Tongqing Building provides 280 million yuan guarantee for its wholly-owned subsidiary Chuzhou Fusheng

Guanjian.com News: On the evening of February 26, Tongqing Building announced that to meet the funding needs for the construction of the Chuzhou Fumao Garden Hotel project, recently, the company’s subsidiary Chuzhou Fusheng Hotel Management Co., Ltd. (hereinafter referred to as “Chuzhou Fusheng”) signed a “Fixed Asset Loan Contract” with Nanyang Commercial Bank (China) Co., Ltd. Hefei Branch (hereinafter referred to as “Nanyang Bank Hefei Branch”). Nanyang Bank Hefei Branch agreed to provide a fixed asset loan of RMB 280 million to Chuzhou Fusheng, with a loan term of 120 months.

The guarantees provided by the company and its subsidiaries for Chuzhou Fusheng include: (1) the company provides a joint liability guarantee for Chuzhou Fusheng and has signed a “Guarantee Contract” with Nanyang Bank Hefei Branch; (2) the wholly owned subsidiary Chuzhou Youjia Fumao Hotel Management Co., Ltd. (the operating entity of Fumao Garden Hotel, hereinafter referred to as “Chuzhou Youjia Fumao”) provides a joint liability guarantee for Chuzhou Fusheng and has signed a “Guarantee Contract” with Nanyang Bank Hefei Branch; (3) Chuzhou Youjia Fumao pledges all future operating income generated by its hotels as accounts receivable collateral for Chuzhou Fusheng and has signed a “Maximum Pledge Contract (Accounts Receivable)” with Nanyang Bank Hefei Branch.

Tongqing Building states that as of the date of this announcement, the total external guarantees provided by the company and its controlling subsidiaries amount to RMB 1.83 billion (the guarantee amounts are not double-counted for different guarantee entities within the consolidated scope for the same financing matter), accounting for 81.89% of the company’s audited net assets attributable to shareholders as of December 31, 2024. Among them, the total guarantee amount provided by the company to its wholly owned subsidiaries is RMB 1.69 billion, accounting for 75.63% of the company’s audited net assets attributable to shareholders as of December 31, 2024; the total guarantee amount provided by the wholly owned subsidiaries to the parent company is RMB 140 million, accounting for 6.26% of the company’s audited net assets attributable to shareholders as of December 31, 2024. The company has not provided guarantees to controlling shareholders, actual controllers, or their related parties. The company and its controlling subsidiaries have no overdue guarantees.

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