Jinli Permanent Magnet (06680) announced that on April 18, 2024, the company received the “Fixed Asset Loan Contract” (hereinafter referred to as the “Loan Contract”) between Jincheng Permanent Magnet and Industrial and Commercial Bank of China Co., Ltd. Ganzhou Zhangjiang Branch (hereinafter referred to as “ICBC” or “creditor”) with the contract number “0151000331- 2023 (Development) No. 00423” (hereinafter referred to as “Loan Contract”), and the company signed a contract number “0151000331-2024 In the “Guarantee Contract” of “Development (Insurance) No. 0019”, the company provided a joint liability guarantee for Jincheng Permanent Magnet. The maximum principal balance of the secured claim under the contract was RMB 200 million. The guarantee period under the guarantee contract is three years from the day after the loan period under the autonomous contract expires. If the creditor announces that the loan expires early in accordance with the agreement in the main contract, the guarantee period is three years from the day after the early maturity date of the loan.
After the guarantee came into effect, the company used up all the guarantee amounts provided by the wholly-owned subsidiary Jincheng Permanent Magnet Finance.