Grandjoy pays out 1.95bn yuan for subsidiary's loan guarantee

Grandjoy Holdings Group Co., Ltd. announced that its controlled subsidiary, Chengdu Huayuefu Real Estate Development Co., Ltd., secured a 50,000 million yuan loan from Agricultural Bank of China's Chengdu Chenghua Branch in 2020 for the development of the Chengdu Xifu Hongyun project. The company provided a joint and several liability guarantee for 60% of this loan.

In November 2024, the company and Agricultural Bank of China entered into a "Loan Extension Agreement" to extend the principal amount of 30,590.6 million yuan. Following the original "Guarantee Contract" and the "Loan Extension Agreement," Grandjoy Holdings Group recently fulfilled its guarantee responsibility to the Agricultural Bank for Chengdu Huayuefu, amounting to 1,952.99 million yuan in principal.

The company states that its current production and operations are normal, and this matter will not have a material adverse impact. Grandjoy Holdings Group will implement proactive measures to protect the interests of the company and all shareholders and will promptly fulfill its information disclosure obligations.