Red Avenue New Materials advances financing guarantees

Red Avenue New Materials Group (SSE:603650) has released an announcement detailing the progress of its annual expected financing guarantees. The company is providing a guarantee of CNY 100 million for Huaki Chemical, bringing the total guarantee balance for Huaki Chemical to CNY 100 million. Additionally, the company's subsidiary, Tongcheng Chemical, is providing a guarantee of CNY 80 million for Huaki Chemical, increasing its total guarantee balance for Huaki Chemical to CNY 60 million. Red Avenue New Materials is also guaranteeing CNY 60 million for its subsidiary, Red Avenue Electronic Materials, bringing the total guarantee balance for Red Avenue Electronic Materials to CNY 102.694 million. The guarantees are intended to support the operational needs and development of the subsidiaries. As of the announcement date, the company has no overdue external guarantees.