Shoukai shares to guarantee CNY 1.56bn for affiliate

Beijing Capital Development (SSE:600376) has announced it will provide a guarantee of CNY 1.5606 billion for Changshu Y茂置业有限公司, a joint venture partly owned by Shoukai through its subsidiaries, to help secure a CNY 3.4 billion development loan from Bank of Communications. The loan will finance the Changshu Smart Science City project. Shoukai's guarantee corresponds to its 45.9% stake in Changshu Y茂. The total value of external guarantees provided by Shoukai and its subsidiaries is CNY 1,702,386.27.