Baiyin Nonferrous (SHA:601212) plans to apply to a bank to issue a performance guarantee of up to 30.0 million yuan and an advance payment guarantee of up to 89.9 million yuan for subsidiary Hengcheng Machinery.
The guarantees support Hengcheng Machinery's anode and cathode plate supply and related service procurement contracts, with fees borne by the subsidiary, according to a Wednesday filing with the Shanghai bourse.
The move is subject to shareholder approval.
Shares of the non-ferrous metal processor climbed 1% in recent trade.
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