Tianshan Co., Ltd.: It is intended to apply to China Building Materials Shares to increase a loan quota of not more than 10 billion yuan

Author:Capital state Time:2022.07.27

On the evening of July 27, 2022, the A -share company Tianshan (000877.SZ) announced that in order to meet the financing needs of companies and subsidiaries, improve financing efficiency, and save financial expenses. Entrusted loans and other forms to apply to China Building Materials Co., Ltd. ("China Building Materials Co., Ltd.") applications to increase the loan quota of not more than RMB 10 billion, for returning loans to expired loans, supplementary mobile funds, etc.

This loan is to meet the operating capital needs of the company and subsidiaries, improve the efficiency of the company's funds, and reduce the cost of capital, which is conducive to the company's main business development.

The unsecured mortgage and no guarantee of this affiliated transaction followed the principles of fairness and reasonableness, and the decision -making procedures were strictly carried out in accordance with the company's articles of association. This borrowing interest rate is not higher than the average interest rate of the company's loan in the same period during the same period of financial institutions. The interest rate counting method is calculated in accordance with the actual number of days of the loan. There is no case that harms the interests of the company and shareholders, especially small and medium shareholders.

This affiliated transaction will not have a significant impact on the financial status, business results and independence of the company and subsidiaries. The company's main business will not rely on the affiliated transactions to rely on the affiliated transactions.

Note: From the beginning of 2022 to this announcement date, the company borrowed 8.6 billion yuan from China Building Materials Shares; as of now, the company's borrowing balance from China Building Materials shares was 36.1 billion yuan.

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