Shaanxi Construction Machinery's (SHA:600984) subsidiary, Shanghai Pangyuan Machinery Leasing, plans to apply for a credit of up to 50 million yuan to fund its daily working needs, according to a Shanghai bourse disclosure on Friday.

The credit will be applied at Bank of China's (SHA:601988, HKG:3988) Pudong branch.

The Chinese machinery producer is required to provide a joint liability guarantee to Pangyuan Machinery for the credit. The guarantee's term is until Sept. 30, 2026.

The company's shares jumped over 5% at the close of the trade.