JCHX increases guarantees for subsidiaries, notes high debt ratios

JCHX Mining Management (SSE:603979) has announced new guarantees for its subsidiaries, signaling confidence in their operations despite noted financial risks. The company is increasing its guarantee for Conest Resources by $170 million, bringing the total guaranteed amount to $170 million. The actual amount being fulfilled is $85 million. Separately, JCHX is also increasing its guarantee for Hubei JCHX Mining Services by RMB 10 million, bringing the total guaranteed amount to RMB 29 million. The company has stated that the two subsidiaries have asset-liability ratios exceeding 70%. JCHX says the guarantees are in line with company strategy and will support continued operations.