Shenma Co., Ltd. announced that the company holds 60% of the shares of Zhongping Shenma Jiangsu New Material Technology Co., Ltd. and is its controlling party. Jiangsu's loan of 80 million yuan for new materials expired in November 2025 and is currently applying for a renewal period of one year. The company plans to provide it with a joint liability guarantee of 48 million yuan according to the shareholding ratio, and Nantong Pengfa will provide a 32 million yuan guarantee according to the shareholding ratio. On December 5, 2025, the fourth meeting of the 12th board of directors of the company reviewed and passed the bill, which still needs to be submitted to the shareholders' meeting for approval. As of the announcement date, the total external guarantees of the company and its holding subsidiaries were 5.128 billion yuan, accounting for 71.59% of the latest audited net assets.

Shenma Co., Ltd. announced that the company holds 60% of the shares of Zhongping Shenma Jiangsu New Material Technology Co., Ltd. and is its controlling party. Jiangsu's loan of 80 million yuan for new materials expired in November 2025 and is currently applying for a renewal period of one year. The company plans to provide it with a joint liability guarantee of 48 million yuan according to the shareholding ratio, and Nantong Pengfa will provide a 32 million yuan guarantee according to the shareholding ratio. On December 5, 2025, the fourth meeting of the 12th board of directors of the company reviewed and passed the bill, which still needs to be submitted to the shareholders' meeting for approval. As of the announcement date, the total external guarantees of the company and its holding subsidiaries were 5.128 billion yuan, accounting for 71.59% of the latest audited net assets.