Hangang Holdings (01663): Affiliated signed a project repayment agreement with High Energy Construction

According to Zhitong Finance App, Hangang Holdings (01663) issued an announcement. On August 25, 2026 (after the trading period), our subsidiary Jiangxi Ganghong Industrial Co., Ltd. (Jiangxi Ganghong) and our subsidiary Leping Runfeng Real Estate Development Co., Ltd. (Leping Runfeng) signed a project repayment agreement with an independent third party construction contractor Jiangxi High Energy Construction Engineering Co., Ltd. (High Energy Construction).

According to the agreement, Hi-Energy Construction has conditionally agreed to accept the repayment of a construction project provided by Gaoneng Construction to provide services to Jiangxi Gangfeng, but the balance of the contract that has not yet been paid is about RMB 65 million. The balance of the unpaid contract will be repaid in instalments according to the payment schedule set out in the agreement, and the final instalment will expire in December 2029. As a guarantee for timely payment of the unpaid balance of the contract, Leping Runfeng has mortgaged the land use rights of the land located in Leping City, Jiangxi Province, China to high-energy construction. After the payment obligation under the agreement is fully and on time, the debt represented by the unpaid balance of the contract will be fully settled, and the collateral will also be released in accordance with the terms of the relevant guarantee documents.

The Company is making ongoing efforts to prepare funds to repay outstanding contract balances. The Board of Directors of the Company believes that the mortgage will not have any significant adverse effect on the Group's business or operations.