Recently, Conch Cement issued a notice. The Company and its subsidiary Anhui Conch Environmental Protection Group Co., Ltd. provided guarantees of RMB625.81 million for Indonesia Conch Cement Co., Ltd., Tongchuan Conch Yaobai Environmental Protection Technology Co., Ltd., Shaoguan Haichuang Hongfeng Green Environmental Protection Technology Co., Ltd., Jinzhou Jinliyuan Environmental Protection Technology Co., Ltd. and other subsidiaries.
As at the date of this announcement, in addition to this guarantee, the Company and its subsidiaries have actually provided a guarantee balance of RMB952.52 million for the above guaranteed parties. The company said that the guarantee is to meet the daily operation or project construction needs of the relevant subsidiaries, in line with the company's overall interests and development strategy.