Vats Liquor secures related-party guarantee, backs subsidiary with new support

Vats Liquor Chain Store Management Co., Ltd. (Vats Liquor) reported developments in its guarantee arrangements as of December 10, 2025. The company accepted a guarantee from related party Huaze Group Co., Ltd. (Huaze Group) for a maximum principal amount of RMB 161.14 million under a "Maximum Guarantee Contract" with China CITIC Bank Chengdu Branch. This guarantee is non-compensatory and does not require counter-guarantees from Vats Liquor, and falls within previously approved limits.

Additionally, Vats Liquor provided a guarantee for its wholly-owned subsidiary, Jiangsu Zhongtang Dehe Economic and Trade Co., Ltd. (Jiangsu Zhongtang), with Nanjing Bank Co., Ltd. Nanjing Chengbei Sub-branch. Under a "Maximum Guarantee Contract," Vats Liquor will provide a joint and several liability guarantee for debts amounting to a maximum principal of RMB 90 million. This guarantee also falls within the previously approved limits for subsidiary guarantees.

As of the disclosure date, Vats Liquor's total guarantee balance for its subsidiaries stands at RMB 310.8746 million, representing 9.85% of its most recent audited net assets. The company confirms no overdue guarantees, guarantees involved in litigation, or guarantees for which adverse judgments have been rendered.