ZHONGGAN COMM (02545) Provides Guarantee for Subsidiary's Bank Credit Facility

Stock News

Sep 02

ZHONGGAN COMM (02545) announced that the company has provided a guarantee with a maximum amount of RMB 250 million to Ganzhou Bank Co., Ltd. Qingshan Lake Branch. This guarantee is intended to ensure that the company's wholly-owned subsidiary, ZHONGGAN COMM (Group) Co., Ltd., properly fulfills its relevant obligations under the financing agreement signed with the bank and the bank credit terms.

The announcement stated that signing the financing agreement can provide additional financing resources for ZHONGGAN COMM's business operations to strengthen its cash flow management and address uncertainties in global and local economies, which is beneficial to the group.

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