Summary by Moomoo AI
Great Wall Motor Corporation issued a notice on 28 March 2024 detailing the progress of its warranties to its multiple subsidiaries and related businesses. The announcement notes that this guarantee is provided to a holding company and is not a related guarantee and lists the names and guarantee amounts of 13 guarantors. These include Russia's Havre Automobile Manufacturing Limited, Great Wall Automobile Manufacturing (Thailand) Limited, etc. The guarantee amounts cover various currencies such as RMB, USD and Thai Baht. As of 25 March 2024, Great Wall Motor and its holding subsidiaries had a guaranteed balance of RMB898,134.42 million, representing 13.11% of the company's net assets at the latest audit. THE ANNOUNCEMENT EMPHASIZES THAT THE COMPANY HAS A SOUND RISK CONTROL MECHANISM IN PLACE TO ENSURE THAT THE OVERALL RISK IS MANAGEABLE AND DOES NOT WORRY ABOUT OVERDUE INSURANCE. In addition, the announcement provides the most recent financial data of the insured party, as well as the main content of the hedging agreement.