Angel Yeast guarantees $100m yuan loan for subsidiary expansion

Angel Yeast Co. Ltd. is providing a guarantee for a loan of 100 million yuan to its controlled subsidiary, Angel Yeast (Liuzhou) Co. Ltd. The loan, from the Guangxi Zhuang Autonomous Region branch of China Development Bank, is intended to support the subsidiary's business development. This guarantee aligns with the company's previously approved 2025 annual guarantee forecast.

As of the announcement date, Angel Yeast's total external guarantees, including this transaction, amount to 306 million yuan, representing 28.26% of the company's most recent audited net assets. The guarantee is a joint liability with a term of three years from the maturity date of the primary contract's debt.

Angel Yeast (Liuzhou) Co. Ltd. reported total assets of 121,335.88 million yuan and net assets of 48,298.60 million yuan as of June 30, 2025 (unaudited). In 2024, the subsidiary recorded a net profit of 16,696.69 million yuan.

The company's board believes this guarantee is necessary and reasonable, as the subsidiary's stable operations and good credit minimize risk, contributing to its sustainable development and the parent company's overall profitability. As of the disclosure date, the company's guarantees for controlled subsidiaries totaled 490 million yuan and $11.11 million. There are no overdue guarantees.