Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-09-09 22:43Core Viewpoint - China CNR Corporation Limited (referred to as "the company") has established a joint venture with Comporte Participações S.A. for the Intercity Railway North Axis PPP project in São Paulo, Brazil, with a shareholding ratio of 40% to 60% [1] Financing Guarantees - The Hong Kong subsidiary of the company plans to provide financing guarantees to the Brazilian project company, totaling approximately RMB 339 million, with a maximum term of 18 months [2][8] - The financing includes a bridge loan of up to RMB 452 million from the Industrial and Commercial Bank of China at a fixed interest rate of 2.95% [2] - Additionally, the Brazilian project company intends to issue bonds worth 300 million Brazilian Reais (approximately RMB 395 million) at a floating interest rate of DI + 2.50% [2] Internal Decision-Making Process - The company's board of directors held a meeting on September 9, 2025, where the financing guarantee proposal was unanimously approved [2][3] Basic Information of the Guaranteed Party - As of June 30, 2025, the guaranteed party is still in the early stages of establishment and has not commenced substantial operations [4] Guarantee Agreement Status - The guarantee agreement has not yet been signed, and its main terms will be determined upon signing [7] Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary for the operation of the Brazilian project, with risks considered controllable [7][8] Cumulative External Guarantee Situation - As of the announcement date, the total external guarantees provided by the company and its subsidiaries amount to RMB 589.06 billion, accounting for 34.90% of the audited net assets as of December 31, 2024 [9]