Xinhuajin Textile: The Actual Guarantee Balance Is 94 Million Yuan
Xinhua brocade (600735) announced in the evening of November 24 that in order to support the business development and daily operation needs of the subsidiary, it has provided a guarantee of 50 million yuan for the wholly-owned subsidiary Shandong Xinhua brocade Textile Co., Ltd. and a total guarantee of 70 million yuan for the holding subsidiary Shanghai Lizhi Industrial Co., Ltd. Up to now, the actual guarantee balance of Xinhuajin Textile is 94 million yuan, and that of Shanghai Lizhi is 145 million yuan.
Shanghai Liyi Enterprise Management Center (limited partnership) and its actual controller contributed 40% of the counter guarantee to the guarantee provided by Shanghai Lizhi. The accumulated guarantee amount provided by the company to its subsidiaries is 300 million yuan, and the actual guarantee amount is 239 million yuan, accounting for 15.49% of the company's latest audited net assets, and there is no overdue guarantee. The purpose of this action is to improve the financing efficiency, optimize the guarantee procedures and facilitate the normal operation of the company's business, without harming the interests of the company and minority shareholders.
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