Summary by Futu AI
CRRC Corporation ("the Company") released the Risk Continuity Assessment Report on its wholly-owned subsidiary CRRC Finance Co., Ltd. ("the Finance Company") on August 23, 2024. The report evaluated the risks of the Finance Company based on the financial data and relevant indicators for the first half of 2024, and confirmed the legal validity of its "Financial License" and "Business License". The report shows that the Finance Company has a wide range of operations, including deposits, loans, bill discounting, and other financial services, and has a sound internal control system and risk management system. As of the date of the report, the Company holds 91.36% equity of the Finance Company. The total assets of the Finance Company amount to 36,344.0491 million yuan, the total liabilities amount to 31,864.0164 million yuan, and the net profit is 115.443 million yuan. All regulatory indicators meet the required standards, demonstrating a good financial condition and risk control level. The Company has given a positive evaluation of the risk management of the Finance Company and believes that there are no major defects.
