Announced by Zhitong Finance APP, UNQ Holdings (02177) stated that on October 17, 2024, its indirect wholly-owned subsidiary, UNQ Supply Chain (as guarantor), entered into a guarantee agreement with the creditor Industrial Bank Co., Ltd. Shanghai Minhang Branch, whereby UNQ Supply Chain agreed to provide a guarantee of up to RMB 48 million to ensure Shanghai Xuyi fulfills its repayment obligations to the creditor under the loan agreement on schedule.

The announcement stated that Shanghai Xuyi's main business is the offline sales channels of Japanese brands such as Feiten Si and Kobayashi Pharmaceutical, having established business relationships with leading offline retail channels. The directors believe that providing this guarantee under the guarantee agreement will help achieve the synergy between the company's e-commerce business and Shanghai Xuyi's offline business model, as well as the integration of sales channels. By providing this guarantee, the group maintains close ties with Shanghai Xuyi, closely monitoring its business development and the dynamic trends of different sales channels in the industry. If the group seeks further strategic cooperation or investment opportunities with Shanghai Xuyi in the future, it will be in a favorable position. Considering the above reasons, providing this guarantee will have a positive impact on the group's integration of industry-related resources and strategic layout, helping the group become an industry leader, in line with its overall business strategy and long-term interests.