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Gansu Yasheng Industrial (Group) Co., Ltd. Progress Announcement on Providing Guarantee for Its Wholly-Owned Subsidiary
Securities Code: 600108 Securities Abbreviation: Yasheng Group Announcement Number: 2026-014
Gansu Yasheng Industrial (Group) Co., Ltd. Progress Announcement on Providing Guarantees for Wholly-Owned Subsidiaries
The Board of Directors of the Company and all Directors guarantee that the content of this announcement does not contain any false records, misleading statements, or major omissions, and bear legal responsibility for the truthfulness, accuracy, and completeness of its content.
Important Content Reminder:
● Guaranteed Object and Basic Situation
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● Cumulative Guarantee Situation
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I. Overview of Guarantees
(1) Basic Situation of Guarantees
Gansu Yasheng Industrial (Group) Co., Ltd. (hereinafter referred to as “the Company”) signed a guarantee contract with CITIC Bank Corporation Limited Lanzhou Branch to provide a joint liability guarantee of 11,779,500 Yuan for the wholly-owned subsidiary of the Company, Gansu Yasheng Seed Industry Group Co., Ltd. (hereinafter referred to as “Yasheng Seed Industry”), for its wholly-owned subsidiary Gansu Zhongkenyu Seed Industry Co., Ltd. (hereinafter referred to as “Zhongkenyu”).
The Company signed a guarantee contract with Gansu Shandan Rural Commercial Bank Co., Ltd. Business Department to provide a joint liability guarantee of 2,000,000 Yuan for the wholly-owned subsidiary of the Company, Gansu Yasheng Potato Industry Group Co., Ltd. (hereinafter referred to as “Yasheng Potato Industry”), for its wholly-owned subsidiary Shandan County Yuxing Powder Industry Co., Ltd. (hereinafter referred to as “Yuxing Powder Industry”).
The Company signed a guarantee contract with Lanzhou Bank Co., Ltd. Qin’an Road Branch to provide a joint liability guarantee of 20,000,000 Yuan for the wholly-owned subsidiary of the Company, Gansu Yasheng Yameite Water-Saving Co., Ltd. (hereinafter referred to as “Yasheng Yameite”).
The Company signed guarantee contracts with Industrial and Commercial Bank of China Limited Lanzhou Xigu Branch, China Everbright Bank Co., Ltd. Lanzhou Branch, Lanzhou Bank Co., Ltd. Qin’an Road Branch, and China Minsheng Bank Co., Ltd. Lanzhou Branch, providing a total joint liability guarantee of 69,360,000 Yuan for the wholly-owned subsidiary of the Company, Gansu Yasheng Agricultural Comprehensive Service Co., Ltd. (hereinafter referred to as “Yasheng Agricultural Service”).
The Company signed guarantee contracts with Lanzhou Bank Co., Ltd. Qin’an Road Branch, Bank of China Limited Lanzhou Anning Center Branch, and Agricultural Development Bank of China Yongchang Branch, providing a total joint liability guarantee of 80,000,000 Yuan for the wholly-owned subsidiary Yasheng Potato Industry.
The Company signed a guarantee contract with Bank of China Limited Lanzhou Anning Center Branch to provide a joint liability guarantee of 10,000,000 Yuan for the wholly-owned subsidiary of Yasheng Potato Industry, Gansu Yasheng Longxing Starch Co., Ltd. (hereinafter referred to as “Longxing Starch”).
The Company signed a guarantee contract with Lanzhou Bank Co., Ltd. Qin’an Road Branch to provide a joint liability guarantee of 10,000,000 Yuan for the wholly-owned subsidiary of Gansu Yasheng Seed Industry Group Co., Ltd. (hereinafter referred to as “Yasheng Seed Industry”) for its wholly-owned subsidiary Gansu Nongken Excellent Seed Co., Ltd. (hereinafter referred to as “Nongken Excellent Seed”).
The Company signed guarantee contracts with Bank of Communications Co., Ltd. Gansu Branch and Bank of China Limited Gansu Branch, providing a total joint liability guarantee of 17,000,000 Yuan for the wholly-owned subsidiary Yasheng Seed Industry.
