Summary by Futu AI
CHINA CENTRAL CAR CO., LTD. (“CRRC”) ANNOUNCED THAT ITS WHOLLY OWNED SUBSIDIARY CHINA CENTRAL CAR (HONG KONG) LIMITED HAS PROVIDED COLLATERAL FOR TIC TRENS S.A., A COMPANY ON THE NORTH AXIS PPP LINE OF THE SAN PAULO INTERCITY RAILWAY IN BRAZIL. The total amount of the guarantee does not exceed RMB 4.09 billion and is issued by Eulyan Yi Hong Kong Limited. The guarantee period is from June 2, 2024 to June 3, 2026. As of the announcement date, the total external insurance coverage of China Central Cars and its subsidiaries amounted to RMB625.15 billion, accounting for 38.84% of the company's audited net assets at the end of 2023. The announcement was made on 30 May 2024 by Mr. Sun Yongchai, Chairman.