Xiamen Port Authority Development Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without any false records, misleading statements, or significant omissions.
Special Risk Warning: The total external guarantees provided by Xiamen Port Authority Development Co., Ltd. and its wholly-owned subsidiaries in 2026 (all guarantees are either by the Company for its subsidiaries or by subsidiaries for their subsidiaries) are expected to exceed 100% of the most recent audited net assets. This progress announcement involves providing guarantees for controlling subsidiaries with an asset-liability ratio exceeding 70%. After this guarantee, the Company's total external guarantee balance will exceed 50% of the most recent audited net assets. This guarantee is within the expected annual guarantee limit, with no new guarantees involved; it does not involve guarantees for entities outside the consolidated financial statements. Investors are advised to pay full attention to guarantee risks.
1. Overview of Guarantee Situation
(1) Internal Decision-Making Procedure for Guarantee Matters
Xiamen Port Authority Development Co., Ltd. held the 17th meeting of the 8th Board of Directors on November 28, 2025, and the second extraordinary general meeting of shareholders for 2025 on December 15, 2025, to review and approve the proposal on the guarantee limit for wholly-owned subsidiaries in 2026. The Company agreed to continue providing guarantees for its wholly-owned subsidiary, Xiamen Port Trade Co., Ltd., and its wholly-owned subsidiaries in 2026. The total guarantee amount is expected to not exceed 655 million RMB, primarily covering bank credit (including but not limited to loans, letters of guarantee, letters of credit, bank acceptance bills, foreign exchange, and financial derivatives) and performance guarantees. The guarantee period is from the date of approval by the general meeting of shareholders until December 31, 2026. Among these, the guarantee amount for wholly-owned subsidiaries with an asset-liability ratio exceeding 70% is 655 million RMB. For detailed information, please refer to the announcement titled "Announcement on the Expected Guarantee Limit for Wholly-Owned Subsidiaries in 2026" published by the Company on November 29, 2025, in the Securities Times, China Securities Journal, and the Giant Tide Information Network.
On February 9, 2026, the Company held the 19th meeting of the 8th Board of Directors and approved the proposal for Xiamen Port Trade Co., Ltd. to provide performance guarantees for its wholly-owned subsidiary, Xiamen Port Haiheng (Hong Kong) Co., Ltd., for procurement business with ADMINTERNATIONAL SARL in 2026. The guarantee method is joint liability, with a guarantee amount not exceeding 25 million RMB, effective from January 1, 2026, to December 31, 2026. This guarantee is for a subsidiary with an asset-liability ratio exceeding 70%. For detailed information, please refer to the announcement titled "Announcement on Xiamen Port Trade Co., Ltd. Providing Guarantees for Its Wholly-Owned Subsidiary in 2026" published by the Company on February 10, 2026, in the Securities Times, China Securities Journal, and the Giant Tide Information Network.