Quzhou Xinan Development provides guarantees for subsidiaries

Quzhou Xinan Development (SSE:600208) announced today it is providing guarantees for subsidiaries. The guarantees include CNY 37 million for Zhejiang Yun Sheng Investment Group, CNY 23 million for Pingyang Weicheng Real Estate, and CNY 97.5 million for Shanghai Yalong Ancient Town Real Estate Development. As of the date of the announcement, the company’s total guarantees, including counter-guarantees, are CNY 289.72 million. Quzhou’s board has already approved guarantees for subsidiaries.