RiseSun to guarantee CNY 57m in subsidiary financing

RiseSun Real Estate Development (SZSE:002146) announced it will guarantee up to CNY 57 million for its wholly-owned subsidiary, Langfang Development Zone RiseSun Real Estate Development, to support its financing activities with China Construction Bank. The guarantee period will not exceed 60 months, and the subsidiary will provide mortgage guarantees using its own assets. As of the announcement date, RiseSun's total outstanding guarantees amount to CNY 44.812 billion, representing 301.66% of the company's latest audited net assets. Guarantees provided to entities outside of consolidated financial statements stand at CNY 8.54 billion, accounting for 57.49% of the latest audited net assets. The company's overdue guarantees amount to CNY 66.46 million. The decision was approved at the company’s 2025 first extraordinary general meeting of shareholders.