RiseSun to guarantee CNY 429.11m in subsidiary financing

RiseSun Real Estate Development (SZSE:002146) announced it will provide guarantees for financing to its subsidiaries, including Changsha Rongfeng Real Estate Development Co., Ltd. and Zhuzhou Rongsheng Real Estate Development Co., Ltd. The total guarantee amount will not exceed CNY 40 million for Changsha Rongfeng's continued cooperation with China Bohai Bank Changsha Branch. As of the announcement date, the total actual guarantee amount is CNY 429.11 million, representing 288.87% of the company's latest audited net assets. The guarantees for entities outside the consolidated statements amount to CNY 85.40 million, accounting for 57.49% of the latest audited net assets. The company is reminding investors to pay attention to guarantee risks.