China Wuyi guarantees subsidiary's Construction Bank financing
China Wuyi (SZSE:000797) announced it will guarantee up to RMB 99 million (approximately USD 13.7 million) in financing for its wholly-owned subsidiary, Zhongwu (Fujian) Cross-border E-commerce Co., Ltd., from the Fujian branch of China Construction Bank. The guarantee was approved in accordance with previous board and shareholder resolutions that established an overall guarantee limit for subsidiaries. As of the latest audit, China Wuyi's total external guarantees, including this new commitment, represent 123.39% of its net assets. The actual outstanding guarantees account for 70.65% of net assets, with guarantees for entities exceeding a 70% debt-to-asset ratio also representing 70.65%. The company urges investors to carefully consider the risks associated with these guarantees.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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