Qilu Expressway Co., Ltd. Class H (HK:1576) has released an update.
Qilu Expressway Co., Ltd. has provided a joint and several liability guarantee for a total of RMB 200 million to cover bank credits for its wholly-owned subsidiary, Shandong Shunguang Industrial, which is engaged in construction material sales. This financial maneuver, involving guarantees with Bank of Beijing and China Merchants Bank, is not considered a notifiable transaction under the Listing Rules. Shandong Shunguang Industrial reported a revenue of RMB 535,371 thousand in 2023 and RMB 196,409 thousand for the first half of 2024.
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