State-owned company in Guiyang performs well in Q1

Guiyang Industrial Control and Guarantee Co, a State-owned company based in Guiyang – capital city of Southwest China's Guizhou province – performed very well in the first quarter of the year, according to a statement released by the group on April 19.

The company's self-operated business generated cashflow of 432 million yuan ($66.78 million) in Q1, with operating income coming in at 5.04 million yuan. Its capital pool business generated 1.09 billion yuan, supporting a total of 44 enterprises.

The company secured three new lines of credit from banks in Q1, totaling 900 million yuan. To date, the company has obtained credit lines from 14 banks including China Everbright Bank, China Construction Bank, the Bank of Guizhou and the Industrial Bank, with total credit amounting to 5.5 billion yuan.

In terms of business risk control, in the first quarter, a total of 50 project risk control investigations were completed, involving 47 projects. In addition, 36 loan reviews were completed and 107 post-guarantee inspections were completed.

Moving forwards, the company will clarify various work objectives in the second quarter and refine measures to ensure the smooth completion of various tasks in Q2.