Sinotruk enhances risk management in financial services agreements

Sinotruk Jinan Truck (SZSE:000951) is enhancing its risk management framework concerning financial service agreements with related parties, according to a series of announcements. To ensure funds security and operational compliance, the company has established a deposit business risk disposal plan for transactions with Sinotruk Automobile Finance Co., Ltd. and Shandong Heavy Industry Group Finance Co., Ltd. The plan includes preventative measures, risk assessment protocols, and emergency response procedures. Furthermore, Sinotruk has set up a leadership team overseeing risk prevention and disposal, emphasizing the need for transparent reporting and decisive action to mitigate potential risks. These related-party transactions are to facilitate efficient cash management and reduce financial costs. These actions will help protect the interests of all stakeholders in Sinotruk.