The Company signed a guarantee contract with Shanghai Pudong Development Bank Co., Ltd. Lanzhou Branch to provide a joint liability guarantee of 20,000,000 Yuan for the wholly-owned subsidiary of the Company, Gansu Yasheng Green Xin Beer Raw Material Group Co., Ltd. (hereinafter referred to as “Yasheng Green Xin”).
The Company signed a guarantee contract with Bank of Communications Co., Ltd. Gansu Branch to provide a joint liability guarantee of 50,000,000 Yuan for the wholly-owned subsidiary of the Company, Gansu Yasheng Tianyuan Mu Ge Grass Industry Group Co., Ltd. (hereinafter referred to as “Yasheng Tianyuan Mu Ge”).
(2) Internal Decision-Making Procedures
The Company held the ninth meeting of the tenth Board of Directors on August 26, 2025, and the first extraordinary general meeting of shareholders in 2025 on September 17, 2025, to review and approve the proposal regarding providing maximum credit guarantees for subsidiaries, agreeing to provide a total guarantee of no more than 140,000,000 Yuan for the loans of wholly-owned subsidiaries within one year from the date of approval by the first extraordinary general meeting of shareholders in 2025. For specific details, please refer to the announcements disclosed by the Company on the Shanghai Stock Exchange website and designated media on August 28, 2025, and September 18, 2025, regarding providing maximum credit guarantees for subsidiaries (Announcement Number: 2025-036) and the resolution announcement of the first extraordinary general meeting of shareholders in 2025 (Announcement Number: 2025-042).
II. Basic Situation of the Guaranteed Parties
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III. Main Contents of the Guarantee Agreement
(1) Guarantee Provided by the Company for Zhongkenyu
Creditor: CITIC Bank Corporation Limited Lanzhou Branch
Debtor: Gansu Zhongkenyu Seed Industry Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 11,779,500 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: Principal debts under the main contract, interest, penalty interest, compound interest, liquidated damages, damage compensation, interest on debts during the period of delayed performance, late fees, and expenses incurred to realize the creditor’s rights (including but not limited to litigation fees, arbitration fees, attorney fees, travel fees, evaluation fees, transfer fees, preservation fees, announcement fees, notarization fees, translation fees, execution fees, preservation insurance fees, etc.) and all other payable expenses.
Guarantee Period: Three years from the expiration of the performance period of the debts under the main contract.
Counter-Guarantee Situation: None
(2) Guarantee Provided by the Company for Yuxing Powder Industry
Creditor: Gansu Shandan Rural Commercial Bank Co., Ltd. Business Department
Debtor: Shandan County Yuxing Powder Industry Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 2,000,000 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: Principal debts under the main contract, interest, penalty interest, compound interest, liquidated damages, damage compensation; expenses incurred to realize creditor’s rights, including but not limited to: collection fees, litigation fees, preservation fees, attorney fees, notary fees, tax fees, travel fees, evaluation fees, auction fees, enforcement fees, announcement fees, delivery fees, identification fees, and fees for hiring third parties for collection.
Guarantee Period: Three years from the expiration of the debtor’s performance period as stipulated in the main contract.
Counter-Guarantee Situation: None
(3) Guarantee Provided by the Company for Yasheng Yameite
Creditor: Lanzhou Bank Co., Ltd. Qin’an Road Branch
Debtor: Gansu Yasheng Yameite Water-Saving Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 20,000,000 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: Principal and interest (including compound interest and penalty interest) under the main contract, liquidated damages, compensation, and other amounts payable by the debtor to the creditor (including but not limited to relevant fees, communication fees, miscellaneous fees, and related bank fees not borne by the beneficiary), and expenses incurred to realize creditor’s rights and guarantee rights (including but not limited to litigation fees, arbitration fees, preservation fees, travel fees, execution fees, auditing fees, inquiry fees, auction fees, delivery fees, announcement fees, attorney fees, legal penalties for delay in performance, etc.), losses suffered by the creditor due to the debtor’s default, and all other payable expenses, as well as all expenses and losses arising from the guaranteed debts.
