On August 18, Sunshine City (000671.SZ) announced that the company provided a guarantee of 700 million yuan for its shareholding subsidiary, Zhangzhou Longwen Tangguang Real Estate Development Co., Ltd. (hereinafter referred to as "Longwen Tangguang Real Estate").
Longwen Tangguang Real Estate, a shareholding subsidiary in Sunshine City, which holds a 50% interest, received a financing of RMB700 million from Zhongyuan Trust Co., Ltd. for a period not exceeding 24 months. As a guarantee condition: Sunshine City (Xiamen) Real Estate Co., Ltd., a wholly-owned subsidiary of Sunshine City, is referred to as "Sunshine City Xiamen") and Zhangzhou Tangrun Real Estate Development Co., Ltd. (hereinafter referred to as "Zhangzhou Tangrun Real Estate") respectively pledge their 50% equity interest in Longwen Tangguang Real Estate, Sunshine City provides 100% joint and several liability guarantee for the financing, another shareholder, Xiamen Datang Real Estate Group Co., Ltd., provides a 50% counter-guarantee for Sunshine City, and Longwen Tangguang Real Estate provides a counter-guarantee for Sunshine City.
Zhangzhou Longwen Tangguang Real Estate, established on April 16, 2020, legal representative Ni Bing, the main business is real estate development and operation. Sunshine City Xiamen, a wholly-owned subsidiary of Sunshine City, holds 50% of its equity, and Zhangzhou Tangrun Real Estate holds 50% of its equity. Longwen Tangguang Real Estate is a 50% equity subsidiary of Sunshine City. As of March 31, 2021, Zhangzhou Longwen Tangguang Real Estate had total assets of approximately RMB1.641 billion, total liabilities of approximately RMB467 million and net assets of RMB1.183 billion. January-March 2021. Zhangzhou Longwen Tangguang Real Estate operating income is 0 yuan, net profit of about -6.31 million yuan.
It is reported that Zhangzhou Longwen Tangguang Real Estate has project land, and the parcel number is Min (2020) Longwen District Real Estate Property No. 0003128, which is urban residential land and retail commercial land. Located in Longwen District, east of Longwen North Road, west of Lanqiao Road and south of North Ring Road, the transfer area is about 83,900 square meters, the volume ratio is > 1<2.5, and the green space rate is > 30%.
As of August 18, 2021, the actual amount of guarantees provided by Sunshine City and its holding subsidiaries to the participating companies was 18.630 billion yuan, accounting for 60.70% of the net assets attributable to the parent company in the latest audited consolidated statements. The actual amount of guarantees provided by Sunshine City and its holding subsidiaries to other holding subsidiaries with an asset-liability ratio of more than 70% was RMB69.533 billion, accounting for 226.54% of the net assets attributable to the parent company in the latest audited consolidated statements. The actual amount of guarantees provided by Sunshine City and its holding subsidiaries to other holding subsidiaries with an asset-liability ratio of not more than 70% was RMB6.014 billion, accounting for 19.59% of the net assets attributable to the parent company in the latest audited consolidated statements. The total amount of guarantees incurred in the above three types of guarantees is 94.177 billion yuan, accounting for 306.84% of the net assets attributable to the parent company in the latest audited consolidated statements.
Text/Chen Shuhan
![Collect clues about Zhang Kai, Zai Debao, Yuan Xingwang, and Tang Guang's illegal crimes[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)