Dajin Heavy Industry affiliates secure significant bank credit guarantees

Dajin Heavy Industry Corporation (DHIC) has announced significant progress in securing credit facilities for its subsidiaries, approved under a 2025 mandate allowing for up to 20 bn yuan in mutual guarantees. Recently, DHIC's wholly-owned subsidiary, Penglai Dajin Offshore Heavy Industry Co., Ltd., applied for a comprehensive credit facility of up to 500m yuan from the Beijing Bank Yantai Branch, fully guaranteed by DHIC.

Additionally, Zhangjiakou Dajin Wind Power Equipment Co., Ltd., another wholly-owned subsidiary, sought up to 80m yuan in comprehensive credit from China Merchants Bank Dalian Branch, also with a full guarantee from DHIC. Zhangjiakou Dajin also applied for up to 150m yuan in comprehensive credit from Industrial Bank Beijing Financial Street Branch, again fully guaranteed by DHIC. Another subsidiary, Xing'an League Dajin Heavy Industry Co., Ltd., applied for up to 80m yuan from China Merchants Bank Dalian Branch, also fully guaranteed by DHIC.

Tangshan Fengnan Yingjing New Energy Co., Ltd., a wholly-owned subsidiary, applied for a fixed asset loan of up to 920m yuan from China Construction Bank Tangshan Caofeidian Free Trade Zone Sub-branch, with a loan term of 180 months. Yingjing New Energy provided pledge guarantees with its electricity fee collection rights upon project completion, and DHIC provided full joint liability guarantees for this loan. As of the announcement date, DHIC and its subsidiaries' total guarantee balance reached 16,265,401,900 yuan, with guarantees for subsidiaries alone accounting for 16,253,465,500 yuan, representing 223.51% of the company's 2024 audited net assets.