Shanghai Jin Jiang International Hotels Provides Guarantee for Subsidiary Groupe du Louvre's €73.5 Million Loan

Deep News09-23

On September 23, Shanghai Jin Jiang International Hotels Co., Ltd. announced it will provide a guarantee for its wholly-owned subsidiary Groupe du Louvre (GDL) with a guarantee amount of €73.5 million.

According to the announcement, on September 23, 2025, Shanghai Jin Jiang International Hotels signed a "Guarantee Contract" with Industrial and Commercial Bank of China Shanghai Bund Branch regarding GDL's application for a €73.5 million working capital loan (refinancing existing debt).

As of June 30, 2025, GDL reported total assets of €1,596.95 million, total liabilities of €1,203.42 million, total bank and related party loans of €193.94 million, total current liabilities of €887.01 million, and net assets of €393.54 million. For the first half of 2025, GDL achieved operating revenue of €236.90 million and net profit attributable to the parent company of -€30.09 million.

As of the announcement date, the total actual external guarantees provided by Shanghai Jin Jiang International Hotels and its wholly-owned subsidiaries (all guarantees for wholly-owned subsidiaries) amounted to RMB 9,820.56 million, including euro guarantees of €1,090.95 million (equivalent to RMB 9,150.56 million) and RMB guarantees of RMB 670 million. This represents 63.73% of the company's most recent audited net assets attributable to the parent company, with no overdue guarantees.

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