Sichuan Anning Iron and Titanium (SZ:002978) Shang Hai Zheng Quan Bao·2026-02-12 19:33Core Viewpoint - Sichuan Anning Titanium Co., Ltd. and its wholly-owned subsidiary, Panzhihua Anning Mining Co., Ltd., are applying for a total credit facility of 600 million RMB from China Minsheng Bank to support their business operations and meet funding needs [1][3]. Group 1: Credit and Guarantee Overview - The company and its subsidiary plan to apply for a comprehensive credit limit of 600 million RMB, valid for one year [3]. - The company will provide a joint liability guarantee of 300 million RMB for the subsidiary's credit [3]. - The actual credit amount will depend on the bank's approval and the company's operational funding needs [3]. Group 2: Subsidiary Information - Panzhihua Anning Mining Co., Ltd. has a registered capital of 280 million RMB and was established on August 17, 2020 [4][5]. - As of September 30, 2025, the subsidiary's total assets were approximately 2.08 billion RMB, total liabilities were about 628 million RMB, and net assets were around 1.45 billion RMB [5]. - The subsidiary is not a dishonored executor and has a credit rating of AA+ [5][6]. Group 3: Board of Directors' Opinion - The board believes that the credit application and guarantee will help meet the funding needs of the units and improve capital efficiency [7]. - The board confirmed that the approval complies with relevant laws and regulations and will not adversely affect the company's operations [7]. - The subsidiary's asset status is good, and its operational situation is stable, ensuring the company's ability to manage risks during the guarantee period [7]. Group 4: Guarantee Details - As of the announcement date, the total amount of guarantees provided by the company for subsidiaries is approximately 1.25 billion RMB, with the new guarantee representing 19.08% of the company's latest audited net assets [8].