Summary by Moomoo AI
GOLDWIND TECHNOLOGIES ANNOUNCED ON 7 MAY 2024 THAT GOLDWIND INTERNATIONAL PHILIPPINES, INC., A HOLDING SUBSIDIARY OF ITS WHOLLY OWNED SUBSIDIARY GOLDWIND INTERNATIONAL HOLDINGS (HONG KONG) LIMITED. (Golden Wind Philippines) signed an “Early Work Agreement” with Philippine logistics company Royal Cargo, Inc. to take charge of the preliminary work of Golden Wind Philippines Kalayaan Wind Power Project in the Philippines. Goldwind International provides security for the performance of Goldwind Philippines in the amount of 370,515,287.80 Philippine pesos (approximately RMB46,656,167.40) for the duration of the guarantee period until Goldwind Philippines fulfills all obligations under the Agreement. The Security Agreement was signed in Beijing on May 6, 2024. Golden Wind Philippines was established on January 15, 2024. Its main business includes wind generator unit sales, etc., and as of March 31, 2024, Golden Wind Philippines is in good financial condition, with no external guarantees, etc. The Board of Directors has agreed, in accordance with the resolution of the General Meeting, to provide security to the wholly-owned and controlling subsidiary within the prescribed amount.