The US and China Yoshiwa (02453) announced that in view of the Group's business development and operation, the company plans to provide new financing guarantees to its subsidiaries for their respective financing needs. The total amount is estimated not to exceed RMB 2.7 billion. The guarantee amount is valid for 12 months from the date the company's shareholders approve the resolution at the Extraordinary General Meeting of Shareholders, in accordance with the business development plan and subject to the approval conditions, and can be transferred within the aforementioned period of validity.
Therefore, the Company will submit a special resolution at the Extraordinary General Meeting of Shareholders for shareholders' consideration and appropriate approval of the Company's provision of guarantees and the authorization of the board of directors and/or its authorized representatives to fully consider and approve all specific matters of guarantee within the amount of the guarantee.