三峡水利2025年度担保计划进展详解

要点摘要

• 2026年3月无新增担保：三峡水利及子公司在2025年度担保计划内，2026年3月未发生新增担保事项。
• 与重庆市科尔科克新材料有限公司担保终止：此前为重庆市科尔科克新材料有限公司（参股公司）提供的担保已于2026年3月14日终止，累计担保额度2.3978亿元，未使用额度1222.2万元。
• 担保余额及额度充足：截至2026年3月31日，三峡水利及其子公司累计担保余额为11.548391亿元，担保总额为31.048391亿元（含未使用额度19.5亿元），占2024年经审计归母净资产的28.15%。
• 无逾期担保：截至公告披露日，公司及子公司不存在逾期担保。

详细内容

一、2025年度担保计划概述

公司于2025年4月23日、6月27日通过董事会及2024年年度股东大会审议通过了2025年度担保计划。计划中，新增担保总额不超过19.5亿元，由总经理办公会具体负责处理，担保对象为公司5家全资子公司（7.5亿元）及1家控股子公司（2亿元），并开展票据池业务，公司及子公司之间互保额度不超过10亿元。担保额度有效期为自股东大会批准日至下一次股东大会重新核定前。

二、担保计划进展

2026年3月，公司及子公司未新增和解除担保事项。值得注意的是，公司全资子公司聚龙电力的参股公司科尔科克公司向浦发银行重庆分行偿还了955万元贷款，按持股比例解除聚龙电力300.825万元担保责任。

三、担保必要性与合理性分析

公司表示，担保计划是基于实际经营和资金安排，为满足部分所属公司资金需求而制定。所有被担保方均为公司全资及控股子公司，公司对其生产经营有充分控制，整体担保风险可控，不会对三峡水利的正常经营、财务状况及经营成果造成不利影响。

四、董事会意见

董事会认为被担保对象经营稳定，具备履约能力，公司对其有充分控制，整体风险可控。计划新增担保额度19.5亿元，授权总经理办公会具体处理，确保子公司资金需求及健康可持续发展。

五、累计担保及逾期情况

• 截至2026年3月31日，担保总额为31.048391亿元（含尚未使用额度19.5亿元），占2024年经审计归属于上市公司股东净资产的28.15%。
• 所有担保均为公司全资、控股子公司、合营公司及子公司之间，不存在为控股股东、实控人及关联人提供担保，也不存在逾期对外担保。

对投资者的重要提示

• 担保规模整体可控：担保额度占净资产比例不到30%，未见大幅增加，且全部为内部公司担保，风险可控。
• 无逾期及异常事项：当前公司无逾期担保，担保行为规范，有助于维护公司整体信用及财务稳健性。
• 担保计划进展平稳：担保计划未出现突发大额增减，对公司经营影响有限，暂无明显价格敏感信息。

潜在影响分析

• 本次公告为定期担保计划进展披露，未涉及重大新增或解除担保，整体信息中性。
• 管理层强调担保风险可控，未见异常财务风险，对公司估值及价值得分影响有限。
• 如未来担保规模显著扩大或发生逾期，或可能影响公司信用及估值，投资者需持续关注。

结论

本次三峡水利关于2025年度担保计划的进展公告显示，公司担保总额稳定，风险可控，无逾期担保或异常事项。对公司当前经营状况及股东权益影响有限，投资者可保持关注但无需过度担忧。

免责声明：本文仅为根据公开信息整理的新闻报道，不构成任何投资建议。投资者请根据自身实际情况审慎决策。

English Version

Detailed Update on Sanxia Water Utility’s 2025 Guarantee Plan

Key Points

• No New Guarantees in March 2026: The company and its subsidiaries did not add any new guarantees during March 2026 under the 2025 plan.
• Termination of Guarantee for Chongqing Kork New Materials Co.: The guarantee provided to the associate company, Chongqing Kork New Materials Co., was terminated on March 14, 2026, involving a cumulative guarantee amount of RMB 239.78 million, with RMB 12.22 million unused.
• Sufficient Guarantee Balance and Limits: As of March 31, 2026, the company and its subsidiaries had a guarantee balance of RMB 1.1548391 billion, with a total guarantee amount of RMB 3.1048391 billion (including RMB 1.95 billion unused), representing 28.15% of audited 2024 net assets attributable to shareholders.
• No Overdue Guarantees: As of the disclosure date, there are no overdue guarantee liabilities.

Details

1. Overview of 2025 Guarantee Plan

The plan was approved by the board and shareholders on April 23 and June 27, 2025. It authorizes new guarantees up to RMB 1.95 billion, managed by the GM’s office. The plan covers five wholly owned subsidiaries (RMB 750 million), one controlling subsidiary (RMB 200 million), and up to RMB 1 billion in mutual guarantees for bill pool business. Validity is until the next shareholder meeting.

2. Progress

No new or released guarantees occurred in March 2026. Kelong Power, a wholly owned sub, relieved a RMB 3.00825 million guarantee due to repayment of a RMB 9.55 million loan by its associate, Kork Company, to SPD Bank Chongqing.

3. Necessity and Rationality

The guarantee plan is based on operational and financial needs, covering only controlled subsidiaries. The company maintains control and oversight, keeping overall risk manageable and not adversely impacting its operations, finances, or results.

4. Board Opinion

The board deems the subjects stable and creditworthy, with the company maintaining effective risk control. The plan authorizes RMB 1.95 billion in new guarantees, delegated to the GM office, supporting the healthy development of subsidiaries.

5. Cumulative and Overdue Guarantees

• As of March 31, 2026, total guarantees were RMB 3.1048391 billion (including RMB 1.95 billion unused), 28.15% of 2024 audited net assets.
• All guarantees are internal, with no arrangements for controlling shareholders, actual controllers, or related parties. No overdue external guarantees exist.

Implications for Investors

• Guarantee scale under control: Less than 30% of net assets, all internal, with controllable risks.
• No overdue or abnormal guarantees: All guarantees are compliant and support overall financial stability.
• Stable guarantee plan progress: No unexpected large changes, limited impact on operations and share price.

Potential Impact Analysis

• This is a periodic update with no major new or released guarantees; overall, the information is neutral.
• Management highlights risk control; no abnormal financial risks, limited impact on valuation or share price.
• Any future significant increase in guarantees or overdue events could affect company credit and valuation; investors should stay alert.

Conclusion

This update indicates stable guarantee amounts and manageable risk, with no overdue or abnormal guarantees. The impact on operations and shareholder value is limited; investors can monitor but need not be overly concerned.

Disclaimer: The above content is compiled from public information and is not investment advice. Investors should make prudent decisions based on their individual circumstances.

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