GRAND HOLDING provides a credit guarantee of 400 million for its subsidiary, with the total guarantee amount accounting for nearly 5 times its net assets

Zhitong
2025.09.29 11:12

GRAND HOLDING Co., Ltd. announced the progress of providing guarantees for its subsidiaries. The company has provided guarantees for five subsidiaries, including Ningbo Grand and Grand Energy Chemical, to apply for credit from China CITIC Bank and Shanghai Pudong Development Bank, with an amount not exceeding 400 million yuan. This guarantee is within the expected limit and does not require further review. The announcement indicates that the total amount of external guarantees by the company and its holding subsidiaries exceeds 100% of the most recent audited net assets, posing certain risks. After this guarantee, the total external guarantee limit of the company and its holding subsidiaries reaches 11.65 billion yuan, accounting for 495.80% of the audited net assets for the year 2024, with no overdue or litigated guarantees. The board of directors believes that the guarantee can support the subsidiaries' business and that the risks are controllable

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