Foran Energy provides a guarantee of USD 6.9 million for its subsidiary, progress disclosed

Foran Energy released a progress announcement regarding the provision of guarantees for its subsidiaries. Previously, the company's shareholders' meeting approved a total shared guarantee limit of no more than 1.8 billion yuan for Foshan Huayuan Energy and other subsidiaries to carry out hedging business. Recently, the company issued a letter of guarantee to Standard Chartered Bank, providing a maximum joint liability guarantee of 6.9 million USD for Foshan Huayuan Energy to conduct foreign exchange and financial derivative transactions, covering the previous letter of guarantee. The guarantee limit for Foshan Huayuan Energy remains at 6.9 million USD before and after this guarantee, with approximately 1.503 billion yuan of available guarantee limit remaining. Foshan Huayuan Energy provides counter-guarantees for the company, and its financial condition is good, with no record of being an untrustworthy executor. As of the announcement date, the company has accumulated external guarantee limits of nearly 3 billion yuan, with an actual balance ratio of 13.77%, and no overdue guarantee risks