GreatStar plans to provide a USD 6 million trade finance guarantee for its wholly-owned subsidiary

Zhitong
2025.09.23 10:35

On September 23, 2025, the 18th meeting of the 6th Board of Directors of Hangzhou GreatStar Technology Co., Ltd. reviewed and approved the proposal to provide a guarantee for its wholly-owned subsidiary Prime - Line Products, LLC to apply for a USD 6 million trade finance credit line from Citigroup, with a guarantee period not exceeding 12 months. This proposal is subject to the review of the shareholders' meeting. PLP was established in 1978 and mainly engages in door and window hardware. The most recent financial report shows that its debt-to-asset ratio exceeds 70%. As of the end of August, the total external guarantee balance of the company and its holding subsidiaries is CNY 270.3004 million, accounting for 1.65% of the most recent audited net assets attributable to the shareholders of the listed company, with no overdue guarantees. The Board of Directors believes that the risk of this guarantee is controllable and beneficial for the subsidiary's business development

Source: Zhitong The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
© 2025 Longbridge｜Disclaimer