RiseSun to guarantee subsidiary financing up to 12m CNY

RiseSun Real Estate Development (SZSE:002146) announced it will guarantee up to 12 million yuan for Chuzhou Ronghua Real Estate, a subsidiary, in its ongoing business dealings with China Guangfa Bank’s Chuzhou branch. The guarantee has a term of up to 48 months. Additionally, RiseSun’s subsidiary, Nanjing Rongsheng Kanglv Tourism Development, will also provide a joint liability guarantee for the financing. As of the disclosure date, RiseSun's total outstanding guarantees stand at 436.74 million yuan, representing 185.13% of the company's latest audited net assets. Guarantees for entities outside the consolidated statements amount to 75.75 million yuan, or 32.11% of the latest audited net assets. Overdue guarantees total 31.43 million yuan.