Zhuangyuan Pasture to guarantee subsidiary's business deals

Lanzhou Zhuangyuan Pasture (SZSE:002910) announced that it intends to provide a guarantee for its wholly-owned subsidiary, Lanzhou Zhuangyuan Dairy, concerning its business dealings with domestic channel partners. The guarantee is required by the channel partners. The total amount guaranteed is expected to be less than CNY 100 million. The guarantee will become effective upon the signing of the contract between Zhuangyuan Dairy and the channel partners and will last until the contract's termination. As of the disclosure date, the company's outstanding guarantee balance for its subsidiary is CNY 100 million, and after this guarantee, the total amount guaranteed is expected to be less than CNY 200 million, accounting for less than 20% of the company’s latest audited net assets. The board of directors has approved the plan.