Zhongke Electric provides 450m yuan in loan guarantees

Hunan Zhongke Electric Co has provided joint liability guarantees totaling 450 million yuan for two subsidiaries' financing arrangements with major banks.

The company guaranteed 250 million yuan for Hunan Zhongke Xingcheng Graphite's financing with China Everbright Bank and 200 million yuan for Yunnan Zhongke Xingcheng Graphite's deal with Bank of China.

Zhongke Electric's total external guarantees now stand at 627.8 million yuan, representing 134.33% of its net assets from the most recent audited period.