Zhangyuan Tungsten guarantees subsidiary loans, major shareholder unpledges stock

Chongyi Zhangyuan Tungsten (SZSE:002378) announced progress in providing guarantees for bank loans for its wholly-owned subsidiary, Ganzhou Oukete Tools Technology Company Limited. Following approval on December 13, 2025, the company finalized a "Maximum Guarantee Contract" with the Industrial and Commercial Bank of China, Chongyi Sub-branch, on December 24, 2025. This guarantee covers a maximum principal of 50,000,000 yuan for loans taken by Ganzhou Oukete, valid until December 24, 2028. Additionally, the company previously signed relevant guarantee agreements with China Merchants Bank, Ganzhou Branch, for a 60,000,000 yuan loan on December 16, 2025.

As of the announcement date, Chongyi Zhangyuan Tungsten and its controlling subsidiaries have approved guarantees totaling 400,000,000 yuan, with 400,000,000 yuan currently under existing agreements. The actual utilized guarantee amount stands at 179,000,000 yuan, representing 8.40% of the company's audited net assets for 2024. No overdue or litigated guarantees were reported.

Concurrently, Chongyi Zhangyuan Investment Holdings, the controlling shareholder, unpledged 30,000,000 shares of Chongyi Zhangyuan Tungsten on December 24, 2025. This reduced its pledged shares from 370,330,000 to 340,330,000, decreasing the pledged proportion of its holdings from 54.34% to 49.94%, and the proportion of the company's total share capital from 30.83% to 28.33%. The controlling shareholder maintains good credit, and its pledged shares do not pose any risk to the company's operations or governance.