GCL Energy Branch (002015): Holding subsidiary and cooperative shareholder Huaguang Co., Ltd. provide joint guarantee for its Ninggao gas turbine

GCL Energy (stock code: 002015)), a shareholding company, Nanjing Ninggao GCL Gas Turbine Thermal Power Co., Ltd.) recently applied to the Jiangsu Branch of China Development Bank for a medium- and long-term loan with a total amount of not more than RMB 870 million. The company's holding subsidiary GCL Smart Energy Co., Ltd. and Wuxi Huaguang Boiler Co., Ltd., its partner shareholder, jointly provide a joint liability guarantee for it. Among them, GCL Smart Energy guarantees a ratio of 48.80%, that is, the guarantee amount does not exceed 424.56 million yuan. The project will be put into operation. After power generation, normal operation, the pledge of toll rights, and the mortgage of project land, plant, equipment, and pipeline assets, the guarantee is released.　　 During the construction period of the Ninggao gas turbine project, the company plans to undertake joint and several guarantee responsibilities for the financing of the project company in accordance with the control ratio of 48.80:51.20 with Huaguang. As of the disclosure date of this announcement, the total external guarantees of the company and its holding subsidiaries (including the amount of guarantees) totaled RMB 15.12637 million, accounting for 2831.88% of the net assets of the audited consolidated statements in 2018, and accounting for the net assets of the 2018 pro forma consolidated statements. The proportion of assets was 373.97%, which accounted for 321.41% of the net assets in the consolidated statement on September 30, 2019. The accumulated external guarantee balance of the company and its holding subsidiaries is RMB 8,874,846,800. Article keywords: 　GCL Energy Branch Xiake Environmental Textile Stocks Latest Announcement