Tianshan Biotech announced that the company provided a joint liability guarantee of up to 10 million yuan for the credit applied for by its wholly-owned subsidiary Agriculture and Animal Husbandry Technology from the Changji branch of the Bank of China. The actual controllers Chen Mingyi and Chen Huan simultaneously provided joint and several liability guarantees. In addition, the company signed supplementary agreements with Zhangzhou Financial Investment and Financial Investment Group, and the Financial Investment Group joined the cooperation and guarantee related agreements as joint creditors. The company continued to assume joint guarantee liability within the maximum debt amount of 100 million yuan, and no additional guarantee amount was added. These guarantees are all within the estimated annual guarantee amount of 250 million yuan, and there is no need for separate review. As of the date of disclosure of the announcement, the company and its subsidiaries had signed guarantee contracts amounting to $120 million, accounting for 379.22% of the latest audited net assets.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.