Summary by Moomoo AI
Jiangxi Ganfeng Lithium Group Co., Ltd. ("Ganfeng Lithium") announced on October 25, 2024, detailing that its controlling subsidiary Jiangxi Ganfeng Lithium Technology Co., Ltd. ("Ganfeng Lithium Electric") as a wholly-owned subsidiary of Jiangsu Ganfeng Power Technology Co., Ltd. ("Jiangsu Ganfeng") provided a joint guarantee to CEB Bank Yichun Branch of China Everbright Bank Limited not exceeding RMB 100 million. The guarantee is based on the resolution of the board of directors and shareholders' meeting approved on March 28 and June 25, 2024, regarding the expected external guarantee limit, and is valid for 12 months after approval by the company's shareholders' meeting. As of June 30, 2024, Jiangsu Ganfeng's asset-liability ratio was 66.97%. The total outstanding balance of external guarantees by the company and its controlling subsidiaries is 8,334.5167 million yuan, accounting for 17.72% of the company's most recent audited net assets, with no overdue guarantees or provisions of guarantees to entities outside the consolidated financial statements scope.
