On March 14, Aoyuan Beauty Valley Technology Co.Ltd(000615) issued an announcement on the progress of external related party guarantee and possible guarantee liability.
The announcement shows that Aoyuan Beauty Valley Technology Co.Ltd(000615) held the board of directors and the extraordinary general meeting of shareholders on July 27, 2021, and approved the external transfer of 100% equity of Jinghan real estate, 100% equity of Beijing Yangjia Health Management Co., Ltd. and 35% equity of Penglai Hualu Jinghan Elderly Care Service Co., Ltd., which were purchased by the related party Shenzhen Kaixian Investment Co., Ltd. in cash. After the completion of this major asset restructuring, Aoyuan Beauty Valley Technology Co.Ltd(000615) the guarantee provided for the debt of Jinghan real estate’s directional financing plan passively formed a related guarantee.
The announcement disclosed that as of February 20, 2022, the outstanding principal amount of Jinghan real estate was about 159 million yuan. As of March 13, 2022, Aoyuan Beauty Valley Technology Co.Ltd(000615) provided guarantee for the debt of Jinghan real estate’s directional financing plan, with a guarantee balance of 302 million yuan.
At present, according to the court litigation documents received, Aoyuan Beauty Valley Technology Co.Ltd(000615) the amount involved in the lawsuit against the debt guarantee of Jinghan real estate directional financing plan is 386482 million yuan, and the lawsuit has not yet been heard.
Aoyuan Beauty Valley Technology Co.Ltd(000615) said that if Jinghan real estate fails to fulfill its due payment obligations for individual directional financing products as agreed, the company will bear the risk of guarantee liability.
