Summary by Moomoo AI
China Central Railway Co., Ltd. announced on 29 April 2024 that the actual amount of external guarantees for the first quarter of 2024 was RMB 32.32 billion. The guarantee covers 16 wholly-owned subsidiaries and 1 joint-stock company and ensures that the total amount of the cumulative external guarantees is controlled within 50% of the net assets of the parent company audited in the most recent period. During this period, the collateralized policyholder had a balance of over 70%, and the company reminded investors to be aware of the risks involved. The guarantee act is carried out within the external collateral coverage budget for the second half of 2023 to the first half of 2024 as approved by the Company's Board of Directors and General Meeting and is intended to support the production and day-to-day operations of the subsidiaries and affiliates, and is in line with the Company's overall interests and development strategy. As of March 31, 2024, the Company and its wholly-owned and controlling subsidiaries totaled RMB 1,527.78 billion with no overdue external insurance coverage.