I. Overview of the Guarantee
Guangdong Xianglu Tungsten Co., Ltd. (hereinafter referred to as the "Company") held the second extraordinary meeting of the fifth Board of Directors on March 31, 2026, and the 2025 Annual General Meeting on April 22, 2026. The "Proposal on the Company and its Holding Subsidiaries Applying for Financing Quotas from Banking Institutions, Providing Guarantees, and Accepting Guarantees from Related Parties" was reviewed and approved. The Company and its holding subsidiaries were authorized to conduct credit and financing business with banking institutions, applying for a total quota not exceeding 3.5 billion RMB (inclusive), with a term of one year starting from the date of approval by the 2025 Annual General Meeting. The Company is authorized to provide financing guarantees through guarantees, or by using its own assets or investment properties for mortgage or pledge.
II. Progress of the Guarantee
Recently, the Company signed a "Maximum Guarantee Contract" with the Ganzhou Branch of China Guangfa Bank Co., Ltd. (hereinafter referred to as "Guangfa Bank"). The Company provides a joint liability guarantee for a series of credit businesses conducted by its wholly-owned subsidiary, Jiangxi Xianglu Tungsten Co., Ltd., with Guangfa Bank from August 6, 2026, to July 12, 2027, with a maximum principal balance of 60 million RMB.
This guarantee matter is within the guarantee quota approved by the General Meeting of Shareholders.
III. Basic Information of the Guaranteed Party
- Basic Information