Beijing News (Reporter Ko Dena) On December 26, Rongsheng Real Estate Development Co., Ltd. (hereinafter referred to as "Rongsheng Development") issued an announcement on providing guarantees for the financing of its subsidiaries.
According to the announcement, Chuzhou Rongding Real Estate, a subsidiary of Rongsheng Development, and Chuzhou Longpan Road Branch (hereinafter referred to as "Chuzhou Longpan Road Branch"), a subsidiary of Rongsheng Development, intend to continue to cooperate with the business for about 34.7 billion yuan, which will continue to be guaranteed by Rongsheng Development for the above business, and the total amount of guarantee shall not exceed 52.5 billion yuan, and the guarantee period shall not exceed 48 months.
According to the announcement, Rongsheng (Xuzhou) Real Estate Development, a wholly-owned subsidiary of Rongsheng Development, and China Minsheng Bank Co., Ltd. Qingdao Branch (hereinafter referred to as "Minsheng Bank Qingdao Branch") plan to continue to cooperate with the business of about 89.7 billion yuan, which will be jointly and severally guaranteed by Rongsheng Development for the above businesses, and the total amount of guarantee shall not exceed 11300 million yuan, and the guarantee period shall not exceed 60 months.
In addition, the announcement also mentioned that Chongqing Rongqian Real Estate Development, a wholly-owned subsidiary of Rongsheng Development, and Bohai Bank Co., Ltd. Chongqing Branch (hereinafter referred to as "Bohai Bank Chongqing Branch") intend to continue to cooperate in business 4900 million yuan, the company will provide full joint and several liability guarantee guarantee for the above business, the total amount of guarantee shall not exceed 600 million yuan, and the guarantee period shall not exceed 54 months.
Edited by Wu Xin.
Proofread by Wang Xin.