Summary by Futu AI
CHINA CENTRAL CAR CO., LTD. (“CRRC”) ANNOUNCED THAT ITS WHOLLY OWNED SUBSIDIARY CHINA CENTRAL CAR (HONG KONG) LIMITED WILL PROVIDE PERFORMANCE GUARANTEES FOR TIC MOBILIDADE SPE S.A., A COMPANY ON THE NORTH AXIS PPP LINE OF THE SAN PAULO INTERCITY RAILWAY IN BRAZIL. The maximum guaranteed amount is approximately RMB 4.09 billion, and the actual guarantee liability amount is currently zero. The guarantee has been approved by the CRRC Board of Directors and is not subject to approval by the General Meeting. AS OF THE ANNOUNCEMENT DATE, CRRC AND ITS SUBSIDIARIES HAD NO OVERDUE GUARANTEES, REPRESENTING 38.89% OF THE COMPANY'S AUDITED NET ASSETS AT THE END OF 2023. The guarantee is designed to support Brazilian project companies' intercity rail projects and measures have been taken to control the risk of the guarantee.