China Xuyang group (01907. HK) announced that on January 22, 2022, Xuyang group, a wholly-owned subsidiary of the company, and Hebei Xuyang energy entered into a guarantee agreement. Accordingly, Xuyang group and Hebei Xuyang energy will guarantee the obligations of the company’s joint venture Xuyang zhongran (as the borrower) under a loan contract, which was entered into by Xuyang zhongran and China Everbright Bank Company Limited Co.Ltd(601818) . The loan amount under the loan is RMB 80 million, and the maximum payment obligation expected to be undertaken by the group under the guarantee is RMB 84.4 million.
Taking into account the sixth loan / guarantee (that is, the sixth loan / guarantee provided by the group for the investment and construction of the same new coking project of Xuyang zhongran, and the first to fifth loans / guarantees are provided for the project), the cumulative loan and guarantee obligations assumed by the group in the first to sixth loans / guarantees are up to about RMB 1234.5 million.
