Summary by Futu AI
MINES ENERGY GROUP CO., LTD. ISSUED A NOTICE ON FEBRUARY 23, 2024 DISCLOSING THE EXPECTED GUARANTEE PROGRESS OF THE COMPANY AND ITS SUBSIDIARIES FOR THE YEAR. The announcement noted that the company provided RMB 2.30 million RMB International Trade Limited to RMB 2.30 in January 2024, and as of 31 January, the outstanding amount of RMB 22.00 was RMB 22.00. In addition, Coal Australia Limited and its subsidiaries provided a guarantee balance for a total of A$9.23 to the subsidiary of Mines Energy Australia. The Board of Directors of the Company stated that these securities and amounts are below the level of assurance that the Company has completed the approval process and that countervailing measures are in place to control the risks. As of 31 January 2024, the Company's aggregate external insurance surplus was RMB179.43, representing 18.94% of the Company's audited net assets in 2022.