Summary by Futu AI
CMOC announced on September 18, 2024, that it will provide a joint and several guarantee of 0.1 billion yuan to its joint venture company, Luoyang Fuchuan Mining Co., Ltd. (Fuchuan Mining). The guarantee is set for the RMB 0.1 billion loan newly applied for by Fuchuan Mining from the Henan Branch of the Bank of China, with the Fuchuan Mining's ownership of the Shangfanggou molybdenum ore mining rights as collateral. As of the announcement date, the guarantee balance provided by CMOC to Fuchuan Mining is RMB 0.752 billion. CMOC stated that this guarantee meets the development needs of both the company and Fuchuan Mining, and the company is able to effectively manage and control the related risks. The total amount of external guarantees provided by CMOC is RMB 25.32 billion, accounting for 42.53% of the company's most recent audited net assets, and there are no overdue guarantee situations.