SF Holding Updates Debt-Financing Mandate, Adds New Issuers and Confirms Up-to-CNY 50 Billion Guarantee

On 30 March 2026, SF Holding (HKEX: 06936; Shenzhen: 002352) announced that its seventh-term board of directors at the fourth meeting approved revisions to the company’s general mandate for issuing debt-financing instruments. The proposal will be submitted to the upcoming shareholders’ meeting for final approval.

Key changes to the mandate are:

1. Broader pool of issuers • Previous plan (approved in December 2025) permitted only two wholly owned subsidiaries—Shenzhen SF Tyson Holdings (Group) Co., Ltd. and SF Holding Global 2026 Limited—to raise funds. • The revised mandate now allows SF Holding itself, the two original subsidiaries, and any other existing or future wholly owned offshore subsidiaries to act as issuers.

2. Unified guarantee structure • Under the initial authorization, Shenzhen SF Tyson planned unsecured issues, while SF Holding guaranteed up to CNY 50.00 billion for SF Holding Global 2026 Limited. • The updated plan enables SF Holding to provide guarantees, where required, for any issuing entity within the same cumulative cap of CNY 50.00 billion (approximately USD 6.90 billion at current exchange rates).

Unchanged terms include: • Total funding ceiling: up to CNY 150.00 billion through domestic and offshore instruments such as corporate bonds, medium-term notes, short-/ultra-short-term commercial papers and other debt products; offshore quota limited to CNY 50.00 billion. • Currency options: RMB, HKD, USD or other major currencies. • Tenor: up to 30 years, with flexibility for single or mixed tranches and embedded options. • Use of proceeds: to replenish working capital, refinance or optimize existing debt, and other lawful purposes. • Mandate validity: 24 months from shareholder approval, automatically extended until completion if regulatory clearance is obtained within that period.

The board reiterated that the adjustments aim to improve financing flexibility, capture market opportunities more effectively and strengthen debt management without altering the aggregate fundraising limits previously approved.