Summary by Futu AI
CMOC Group Limited (referred to as "CMOC") issued an announcement on November 12, 2024, indicating a plan for external guarantees, which is expected to provide a total guarantee of no more than 11.45 billion yuan for its wholly-owned subsidiary. This guarantee plan was approved at the 2023 annual shareholder meeting and authorized by the board of directors to proceed. As of the announcement date, the total amount of external guarantees by the company accounts for 35.10% of the latest audited net assets, and there are no overdue guarantees. The company emphasizes that this action is beneficial for the stable and continuous development of the wholly-owned subsidiary, and aligns with the company's overall development strategy. Investors should be aware of the associated risks.