Energy-Saving TIEHAN announced that, to advance a major asset restructuring and meet daily operational funding needs, the company plans to extend the 1.166 billion yuan loan originally obtained from its controlling shareholder, China Energy Conservation and Environmental Protection Group, for a period not exceeding one year. The interest rate will not exceed the corresponding Loan Prime Rate, currently 3.0 percent, with certain extensions secured by relevant asset pledges from the company. The matter has been approved by the board of directors, with connected directors abstaining from voting, and still requires submission to the shareholders' meeting for deliberation. From the beginning of 2026 to the disclosure date of the announcement, the total amount of various connected transactions between the company and the controlling shareholder has reached 4.704 billion yuan. The company has been incurring losses in recent years, with total losses from 2021 to 2025 amounting to nearly 7.4 billion yuan. As of the end of the first quarter of 2026, its asset-liability ratio stood at 96.38 percent.
CECEP Techand Ecology&Environment Co LtdCompany extends loan from controlling shareholder, has high debt ratio and persistent losses.