UTour Group extends guarantees for wholly-owned subsidiaries

UTour Group Co., Ltd. recently provided new guarantees for two wholly-owned subsidiaries, U-tour International Travel Service Co., Ltd. and UTour Business Travel (Beijing) International Conference & Exhibition Co., Ltd. For U-tour Travel, UTour Group signed a maximum guarantee contract with Beijing Bank Yonghe Cultural & Creative Branch, providing a joint and several liability guarantee for a maximum principal amount of RMB 45 million. Similarly, for UTour Business Travel, a maximum guarantee contract was signed with the same bank for a maximum principal amount of RMB 30 million, also with joint and several liability. Both guarantees cover the principal, interest, penalties, and other related expenses for a period of three years from the maturity date of the primary contract.

These guarantees fall within the RMB 2 billion inter-guarantee limit approved at UTour Group's 2024 Annual General Meeting, eliminating the need for further board or shareholder approval. As of the announcement date, the total approved inter-guarantee limit for subsidiaries is RMB 2 billion, with the actual outstanding guarantee balance for subsidiaries amounting to RMB 323.6 million. This figure represents 37.61% of the listed company's net assets attributable to shareholders as of the latest audited period.

The guarantees provided are crucial for the subsidiaries' operational activities. UTour Group has confirmed that, apart from the guarantees within its consolidated financial statements, neither the company nor its subsidiaries have provided other external guarantees, and there are no overdue external guarantees.