Yuan Longping unit guarantees USD 5m loan

Yuan Longping High-Tech Agriculture (SZSE:000998) announced that its subsidiary, Amazon Agri Biotech HK Limited ("Longping Hong Kong"), has provided a guarantee for a USD 5,000,000 loan to LONGPING HIGH-TECH BIOTECNOLOGIA LTDA. ("Longping Brazil"). The guarantee was made to meet the funding needs of Longping Hong Kong, and the loan draw-down has been completed. The guarantee agreement had been signed prior to Longping Development being consolidated into the company's financial statements, and is within the approved guarantee limit authorized by shareholders. As of the date of announcement, the company and its subsidiaries' outstanding guarantee balance is CNY 266,113.80 thousand. This represents 55.78% of the company's latest audited net assets. All guarantees are for subsidiaries within the consolidated financial statements.