Zhejiang Longsheng guarantees subsidiaries up to RMB 25.79bn

Zhejiang Longsheng Group (SSE: 600352) announced it will provide guarantees for its wholly-owned subsidiaries, including Zhejiang Longsheng Dyestuff Chemical Co., Ltd., Zhejiang Hongsheng Chemical Co., Ltd., Zhejiang Anor Aniline Chemicals Co., Ltd., Zhejiang Keyong Chemical Co., Ltd., Zhejiang DSD Trading Co., Ltd., Shaoxing Shangyu Jin Guan Chemical Co., Ltd., and Hangzhou Longshan Chemical Co., Ltd. The maximum guarantee amount reaches RMB 25.79 billion. The guarantees will cover the principal, interest, and related expenses. As of March 19, 2025, the actual outstanding guarantee balances for these subsidiaries were approximately RMB 69.98 billion. The company's board of directors approved the guarantee plan, noting that although Zhejiang Dyeing and Chemical recorded losses in the first three quarters of 2024 and Hangzhou Longshan had losses in 2023 and the first three quarters of 2024, the company's current operations are normal and controllable, and the overall guarantee risk is manageable.