山高环能集团为下属公司提供重大担保，担保总额已超净资产260%

要点概述

• 重大担保事项：山高环能集团股份有限公司（证券代码：000803，简称“山高环能”）公告称，将为其全资子公司山高十方环保能源集团有限公司（简称“山高十方”）向莱商银行济南龙奥支行申请的3,000万元流动资金贷款提供连带责任保证担保，借款期限为3年。
• 担保风险提示：截至公告日，公司及控股子公司对外担保总额已高达372,177.38万元，约占公司最近一期经审计归属于母公司净资产的260.48%。对资产负债率超过70%的被担保对象的担保金额，也已超过净资产50%。公司特别提示投资者关注担保风险。
• 本次担保无须再次召开董事会或股东会：此次担保事项在既定担保额度范围内，不需再次提交董事会或股东大会审议。

详细内容

一、担保事项及审议流程

山高十方向莱商银行申请3,000万元流动资金借款，期限为3年。山高环能将为该笔贷款提供连带责任保证担保。这一担保额度已在2025年4月21日召开的公司第十一届董事会第二十次会议及2025年5月14日召开的2024年年度股东大会的年度对外担保额度预计议案中获批。公司2024年年度股东大会已授权，12个月内公司为合并报表范围内的下属公司提供担保的额度不超过265,500万元。

二、被担保方基本情况

• 公司全资子公司：山高十方环保能源集团有限公司
• 注册资本：43,000万元人民币
• 注册地：山东自贸区济南片区新泺大街888号10楼
• 主营业务涵盖餐厨垃圾处理、城市生活垃圾经营性服务、污水处理与再生利用、固体废物治理、生物质燃气生产与供应等。
• 2025年9月30日（未经审计）资产总额：477,721.50万元，负债总额：405,540.48万元，净资产：71,619.73万元。
• 2025年前9个月营业收入97,947.68万元，净利润2,929.79万元。
• 非失信被执行人。

三、保证合同主要内容

• 保证方式：连带责任保证，若山高十方未履行主合同项下债务，山高环能将承担全部连带清偿责任。
• 保证范围：包括主债权本金、利息、复利、罚息、违约金、损害赔偿金及实现债权的一切相关费用。
• 保证期间：自主合同约定债务履行期限届满之日起三年。如展期或债务提前到期，保证期间相应顺延。

目前相关协议尚未正式签署，具体内容以最终签署文本为准。

四、公司担保总体情况及风险提示

• 截至公告日，公司为合并报表内子公司担保余额为313,397.38万元，占净资产219.34%。
• 控股子公司为公司提供担保余额31,780.00万元，占净资产22.24%。
• 控股子公司之间担保余额27,000万元，占净资产18.90%。
• 三者合计担保余额372,177.38万元，占净资产260.48%。
• 公司及控股子公司未对报表外单位担保，无逾期担保。

连带担保责任意味着一旦子公司无法履约，母公司需无条件承担债务偿还。如此大规模的担保余额已远超公司净资产，潜在财务风险极高，若未来部分担保需实际履约，或将对公司资金流动和资本结构构成重大影响，甚至直接影响公司股价。

投资者须知

本公告显示公司整体担保规模极高，财务杠杆风险显著。投资者应高度关注潜在风险，密切留意公司财务状况变化，以及后续担保相关合同的签署、执行情况。此类高额担保事项，若产生不利变动，极可能影响公司盈利能力和股东权益，具有高度价格敏感性。

免责声明

本文为信息披露整理，不构成任何投资建议。投资者据此操作，风险自负。请以公司正式公告及相关法规为准。

English Version:

Shangao Environmental Group Provides Substantial Guarantees Exceeding 260% of Net Assets

Key Points Overview

• Significant Guarantee Event: Shangao Environmental Group Co., Ltd. (Stock Code: 000803, “Shangao Environmental”) announced it will provide a joint liability guarantee for its wholly-owned subsidiary, Shangao Shifang Environmental Energy Group Co., Ltd. (“Shangao Shifang”) for a RMB 30 million working capital loan from Laishang Bank Jinan Long’ao Branch, with a term of 3 years.
• Guarantee Risk Warning: As of the announcement date, the company and its subsidiaries have total guarantees amounting to RMB 3,721.77 million, which is about 260.48% of the latest audited net assets attributable to the parent company. The amount of guarantees for entities with an asset-liability ratio above 70% also exceeds 50% of net assets. Investors are specifically reminded to pay close attention to guarantee risks.
• No Need for Additional Board or Shareholder Meetings: This guarantee is within the previously approved annual guarantee limit, so no further board or shareholder meeting is required.

Details

1. Guarantee Event and Approval Process

Shangao Shifang applies for a RMB 30 million working capital loan from Laishang Bank for 3 years, with Shangao Environmental providing a joint liability guarantee. The guarantee limit was already approved at the 20th meeting of the 11th Board of Directors (Apr 21, 2025) and the 2024 Annual General Meeting (May 14, 2025). The company is authorized to provide up to RMB 2,655 million in guarantees for subsidiaries within 12 months.

2. Basic Information about the Guaranteed Party

• Wholly owned subsidiary: Shangao Shifang Environmental Energy Group Co., Ltd.
• Registered capital: RMB 430 million
• Location: 10/F, No. 888 Xinluo St., Jinan, Shandong FTZ
• Main businesses: food waste treatment, urban domestic waste services, sewage treatment and reuse, solid waste management, biomass gas production and supply, etc.
• As of Sep 30, 2025 (unaudited): total assets RMB 4,777.22 million, total liabilities RMB 4,055.40 million, net assets RMB 716.20 million.
• Jan-Sept 2025 revenue: RMB 979.48 million; net profit: RMB 29.30 million.
• Not a dishonest executor.

3. Main Contents of the Guarantee Contract

• Guarantee method: Joint liability. If Shangao Shifang defaults, Shangao Environmental must repay all debts unconditionally.
• Guarantee scope: Principal, interest, penalties, damages, and all costs related to debt recovery.
• Guarantee period: 3 years from the due date of the main contract debt. Extensions and early maturity are also covered.

The agreement is not yet signed; final terms subject to the formal contract.

4. Overall Company Guarantee and Risk Alert

• Guarantee balance for consolidated subsidiaries: RMB 3,133.97 million (219.34% of net assets).
• Subsidiaries’ guarantee to the parent: RMB 317.80 million (22.24%).
• Inter-subsidiary guarantees: RMB 270 million (18.90%).
• Total: RMB 3,721.77 million (260.48%).
• No guarantees provided to external entities outside the consolidation; no overdue guarantees.

The joint liability structure means that if the subsidiary defaults, the parent company must repay all debt. The guarantee scale is extremely high relative to net assets, posing significant financial risk. If any guarantees are called, it could impact liquidity, capital structure, and potentially the share price.

Investor Notice

This announcement shows the company’s overall guarantee scale is very high, and financial leverage risk is significant. Investors should pay close attention to potential risks, monitor the company’s financial position, and follow up on the signing and execution of related contracts. Material adverse changes in these guarantees could significantly impact profitability and shareholder value, making this highly price-sensitive information.

Disclaimer

This article is for information disclosure purposes only and does not constitute investment advice. Investors act at their own risk. Please refer to official company announcements and regulations.

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