Concord New Energy Group (HK:0182) has released an update.
Concord New Energy Group Limited’s wholly-owned subsidiary, Century Concord Wind Power, has entered into new guarantee agreements with CITIC Bank and China Merchants Bank, aimed at securing loans for a joint venture company while providing counter-guarantee protections. This strategic financial move, involving connected transactions, adheres to the Listing Rules, requiring annual reviews but exempt from more stringent approval processes. It represents Concord New Energy’s commitment to bolstering its joint venture’s financial stability without jeopardizing its assets.
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