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Zhejiang Yongtai Allocates 100 Million Yuan Credit Guarantee to Subsidiary

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Zhejiang Yongtai Technology (SHE:002326) provided a guarantee with a principal amount of 100 million yuan to its subsidiary, Inner Mongolia Yongtai Chemical, according to a Shenzhen bourse filing on Friday.

The guarantee will be for Inner Mongolia Yongtai's credit facility.

The guarantee is part of the company's 2 billion yuan guarantee set aside for Inner Mongolia Yongtai for this year. The remaining guarantee for Innoer Mongolia Yongtai is now at 466.4 million yuan.

The fluorine fine chemicals manufacturer's shares slipped 1% during the afternoon trade.

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