Hainan Airport provides 100 million yuan guarantee for its holding subsidiary.
Hainan Airport Facilities Co., Ltd. announced that its wholly-owned subsidiary Island Commercial and Citi Bank Haikou Branch have signed a 200 million yuan "Comprehensive Credit Contract". Hainan Airport will provide a guarantee for 100 million yuan of the loan amount with joint liability guarantee, with a guarantee period of 3 years and no counter-guarantee. The actual guarantee balance of the company for Island Commercial was zero before this. This guarantee is within the approved limit of the shareholders' meeting. Island Commercial has good operational conditions and debt repayment capabilities, and the guarantee risk is controllable. As of the announcement date, the total amount of external guarantees provided by the company and its holding subsidiaries is 316.3461 million yuan, accounting for 1.35% of the most recent audited net assets, with no overdue external guarantee.
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