Youngor fashion subsidiary secures 20 million yuan credit guarantee

Youngor Fashion announced that its indirect wholly-owned subsidiary, Anhui New Ya New Materials (Anhui New Materials), has signed a comprehensive credit agreement with China Minsheng Banking Corp. Hefei Branch for a credit line of 20 million yuan over one year. Anhui New Hao Textile Technology (New Hao Textile), a direct holding subsidiary of Youngor Group and the parent of Anhui New Materials, provided a joint and several liability guarantee for this facility. The guarantee period is three years from the debt maturity date.

This guarantee is crucial for Anhui New Materials' operational needs, enhancing its creditworthiness with financial institutions. The current guarantee amount of 20 million yuan contributes to a total outstanding guarantee balance of 205 million yuan for Anhui New Materials, excluding this latest transaction. As of the announcement date, the total external guarantee amount for Youngor Group and its controlled subsidiaries is 725.54 million yuan, representing 1.76% of the company's most recent audited net assets.

The company's guarantees include 45.04 million yuan for controlled subsidiaries (0.11% of net assets), 470 million yuan for inter-subsidiary guarantees (1.14% of net assets), and 210.50 million yuan for joint ventures and associates (0.51% of net assets). No overdue guarantees or guarantees involving litigation were reported, nor has the company provided guarantees for shareholders, actual controllers, or their related parties.