Shaoneng Group to guarantee subsidiary's 492.7m yuan loan

Guangdong Shaoneng Group announced that its board of directors approved a bank syndicate loan application of 492,714,750 yuan by its controlled subsidiary, Shaoneng Group Wengyuan Zhineng Biomass Power Generation Co., Ltd. The Group will provide a joint liability guarantee up to 394,171,800 yuan, proportional to its 80% equity stake, with the subsidiary providing pledge guarantees using its accounts receivable.

This resolution will be presented for shareholder approval at the fifth interim general meeting of 2025, scheduled for December 29, 2025. The announcement also details a separate approval for Shaoneng Group Xinfeng Xuneng Biomass Power Generation Co., Ltd., a wholly-owned subsidiary, to apply for a comprehensive credit line of 30,000,000 yuan from Everbright Bank.

As of September 30, 2025, Shaoneng Group's total external guarantees, excluding the proposed Zhineng Company guarantee, stood at 3,405,327,800 yuan, representing 67.13% of its net assets attributable to the parent company. Including the new guarantee, the total external guarantees will reach 3,799,499,600 yuan, or 74.90% of net assets, all directed towards its controlled subsidiaries, wholly-owned subsidiaries, and sub-subsidiaries.