Nanshan Holding's subsidiary provides joint liability guarantee for the 4.3 billion yuan loan of Tianchi in Changsha.

On September 17, 2025, Nanshan Holdings issued an announcement on the progress of external guarantees. Its wholly-owned subsidiary, Nanshan Real Estate, signed a "Guarantee Contract" with Zhongkai Finance to provide joint liability guarantees for the project financing loan balance of up to 430 million yuan for its wholly-owned subsidiary Changsha Tianchi. As of August 31, Changsha Tianchi's asset-liability ratio was 91.72%. The guarantee this time is within the approved 5.8 billion limit at the annual shareholders' meeting of 2024, with a remaining amount of 3.93 billion after use. As of the announcement date, the total amount of external guarantees provided by the company and its controlling subsidiaries amounted to 32.278 billion yuan, accounting for 364.85% of the audited net assets attributable to the parent in 2024; the guarantees provided to external units in the consolidated financial statements amounted to 3.768 billion yuan, accounting for 42.59%, with no overdue or bad guarantee situations.