up to 10 million yuan in open credit, also fully guaranteed by the parent company. Both guarantees are valid for two years from the maturity date of the principal contracts.

These guarantees align with the company's approved 2025 financing and guarantee limits. The board views these as essential for the subsidiaries' sustainable development, aligning with the interests of the company and its shareholders, with controlled risk given the parent company's full ownership.

As of the disclosure date, the total guarantee amount for the company and its subsidiaries is 615 million yuan, representing 110.96% of the company's net assets as of the 2024 audited figures. The cumulative guarantee amount provided is 232.38 million yuan, or 41.93% of the 2024 net assets. All guarantees are inter-company, with no external guarantees to unconsolidated entities.