Recently, Guizhou Tire announced that the company's overseas wholly-owned company Qianjin Tire (Vietnam) Co., Ltd. had raised funds for the construction of an annual output of 1.2 million all-steel radial tires in Vietnam.It plans to apply for a fixed asset loan of no more than US$150 million to the Guizhou Branch of the Export-Import Bank of China, with a term of 8 years. Guizhou Tire intends to provide joint liability guarantee for the Vietnamese company's loan.
  After the implementation of this guarantee, Guizhou Tire provided a guarantee amount for the Sun Company not exceeding US$150 million.According to the central parity of the US dollar against the RMB exchange rate of 6.9945 on November 8, 2019, it was RMB 104,171,500, accounting for 30.83% of the company's audited net assets at the end of 2018.
  Guizhou Tire's new factory in Vietnam is located in Longjiang Industrial Park, Qianjiang Province, Vietnam. The total investment of the project is 400 million US dollars. The planned total land area is about 301 acres and the total construction area is about 137,300 square meters.After the project is completed and put into production, the annual production capacity of all-steel radial tires will be 1.2 million.
(R-11)