Summary by Futu AI
HUA FENG INTERNATIONAL POWER CO., LTD. ANNOUNCED ON 24 APRIL 2024 THAT ITS SUBSIDIARY HUA FENG SHAN YUYI (HONG KONG) ENERGY CO., LTD. RECEIVED EXTERNAL GUARANTEES. The guarantee involved two loans: one for 50% of the US$1.19 billion and the other for 50% of the RMB equivalent of US$1 billion. HUA FENG SHANDONG POWER CO., LTD. WILL PROVIDE IRREVOCABLE COLLATERAL WITH LIABILITY GUARANTEE FOR THE ABOVE LOANS. This guarantee is not guaranteed and, as of the date of announcement, there is no external warranty arrears at Huawei International. With a debt ratio of more than 70% of the guarantor's assets, the company reminds investors to be mindful of collateral risks. THIS GUARANTEE IS SUBJECT TO SUBMISSION TO THE GENERAL MEETING FOR CONSIDERATION. Huaneng International said that this guarantee would not have a significant impact on the company's financial condition and that the total amount of external guarantees represented approximately 5.70% of the company's net assets in the most recent audited consolidated financial statements.