Guarantee Period: The guarantee period is three years, calculated from the expiration of the performance period of the debts.
Counter-Guarantee Situation: None
(4) Guarantee Provided by the Company for Yasheng Agricultural Service
Debtor: Gansu Yasheng Agricultural Comprehensive Service Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 20,000,000 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: Including principal (including the principal of precious metal leasing debt and the amount converted to RMB as agreed in the precious metal leasing contract), interest, precious metal leasing fees and personalized service fees, compound interest, penalty interest, liquidated damages, damage compensation, precious metal leasing weight short fees, exchange rate losses (related losses due to exchange rate fluctuations), related losses due to changes in precious metal prices, transaction fees generated by the lender exercising corresponding rights under the main contract, and expenses incurred to realize creditor’s rights (including but not limited to litigation fees, attorney fees, etc.).
Guarantee Period: Three years from the expiration of the borrowing period or precious metal leasing period under the main contract.
Counter-Guarantee Situation: None
Debtor: Gansu Yasheng Agricultural Comprehensive Service Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 24,360,000 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: Principal under the main contract, interest (including penalty interest and compound interest), liquidated damages, damage compensation, and expenses incurred by the creditor to realize creditor’s rights (collectively referred to as “secured debt”). The expenses incurred by the creditor to realize the creditor’s rights refer to litigation (arbitration) fees, attorney fees, travel fees, enforcement fees, preservation fees, and other expenses incurred when the creditor realizes their rights through litigation, arbitration, or applying to a notary agency for an enforcement certificate.
Guarantee Period: Three years from the expiration of the main debt performance period; the guarantee period for bank acceptance bills, letters of credit, and guarantees is three years from the date the creditor advances payments.
Counter-Guarantee Situation: None
Debtor: Gansu Yasheng Agricultural Comprehensive Service Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 10,000,000 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: Principal and interest (including compound interest and penalty interest) under the main contract, liquidated damages, compensation, and other amounts payable by the debtor to the creditor (including but not limited to relevant fees, communication fees, miscellaneous fees, related bank fees not borne by the beneficiary, etc.), and expenses incurred to realize creditor’s rights and guarantee rights (including but not limited to litigation fees, arbitration fees, preservation fees, travel fees, execution fees, auditing fees, inquiry fees, auction fees, delivery fees, announcement fees, attorney fees, legal penalties for delay in performance, etc.), losses suffered by the creditor due to the debtor’s default, and all other payable expenses, as well as all expenses and losses arising from the guaranteed debts.
Guarantee Period: The guarantee period is three years, calculated from the expiration of the debtor’s performance period.
Counter-Guarantee Situation: None
Debtor: Gansu Yasheng Agricultural Comprehensive Service Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 15,000,000 Yuan
Guarantee Method: Irrevocable Joint Liability Guarantee
Guarantee Scope: The principal/advanced payment/payments and their interest, penalty interest, compound interest, liquidated damages, damage compensation, and expenses incurred to realize creditor’s rights and guarantee rights (including but not limited to litigation fees, enforcement fees, preservation fees, preservation guarantee fees, custody fees for guaranteed property, arbitration fees, delivery fees, announcement fees, attorney fees, travel fees, double interest during the delay in performance of valid legal documents, and all other reasonable expenses) as stipulated in the guarantee contract.
Guarantee Period: Three years from the expiration of the performance period of the principal debtor as stipulated in the contract.
Counter-Guarantee Situation: None
(5) Guarantee Provided by the Company for Yasheng Potato Industry
Debtor: Gansu Yasheng Potato Industry Group Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 40,000,000 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: Principal and interest (including compound interest and penalty interest) under the main contract, liquidated damages, compensation, and other amounts payable by the debtor to the creditor (including but not limited to relevant fees, communication fees, miscellaneous fees, related bank fees not borne by the beneficiary, etc.), and expenses incurred to realize creditor’s rights and guarantee rights (including but not limited to litigation fees, arbitration fees, preservation fees, travel fees, execution fees, auditing fees, inquiry fees, auction fees, delivery fees, announcement fees, attorney fees, legal penalties for delay in performance, etc.), losses suffered by the creditor due to the debtor’s default, and all other payable expenses, as well as all expenses and losses arising from the guaranteed debts.
