Guangdong Yuehai Feeds secures $183m in raw material procurement guarantees

Guangdong Yuehai Feeds Group Co., Ltd. announced progress on guarantees for accounts payable related to raw material procurement for its subsidiaries. The company's board of directors and supervisors approved a total guarantee amount not exceeding 183,000,000 yuan for its consolidated subsidiaries, covering raw material purchases from various suppliers.

The guarantees include arrangements with Cargill Investment (China) Co., Ltd. and its affiliates, totaling 12,000,000 yuan. Additionally, the company secured guarantees with Zhejiang Provincial Grain and Oil Trading Co., Ltd. and Zhejiang Provincial Grain Group Co., Ltd. for 20,000,000 yuan, and with China Animal Husbandry (Beijing) Animal Nutrition Technology Co., Ltd. for 15,000,000 yuan. These guarantees are valid for two years from the maturity of the primary debt.

As of the disclosure date, the company's total outstanding guarantees amount to 100,632,720 yuan, accounting for 39.06% of its net assets attributable to parent company shareholders from the latest audited period. Guarantees for consolidated subsidiaries total 92,702,550 yuan (35.98% of net assets), with an additional 7,930,170 yuan (3.08%) for customer financing of feed products. The company reported no overdue or disputed guarantee matters.