Grandjoy extends guarantee for subsidiary's RMB 236m loan

Grandjoy Holdings Group has extended its guarantee for a RMB 236 million loan taken by subsidiary Meishan Jiayue Real Estate from Agricultural Bank of China. The loan, originally secured in 2021 for RMB 400 million, funds development of the Meishan California Smart City project.

Grandjoy's guarantee covers its 36.4% equity stake, amounting to RMB 146 million, extended for two years under original terms. The company's total outstanding guarantees for subsidiaries now reach RMB 1.24 trillion, representing 116.63% of net assets.