Summary by Futu AI
Shandong Gold Mining Co., Ltd. ("Shandong Gold") announced on June 13, 2024 that its subsidiary Yintai Gold provided guarantees for its subsidiaries, Shanghai Shenghong Rongxin International Trade Co., Ltd. and Ningbo Yongsheng Rongxin International Trade Co., Ltd. Yintai Gold is expected to guarantee a total of 35 billion yuan, of which Shanghai Shenghong Rongxin International Trade Co., Ltd. provides a guarantee amount of 520 million yuan, and Ningbo Yongsheng Rongxin International Trade Co., Ltd. provides a guarantee amount of 650 million yuan. As of the announcement date, Yintai Gold's total guarantees for its subsidiaries amounted to 5.7679 billion yuan, accounting for 4.99% of the latest audited net assets of Yintai Gold and 1.74% of the latest audited net assets of Shandong Gold. The announcement also reminds investors to pay attention to related risks when the debt-to-asset ratio of the guarantor is greater than 70%.