Zhejiang Longsheng provides a guarantee of 550 million yuan for its wholly-owned subsidiary Zhejiang Hongsheng

Zhitong
2025.09.29 07:39

On September 28, 2025, Zhejiang Longsheng Group Co., Ltd. signed a "Maximum Guarantee Contract" with the Shaoxing Branch of Hangzhou Bank Co., Ltd. to provide a joint liability guarantee of 550 million yuan for its wholly-owned subsidiary Zhejiang Hongsheng Chemical Co., Ltd., rendering the contract previously signed with the Shaoxing Shangyu Branch of Hangzhou Bank void. This guarantee has no counter-guarantee and is within the total guarantee limit provided to the subsidiary for the company's 2025 fiscal year. As of the announcement date, the actual guarantee balance for Zhejiang Hongsheng is 1,610.247 million yuan, with an available guarantee limit of 2,339.753 million yuan. The total external guarantee balance of the company is 8,012.5783 million yuan, accounting for 23.37% of the audited net assets attributable to the parent company at the end of 2024, with no overdue guarantee situations. The board of directors believes that the risk of this guarantee is controllable and meets the operational needs of the subsidiary

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