Summary by Moomoo AI
On September 4, 2024, CMOC (Luoyang Molybdenum) issued an announcement detailing its external guarantee plan. According to the announcement, the company plans to provide guarantees totaling no more than 1.387 billion US dollars for its wholly-owned subsidiaries. The guarantee plan was approved at the annual shareholders' meeting in 2023 and authorized by the board of directors. As of the date of the announcement, the total amount of external guarantees accounted for 43.40% of the most recent audited net assets, and there were no overdue guarantees. The main guarantors mentioned in the announcement are IXM SA and Equusen (Shanghai) Enterprise Management Co., Ltd., both of which are wholly-owned subsidiaries of the company. The guarantee plan aims to support the normal production and operation activities of the subsidiaries and is seen as beneficial to the stable and continuous development of the company. The company emphasizes that the overall risks associated with the guarantees are controllable.
