Grandjoy Holdings fulfills guarantee obligation for subsidiary loan

Grandjoy Holdings Group Co., Ltd. announced the progress of an external guarantee. Its controlling subsidiary, Meishan Jiayue Real Estate Co., Ltd., had secured a loan in 2020 from the Chengdu Chenghua Sub-branch of Agricultural Bank of China for the Meishan California Smart City project. Grandjoy Holdings Group provided a joint liability guarantee for this loan.

In August 2024, Meishan Jiayue and Agricultural Bank entered into a loan extension agreement for a principal amount of RMB 17,500万元. Grandjoy Holdings Group continued its joint liability guarantee for this extended loan as per the original guarantee contract.

Recently, the company fulfilled a guarantee obligation amounting to RMB 1,250万元 of principal and corresponding interest for Meishan Jiayue to the Agricultural Bank, adhering to the terms of both the guarantee contract and the loan extension agreement.

The company states that its current production and operations are normal, and this matter will not have a significant impact on its business. Grandjoy Holdings Group pledges to take active measures to safeguard the interests of the company and all shareholders, and to timely fulfill its information disclosure obligations.