Financial Street Holdings guarantees $84k for subsidiary debt

Financial Street Holdings announced it will guarantee debt financing for Langfang Rongfang Real Estate, with the guaranteed amount not exceeding $84,000 USD (0.6 million RMB). This guarantee falls within the approved quota from the company’s 2023 annual shareholders' meeting. As of the announcement date, the total utilized guarantee quota is $1.09 million USD (7.9 million RMB), leaving $9.3 million USD (67.1 million RMB) still available. The company’s board believes the subsidiary has the ability to repay the debt. This guarantee is in compliance with relevant regulations and the company's internal policies on external guarantees.