Shijiazhuang Shangtai Technology's (SHE:001301) subsidiary, Shangtai (Hong Kong), entered into a loan agreement with the Hebei branch of Bank of Communications (SHA: 601328; HKG: 3328) for 150 million yuan, according to a Shenzhen bourse filing on Friday.
The loan will be used for working capital and carries a credit period of 12 months.
Shijiazhuang will serve as a guarantor for the loan, with a maximum guaranteed claim of 155 million yuan.
Shares of the lithium-ion battery anode material manufacturer fell 3% in afternoon trading.
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