Wellhope Agri-Tech provides $1m guarantee to subsidiary
Liaoning Wellhope Agri-Tech (SSE:603609) announced it is providing a guarantee of RMB 10 million to Daqing Wellhope Animal Husbandry Co., Ltd., a subsidiary. As of January 31, 2025, the outstanding guarantee amount for Daqing Wellhope Animal Husbandry was RMB 10 million. The guarantee falls within the approved amount authorized by shareholders at the 2023 annual meeting and subsequent extraordinary general meetings in 2024. As of the end of January 2025, Wellhope Agri-Tech's total outstanding guarantees amounted to RMB 728 million, representing 10.93% of the company's audited net assets at the end of 2023. The company states that the guarantee is for the subsidiary's operational needs and poses a controllable risk.
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