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Shijiazhuang Shangtai Technology Guarantees Malaysia Subsidiary's 52.5-Million-Yuan Obligation

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Shijiazhuang Shangtai Technology (SHE:001301) provided a joint liability guarantee for Malaysian unit Shangtai Technology Malaysia covering the 52.5-million-yuan contract with FHL Construction.

The guarantee supports the electromechanical turnkey project for Plant Two of Shangtai Technology Malaysia's 50,000-ton-per-year lithium-ion battery anode material plant.

The guarantee period runs until one month after the final payment due date. Total outstanding guarantees now stand at 825.4 million yuan.

Shares of the lithium-ion battery anode material manufacturer were down 2% in recent trade.

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