Xinhu Zhongbao plans $3.4bn in subsidiary guarantees

Xinhu Zhongbao (SSE: 600208) announced plans to provide total guarantees of up to RMB 26 billion to its subsidiaries in 2025. This includes RMB 21 billion for 31 controlled subsidiaries and RMB 5 billion for 3 joint ventures. As of the date of the announcement, the company's outstanding external guarantees totaled RMB 21.485 billion, not including cross-border guarantees for dollar bonds. The guarantees for subsidiaries will be reviewed and approved at an upcoming shareholders' meeting. The board of directors believes this decision will help enhance company operations.