Antong Holdings guarantees $21m loan for subsidiary

Antong Holdings (SSE:600179) announced it will guarantee a 150 million RMB (approximately $21 million USD) fixed asset loan for its wholly-owned subsidiary, Antong East China Logistics, from Bank of China. As of the announcement date, the outstanding guarantee amount provided by the company to Antong East China Logistics is 30 million RMB. The guarantee period extends three years after the loan’s maturity date. This guarantee aligns with the company's approved 410 million RMB guarantee limit for its subsidiaries. As of the end of 2023, the total outstanding external guarantees by Antong Holdings for its subsidiaries' daily operations are 264.16 million RMB, representing 26% of the company's net assets attributable to shareholders.