Youquhui Holdings (02177) subsidiary plans to provide a maximum guarantee of 48 million yuan

Zhitong Finance App News, Youquhui Holdings (02177) issued an announcement. On October 17, 2024, Youquhui Supply Chain, an indirect wholly-owned subsidiary of the company, entered into a guarantee agreement with the creditor Industrial Bank Co., Ltd. Shanghai Minhang Branch. Based on this, Youquhui Supply Chain agreed to provide a guarantee of up to RMB 48 million to ensure that Shanghai Xuyi fulfills its repayment obligations under the loan agreement with creditors as scheduled.

According to the announcement, Shanghai Xuyi's business is mainly to act as an agent for offline sales channels for products from Japanese brands such as Fitence and Kobayashi Pharmaceutical, and has established business relationships with some leading offline retail channels. The directors believe that providing this guarantee in accordance with the guarantee agreement will help achieve the collaborative development of the company's e-commerce business with Shanghai Xuyi's offline business model and integration of sales channels. By providing this guarantee, the Group maintains close ties with Shanghai Xuyi and can closely monitor their business development and the dynamic trends of different sales channels in related industries. If the Group seeks further strategic cooperation or investment opportunities related to Shanghai Xuyi in the future, the Group will also be in an advantageous position. For the above reasons, providing this guarantee will have positive significance for the integration and strategic layout of the Group's industry-related resources, help the Group become an industry leader, and meet the overall business strategy and long-term interests.