Guolian Aquatic provides guarantees for subsidiary, Guolian Yiyang

Zhanjiang Guolian Aquatic Products (SZSE:300094) has announced it will provide guarantees for its subsidiary, Guolian (Yiyang) Foods, to support business development. Specifically, Guolian Aquatic and Yiyang Gaoxin Agricultural Development, a shareholder of Guolian Yiyang, will provide 100% joint liability guarantee for a CNY 8.5 million working capital loan obtained by Guolian Yiyang from Yiyang Rural Commercial Bank. Guolian Aquatic's subsidiaries will provide a counter-guarantee to Yiyang Gaoxin Agricultural Development. Additionally, Guolian Aquatic will also guarantee a CNY 4 million working capital loan obtained by Guolian Yiyang from Hunan Bank, with Hunan Qingxi Cultural Tourism Development Group providing a 40% guarantee. This increases Guolian Aquatic's total external guarantee balance to CNY 49.44 million, representing 26.97% of its latest audited net assets. All guarantees are for wholly-owned or controlled subsidiaries.