Megmeet increases subsidiary guarantees to 1.1bn yuan

Shenzhen Megmeet Electrical has increased guarantees for subsidiaries including Hunan Megmeet Electrical and Zhejiang Megmeet Electrical Technology, totaling 1.1 billion yuan.

The company's total guarantees for subsidiaries with asset-liability ratios over 70% now stand at 350 million yuan, representing 5.82% of last audited net assets.

Megmeet is also managing 900 million yuan in idle raised funds from 2019 and 2022 bonds for wealth management, generating over 3 million yuan in investment income within twelve months.