Tibet Rhodiola guarantees 20.8bn yuan subsidiaries' bank credit

Tibet Rhodiola Pharmaceutical Holding provided guarantees totalling 20.78 billion yuan for subsidiaries Tibet Nordic Kang Pharmaceutical Sales and Tibet Nordic Kang Pharmaceutical.

The guarantees include 10.78 billion yuan for the sales unit with Bank of China and 10 billion yuan for the pharmaceutical unit with CITIC Bank. The sales subsidiary has an asset-liability ratio exceeding 70%.

The company's total external guarantees amount to 800 million yuan, representing 20.24% of its latest audited net assets.