Skshu Paint guarantees subsidiary; shareholder reduces pledge

** Skshu Paint (SSE:603737) announced it will provide financial guarantees to its wholly-owned subsidiary, Fujian Skshu New Materials Co., Ltd. (referred to as "Xiuyu Skshu"), amounting to RMB 9.2 million. Specifically, Skshu Paint signed a guarantee contract with the Putian Licheng branch of the Industrial and Commercial Bank of China (ICBC) for RMB 2 million and a maximum guarantee contract with the Putian Licheng branch of China Construction Bank (CCB) for RMB 7.2 million. As of the disclosure date, Skshu Paint has already provided guarantees totaling RMB 1.057 billion for Xiuyu Skshu.