Jiangsu Xinquan Automotive Trim (SHA:603179) agreed to provide a joint and several liability guarantee amounting to 300 million yuan to its subsidiary, Xinquan US Group, for its credit of the same amount, according to a Shanghai bourse filing on Wednesday.
The credit will be applied at China Merchants Bank's (HKG:3968, SHA:600036) Changzhou branch.
The guarantee is valid for three years.
The Chinese automotive parts manufacturer's shares were down 2% during the midday trade.
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