CITIC Heavy Industries guarantees CNY 100 million finance unit acceptances for engineering subsidiary

• CITIC Limited unit CITIC Heavy Industries disclosed new guarantees for three wholly owned units, including a maximum CNY 100 million joint and several guarantee backing CITIC Heavy Industries Engineering’s acceptance business at CITIC Finance.
• Separate bank guarantee letters were also issued for Automation Engineering and Construction Installation, using CITIC Heavy Industries’ bank credit lines.
• As of disclosure date, outstanding guarantees stood at CNY 395.8 million for Engineering, CNY 13.4 million for Automation, CNY 9.8 million for Construction Installation.
• Total external guarantee capacity, including unused approved limits and outstanding balances, was CNY 1.13 billion, equal to 12.05% of latest audited net assets.
• Overdue off-balance-sheet guarantees totaled CNY 125.6 million, equal to 1.34% of latest audited net assets, tied to litigation involving China Construction Bank Jiangmen branch.

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