Guolian Aquatic guarantees ¥18m for subsidiary's credit facility

Zhanjiang Guolian Aquatic Products Development Co., Ltd. (Guolian Aquatic) announced it is providing a joint and several liability guarantee of ¥18 million for a ¥30 million credit facility to its controlled subsidiary, Guolian (Yiyang) Foods Co., Ltd. This guarantee, approved by the company's 2024 annual general meeting, is for a term of three years from the maturity date of the principal debt. Guolian (Yiyang) Foods is a 60% owned subsidiary of Guolian Aquatic.

The guarantee falls under a larger approved facility of up to ¥300 million for Guolian (Yiyang) Foods. As of the announcement date, Guolian Aquatic's cumulative external guarantee balance totals ¥474.6637 million, representing 25.89% of the company's latest audited net assets. All current guarantees are for wholly-owned or controlled subsidiaries.

Guolian Aquatic confirmed that neither the company nor its subsidiaries have any overdue external guarantees or guarantees involved in litigation that could result in compensation. The company's remaining shareholders in Guolian (Yiyang) Foods are expected to provide pro-rata counter-guarantees or other risk control measures as necessary.