Summary by Moomoo AI
China Transport Construction Co., Ltd. (abbreviated as China Construction) issued a notice on 29 April 2024 announcing its financing guarantee plan for 2024. The total amount of the program is RMB 735.58 billion and aims to support the operational and business development needs of the company's wholly-owned subsidiaries, holding subsidiaries and joint-stock companies. The PRC Subsidiary Guarantee Scheme provides approximately $418.15 billion in guarantees for subsidiaries, approximately $34.02 billion for subsidiaries and approximately $13.42 million for participating companies. The announcement specifically reminds investors that some of the guarantors have a debt ratio of more than 70% and emphasizes that the company has no overdue financing guarantees. The financing guarantee scheme must be submitted for consideration at the 2023 Annual General Meeting for later implementation.