FUDA ALLOY: Provides a guarantee of 100 million yuan for its wholly-owned subsidiary FUDA Technology
On June 24th, FUDA ALLOY announced that the company provided a joint liability guarantee of 100 million yuan for its wholly-owned subsidiary, Zhejiang FUDA ALLOY Material Technology Co., Ltd., for its bank credit line. After this guarantee, the total amount of external guarantees by the company and its holding subsidiaries is 1.97 billion yuan, accounting for 202.90% of the company's most recent audited net assets. The company has fulfilled the necessary internal decision-making procedures and believes that this guarantee will help the subsidiary's business development, with controllable risks
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