CCOOP Group subsidiary signs financial services agreement; guarantees loans

CCOOP Group (SZSE:000564) announced that its holding subsidiary, Beijing New Cooperative Commercial Development, plans to sign a financial services agreement with Supply and Marketing Group Finance Co., Ltd. The agreement encompasses deposit services (up to CNY 100 million daily balance), settlement services, credit facilities (up to CNY 300 million), and "New Network Project" fund management. This constitutes a related-party transaction as China Supply and Marketing Group Co., Ltd., CCOOP's actual controller, fully owns Supply and Marketing Group Finance. CCOOP will also apply for guarantees for its subsidiaries. The total guarantee amount is planned for CNY 4.3 billion. CCOOP also plans to ask shareholders to approve guarantees for its holding subsidiaries and plans to grant intercompany guarantees for its subsidiaries.