Guarantee Period: The guarantee period is three years, calculated from the expiration of the debtor’s performance period.
Counter-Guarantee Situation: None
Debtor: Gansu Yasheng Potato Industry Group Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 10,000,000 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: The principal under the guarantee contract includes the guaranteed principal under the main contract, including principal, interest (including interest, compound interest, penalty interest), liquidated damages, compensation, and expenses incurred by the creditor to realize creditor’s rights (including but not limited to litigation fees, attorney fees, notary fees, enforcement fees, etc.), losses suffered by the creditor due to the debtor’s default, and all other payable expenses.
Guarantee Period: Three years from the expiration of the main debt’s repayment period.
Counter-Guarantee Situation: None
Debtor: Gansu Yasheng Potato Industry Group Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 30,000,000 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: Principal, interest, compound interest, penalty interest, liquidated damages, damage compensation, amounts that the borrower should return upon termination of the main contract, and expenses incurred to realize creditor’s rights and guarantee rights (including but not limited to transportation fees, notary fees, litigation fees, arbitration fees, property preservation fees, evaluation fees, auction fees, execution fees, transfer fees, attorney fees, identification fees, custody fees, announcement fees, notification fees, collection fees, double debt interest during the delay in performance, and all other expenses).
Guarantee Period: Three years from the expiration of the performance period of the debts stipulated in the main contract.
Counter-Guarantee Situation: None
(6) Guarantee Provided by the Company for Longxing Starch
Creditor: Bank of China Limited Lanzhou Anning Center Branch
Debtor: Gansu Yasheng Longxing Starch Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 10,000,000 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: The principal under the main contract includes principal, interest (including interest, compound interest, penalty interest), liquidated damages, compensation, and expenses incurred by the creditor to realize creditor’s rights (including but not limited to litigation fees, attorney fees, notary fees, enforcement fees, etc.), losses suffered by the creditor due to the debtor’s default, and all other payable expenses.
Guarantee Period: Three years from the expiration of the repayment period of the main debt.
Counter-Guarantee Situation: None
(7) Guarantee Provided by the Company for Nongken Excellent Seed
Creditor: Lanzhou Bank Co., Ltd. Qin’an Road Branch
Debtor: Gansu Nongken Excellent Seed Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 10,000,000 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: Principal and interest (including compound interest and penalty interest) under the main contract, liquidated damages, compensation, and other amounts payable by the debtor to the creditor (including but not limited to relevant fees, communication fees, miscellaneous fees, related bank fees not borne by the beneficiary, etc.), and expenses incurred to realize creditor’s rights and guarantee rights (including but not limited to litigation fees, arbitration fees, preservation fees, travel fees, execution fees, auditing fees, inquiry fees, auction fees, delivery fees, announcement fees, attorney fees, legal penalties for delay in performance, etc.), losses suffered by the creditor due to the debtor’s default, and all other payable expenses, as well as all expenses and losses arising from the guaranteed debts.
Guarantee Period: The guarantee period is three years, calculated from the expiration of the debtor’s performance period.
Counter-Guarantee Situation: None
(8) Guarantee Provided by the Company for Yasheng Seed Industry
Debtor: Gansu Yasheng Seed Industry Group Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 7,000,000 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: All principal and interest under the main contract, compound interest, penalty interest, liquidated damages, compensation, and expenses incurred to realize creditor’s rights. The expenses to realize creditor’s rights include but are not limited to collection fees, litigation fees (or arbitration fees), preservation fees, announcement fees, execution fees, attorney fees, travel fees, and other expenses.
Guarantee Period: The guarantee period for each principal debt is calculated from the expiration of the performance period of that debt (or the date the creditor advances payment) to three years after the expiration of the performance period of the last principal debt under the entire main contract (or the date the creditor advances payment).
