Yutong Bus announces new subsidiary guarantees in April

Zhengzhou Yutong Bus (SSE:600066) announced the progress of its annual guarantee plan, revealing new guarantees issued in April. The guarantees, approved by the 2024 Annual General Meeting, primarily support its wholly-owned subsidiaries, including Hong Kong Yutong International Limited and YUTONG FRANCE S.A.S. The total value of guarantees extended to subsidiaries reached CNY 29,828,520. Additionally, the company provided CNY 1,356,000 in guarantees to homebuyers applying for mortgage loans through its employee housing project subsidiaries. As of the announcement date, Yutong Bus has no overdue guarantees. The company's cumulative guarantees to subsidiaries amount to CNY 1,908,000,000, representing 14.22% of its latest audited net assets. Guarantees for sales-related businesses stand at CNY 4,000,000, or 0.03% of net assets.