FilingReader Intelligence

Hainan Rubber secures $229.5m income insurance deal

March 4, 2025 at 05:12 AM UTCBy FilingReader AI

China Hainan Rubber Industry Group (SSE:601118) announced it has signed a 229.5 million yuan ($31.8 million USD) insurance agreement for its 2025 rubber income. The agreement, signed with several insurance companies including China Pacific Property Insurance and PICC Property Insurance, aims to mitigate losses due to natural disasters, extreme weather conditions, and market price fluctuations affecting natural rubber production. The insurance covers potential revenue shortfalls if actual rubber production falls below target levels. Hainan Rubber will bear 20% of the premium (45.9 million yuan), with the remaining 80% subsidized by the central and local governments. The total insured amount is 1.53 billion yuan, covering the company's natural rubber output for the year.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SSE:601118Shanghai Stock Exchange
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