Summary by Moomoo AI
ANHUI CONE CEMENT CO., LTD. (CONE CEMENT) ANNOUNCED ON FEBRUARY 5, 2024 THAT ITS SUBSIDIARY ANHUI SEA CENTRAL ENVIRONMENTAL PROTECTION CO., LTD. HAS PROVIDED A FULL COMBINED LIABILITY GUARANTEE OF RMB 5000 MILLION TO LANZHOU HAICHUNG ENVIRONMENTAL TECHNOLOGY CO., LTD. The guarantee is to meet the construction and day-to-day operational needs of Lanzhou Central Sea projects and meets the overall benefits and development strategy of Conch Cement. Lanzhou Haizhong Environmental Protection has signed a loan agreement with Bank of China's Lanzhou Anning Center branch, with a loan term of 8 years. Conch Cement stated that this new guarantee amount is within the range approved by the Board of Directors and Shareholders, without the need to conduct the review process again. As of the announcement date, Conch Cement and its subsidiaries had an external guarantee amount of approximately RMB385,690.61 million, representing 2.10% of the Company's audited 2022 net assets attributable to the parent company.