Counter-Guarantee Situation: None
Debtor: Gansu Yasheng Seed Industry Group Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 10,000,000 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: The main debt defined in the guarantee contract includes principal, interest (including interest, compound interest, and penalty interest), liquidated damages, compensation, and expenses incurred by the creditor to realize creditor’s rights (including but not limited to litigation fees, attorney fees, notary fees, enforcement fees, etc.), losses suffered by the creditor due to the debtor’s default, and all other payable expenses, which will be specifically determined upon repayment.
Guarantee Period: The guarantee period for each debt under the guarantee contract is calculated separately, and the guarantee period for each debt is three years from the expiration of the performance period of that debt.
Counter-Guarantee Situation: None
(9) Guarantee Provided by the Company for Yasheng Green Xin
Creditor: Shanghai Pudong Development Bank Co., Ltd. Lanzhou Branch
Debtor: Gansu Yasheng Green Xin Beer Raw Material Group Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 20,000,000 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: In addition to the principal debt mentioned in the guarantee contract, it also includes interest (the interest mentioned in the guarantee contract includes interest, penalty interest, and compound interest), liquidated damages, damage compensation, handling fees, and other expenses incurred for signing or performing this contract, as well as expenses incurred by the creditor to realize their rights and claims (including but not limited to litigation fees, attorney fees, travel fees, etc.), and any security deposit that the creditor requires the debtor to make up as per the main contract.
Guarantee Period: Calculated separately by the creditor for each debt owed by the debtor, from the expiration of the performance period of each debt contract to three years after the expiration of the performance period as stipulated in the debt contract.
Counter-Guarantee Situation: None
(10) Guarantee Provided by the Company for Yasheng Tianyuan Mu Ge
Creditor: Bank of Communications Co., Ltd. Gansu Branch
Debtor: Gansu Yasheng Tianyuan Mu Ge Grass Industry Group Co., Ltd.
Guarantor: Gansu Yasheng Industrial (Group) Co., Ltd.
Guarantee Amount: 50,000,000 Yuan
Guarantee Method: Joint Liability Guarantee
Guarantee Scope: All principal and interest under the main contract, compound interest, penalty interest, liquidated damages, compensation, and expenses incurred to realize creditor’s rights. The expenses to realize creditor’s rights include but are not limited to collection fees, litigation fees (or arbitration fees), preservation fees, announcement fees, execution fees, attorney fees, travel fees, and other expenses.
Guarantee Period: The guarantee period for each principal debt is calculated from the expiration of the performance period of that debt (or the date the creditor advances payment) to three years after the expiration of the performance period of the last principal debt under the entire main contract (or the date the creditor advances payment).
Counter-Guarantee Situation: None
IV. Necessity and Reasonableness of the Guarantee
This guarantee matter is conducted within the authorization scope of the resolutions of the Board of Directors and the Shareholders’ Meeting, with the guaranteed parties being wholly-owned subsidiaries of the Company. The operating conditions are stable, and the credit status is good. The purpose of the guarantee is to meet the normal funding needs of the subsidiaries, and the risk of guarantee is within a controllable range, with no circumstances harming the interests of the Company and minority shareholders, thus being necessary and reasonable.
V. Opinions of the Board of Directors
The ninth meeting of the tenth Board of Directors approved the proposal regarding providing maximum credit guarantees for subsidiaries with 9 votes in favor, 0 votes against, and 0 abstentions. The Board of Directors believes that the guaranteed companies are wholly-owned subsidiaries of the Company, and providing guarantees for them is beneficial for them to conduct financing business, ensuring their funding needs for production and operations as well as business development.
VI. Total Number of External Guarantees and Number of Overdue Guarantees
As of the date of announcement, the total amount of external guarantees provided by the Company is 905,551,800 Yuan, all of which are guarantees provided by the Company for wholly-owned subsidiaries, accounting for 21.14% of the Company’s most recent audited net assets. The Company has not provided guarantees for the controlling shareholders, actual controllers, and their related parties, nor are there any overdue guarantees.
This announcement is hereby made.
Board of Directors of Gansu Yasheng Industrial (Group) Co., Ltd.
March 28, 2026