Roo Hsing Announces Improvement Status of Subsidiary's Exceeded Endorsement Guarantee Limit
📋 Article Processing Timeline
- 📰 Published: May 14, 2026 at 09:00
- 🔍 Collected: May 15, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 15, 2026 at 08:04 (3 min after Collected)
Roo Hsing Co., Ltd. issued an announcement on behalf of its 100% indirectly owned subsidiary, Changzhou Dongao Garment Co., Ltd., regarding the improvement status of exceeding the endorsement guarantee limit. Dongao Garment provided endorsement guarantees for other subsidiaries, Nanjing Xingao Trade Co., Ltd. and Changzhou Suiman International Trade Co., Ltd., which exceeded the internally set limits, violating operating procedures. Since Dongao's net worth remains negative, Roo Hsing will continue to urge the subsidiary to implement improvements. Quarterly updates will be provided to the Board and reported at the next shareholders' meeting.