Grandjoy subsidiary extends loan guarantee for Chongqing real estate project

Grandjoy Holdings Group announced that its subsidiary, Chongqing Yuezhiyu Real Estate Development Co., Ltd., has extended a RMB265 million loan from Ping An Bank until September 29, 2028. This loan was originally taken out in 2020 for a residential development project.

Chengdu Tianquan Real Estate Co., Ltd., a wholly-owned subsidiary, and Chongqing Yueqi Enterprise Management Co., Ltd., a controlled subsidiary, will continue to provide equity pledge guarantees for the debt, covering 1% and 99% of Chongqing Yuezhiyu's equity, respectively. Chongqing Yuezhiyu has provided a counter-guarantee.

The guarantee falls within the scope of Grandjoy's 2025 annual guarantee quota for its controlled subsidiaries, approved by the 2024 annual general meeting. As of December 31, 2024, Chongqing Yuezhiyu reported total assets of RMB700,970,388.67 and total liabilities of RMB425,132,964.24, resulting in net assets of RMB275,837,424.43. For 2024, the company recorded a net profit of -RMB64,657,954.92.

As of June 30, 2025, total assets were RMB680,548,175.89 and total liabilities were RMB424,564,017.74, with net assets of RMB255,984,158.15. The company reported a net profit of -RMB19,853,266.28 for the first half of 2025. Grandjoy's total external guarantees, including this transaction, amount to RMB1,571,900.95 million, representing 148.35% of its net assets attributable to shareholders as of December 31, 2024. The company has no overdue or litigation-related guarantees.