Summary by Futu AI
CRRC Corporation announced progress in providing financial support to the Mexican Guasave Project Company by its wholly-owned subsidiary CRRC (Hong Kong) Co., Ltd. The financial support includes a shareholder loan totaling 806,154,264.99 Mexican pesos (approximately RMB 325 million), with a loan term not exceeding 20 years and an annual interest rate of 13%. The assistance has been approved by the company's board of directors and does not require shareholder approval. The move aims to support the stable and sustainable development of the business of the Guasave Project Company and is manageable in terms of risk. As of December 31, 2023, the total amount of financial support provided by the company and its subsidiaries amounted to 0.20% of the net assets of the company audited and there is no overdue situation. The announcement was released by the board of directors of CRRC Corporation on June 14, 2024.