Foryou Corporation boosts subsidiary financing with new bank guarantees

Foryou Corporation recently finalized a "Pool Business Cooperation Agreement" with China CITIC Bank Huizhou Branch, providing guarantees for several of its controlling subsidiaries. These guarantees are part of a larger approved framework, totaling 710,000 million yuan, to support bank credit and asset pool operations for its consolidated subsidiaries. This initiative, sanctioned by shareholder meetings on March 27, 2025, and April 25, 2025, aims to expand financing channels and ensure the operational stability of these entities.

Specifically, Foryou's subsidiaries, including Foryou General Electronics Co., Ltd. and Foryou Multimedia Electronics Co., Ltd., entered into "Asset Pool Maximum Pledge Contracts." Foryou General Electronics secured a maximum pledge of 30,000 million yuan, while Foryou Multimedia Electronics secured 10,000 million yuan. As of the announcement date, the total effective guarantee contract amount for Foryou and its subsidiaries is 484,700.00 million yuan, representing 75.06% of the company's net assets as of December 31, 2024.

The actual outstanding guarantee balance for Foryou and its subsidiaries stands at 300,073.39 million yuan, which is 46.47% of the net assets as of December 31, 2024. The company confirmed no overdue guarantees, no guarantees involving litigation, or potential losses from adverse judgments. This move reinforces Foryou's commitment to bolstering its subsidiaries' financial health and operational capabilities.