Guolian Aquatic approves increased guarantees for key subsidiaries

Zhanjiang Guolian Aquatic Products Development Co., Ltd. (Guolian Aquatic) has announced the approval of increased guarantee limits for its key subsidiaries. These approvals, stemming from resolutions passed at the company’s Sixth Board of Directors' Twelfth Meeting and the 2024 Annual Shareholders' Meeting, are aimed at supporting the business development of its controlled entities.

Specifically, Guolian Aquatic will provide a maximum guarantee of RMB 300 million for Guolian (Yiyang) Food Co., Ltd. and a maximum of RMB 500 million for Guangdong Guomei Aquatic Products Food Co., Ltd. Both guarantees will facilitate comprehensive credit lines with financial institutions. Recently, Guolian (Yiyang) Food applied for a RMB 20 million credit line from Bank of Communications, and Guangdong Guomei Aquatic Products applied for a RMB 135 million credit line from Postal Savings Bank of China, with Guolian Aquatic providing joint and several liability guarantees for both.

As of the disclosure date, Guolian Aquatic’s cumulative external guarantee balance stands at RMB 356.1566 million, representing 19.43% of its most recent audited net assets. Following the activation of these new guarantees, the total cumulative external guarantee balance will rise to RMB 511.1566 million, accounting for 27.88% of its net assets. All guarantees are provided to wholly-owned or controlled subsidiaries, and there are no overdue external guarantees or litigation-related liabilities.