Angel Yeast guarantees RMB 100m for Chifeng subsidiary

Angel Yeast Co. Ltd. has provided a guarantee of RMB 100 million for its wholly-owned subsidiary, Angel Yeast (Chifeng) Co. Ltd., to support its business development. This guarantee is for a loan agreement signed with China Construction Bank Corporation, Chifeng Branch. The total outstanding guarantee provided by Angel Yeast for Chifeng Company now stands at RMB 300 million.

The guarantee was approved by the company's ninth board of directors and subsequently by the 2024 annual general meeting of shareholders. This action falls within the company's projected 2025 annual external guarantee limit of RMB 3 billion, which represents 27.70% of the company's latest audited net assets.

As of the announcement date, the total external guarantee amount for the company and its controlled subsidiaries is RMB 3.06 billion, accounting for 28.26% of the company's latest audited net assets. The company has confirmed that there are no overdue guarantees. This guarantee is deemed necessary and reasonable to support Chifeng Company's stable operations and sustainable development, without negatively impacting the company's financial health or shareholder interests.