CMSK guarantees Shenzhen Merchants Property loan

China Merchants Shekou Industrial Zone Holdings (CMSK) will provide a joint and several liability guarantee for its wholly-owned subsidiary, Shenzhen Merchants Property Co., Ltd., for a 300 million yuan loan from Industrial Bank Co., Ltd. Shenzhen Branch. The loan has a 15-year term, and CMSK's guarantee, reflecting its 100% equity stake, will cover up to 300 million yuan for three years beyond the loan's maturity.

This guarantee falls within the previously approved quota of 31.6 bn yuan for CMSK's subsidiaries' credit and other business operations, with 15 bn yuan allocated for subsidiaries with asset-liability ratios exceeding 70%. Following this transaction, CMSK's outstanding guarantee balance for subsidiaries will be 22.399 bn yuan, including 9.052 bn yuan for subsidiaries with asset-liability ratios over 70%.

Shenzhen Merchants Property, established in 1984, reported total assets of 49.4838 bn yuan and liabilities of 28.9087 bn yuan as of December 31, 2024. As of November 30, 2025, its total assets were 46.6909 bn yuan, with liabilities of 24.91799 bn yuan. The guarantee is deemed manageable and not expected to adversely affect CMSK's operations.