Ming Yang guarantees 400m yuan subsidiary debt

Ming Yang Smart Energy Group will provide a joint and several liability guarantee of up to 400 million yuan to its wholly-owned subsidiary, Hainan Mingyang Smart Energy, for a fixed asset loan from China Merchants Bank.

The company's total external guarantees amount to 558.4 billion yuan, representing 21.28% of its latest audited net assets.

Separately, Ming Yang is investing 500 million yuan of idle raised funds into a 25-day structured deposit with China Construction Bank, with an expected annual yield of 0.65%-2.40%.