三维控股集团为内蒙古三维新材料有限公司提供重大担保，担保总额已超净资产

要点概览

• 三维控股集团股份有限公司（证券代码：603033，简称“三维股份”）为控股子公司内蒙古三维新材料有限公司提供了共计5,000万元的连带责任保证。
• 上市公司及控股子公司对外担保总额达到376,383.34万元，占公司最近一期经审计净资产的120.69%，已远超净资产。
• 本次及累计担保事项均在前期董事会及股东大会授权额度内，无逾期担保记录。
• 公司资产负债率高，部分被担保单位资产负债率超过70%。
• 担保对象内蒙古三维新材料有限公司近两年持续亏损，2025年前三季度净亏损2.44亿元。

详细内容

三维控股集团股份有限公司近期发布公告称，为支持控股子公司内蒙古三维新材料有限公司业务发展，与远宏商业保理（天津）有限公司签署《保证函》，为其提供5,000万元的连带责任保证。此次担保金额在2025年度董事会及2024年年度股东大会批准的年度总担保额度（不超过400,000万元）之内，担保额度可循环使用。

内蒙古三维新材料有限公司由三维控股集团持有90%股权，注册资本为17.66亿元人民币，成立于2021年，主要从事化工产品生产与销售、新材料技术研发及推广等业务。2025年9月30日，公司资产总额为59.57亿元，负债总额为46.37亿元，资产净额仅为13.20亿元。2025年前三季度营业收入为11.22亿元，但净利润亏损2.44亿元，去年同期亦亏损0.30亿元，显示盈利压力较大，资产负债率较高。

担保协议主要内容：三维控股集团为内蒙古三维新材料有限公司与远宏保理之间保理合同项下的全部债务（包括回收款及融资利息）承担连带责任保证，债务本金为5,000万元。

截至公告披露日，三维控股集团及其控股子公司对全资或控股子公司的担保余额为311,324.23万元，占公司最近一期经审计净资产的99.83%；为合营企业四川三维轨道交通科技有限公司担保57,979.11万元（占净资产18.59%）；为合资企业台州市山强建筑工业化有限公司担保7,080万元（占净资产2.27%）。公司无逾期担保记录。

风险提示：目前公司整体对外担保总额已达376,383.34万元，占净资产120.69%，明显高于行业警戒线，存在较高的财务风险。部分被担保单位资产负债率超过70%，且被担保公司经营业绩持续亏损，或对公司业绩和股价带来较大不确定性和波动性。公司强调，将密切关注被担保企业的经营及财务状况，认为风险可控，但投资者需高度关注相关风险。

投资者需重点关注事项

• 公司对外担保总额已大幅超过净资产，属于高风险财务操作，若被担保方发生违约，将对公司资金链及资产负债表产生重大影响，或对股价造成冲击。
• 担保对象近两年持续亏损，短期内盈利能力难以保证，存在较大业绩不确定性。
• 虽然担保事项属董事会和股东大会事先批准权限范围内，但高负债、高担保操作值得投资者保持高度警惕。

免责声明：本新闻稿件仅供投资者参考，不构成任何投资建议。投资者据此操作，风险自担。

English Version

Sanwei Holdings Provides Significant Guarantee to Inner Mongolia Sanwei New Materials; Total Guarantees Exceed Net Assets

Key Points Overview

• Sanwei Holdings Co., Ltd. (Stock code: 603033) provides a RMB 50 million joint liability guarantee to its subsidiary Inner Mongolia Sanwei New Materials Co., Ltd.
• Total external guarantees by the listed company and its subsidiaries reach RMB 3.76 billion, accounting for 120.69% of the company’s most recently audited net assets—far above its net asset value.
• All guarantees, including this one, were pre-approved by the board and shareholders’ meeting. No overdue guarantees reported.
• High financial leverage: Some guaranteed units have an asset-liability ratio over 70%.
• The guaranteed subsidiary, Inner Mongolia Sanwei, has suffered continuous losses, with a net loss of RMB 244 million in the first three quarters of 2025.

Details

Sanwei Holdings recently announced it will provide a RMB 50 million joint liability guarantee to its majority-owned subsidiary, Inner Mongolia Sanwei New Materials, to support its business cooperation with Yuanhong Commercial Factoring (Tianjin) Co., Ltd. This guarantee falls within the annual total guarantee limit of RMB 4 billion approved by the 2025 board and the 2024 annual shareholders’ meeting, and the quota can be used on a rolling basis.

Inner Mongolia Sanwei New Materials Co., Ltd., 90% held by Sanwei Holdings, was established in 2021 with a registered capital of RMB 1.766 billion. It engages in chemical products manufacturing and sales, new materials R&D, and related businesses. As of September 30, 2025, total assets were RMB 5.96 billion, liabilities RMB 4.64 billion, and net assets RMB 1.32 billion. Revenue for the first three quarters of 2025 was RMB 1.12 billion, but the net loss was RMB 244 million, indicating significant profitability pressure and a high asset-liability ratio.

Guarantee Contract Details: Sanwei Holdings provides joint liability for all debts (including repayments and financing interest) owed by Inner Mongolia Sanwei to Yuanhong Factoring under the factoring contract; the principal debt stands at RMB 50 million.

As of this disclosure, Sanwei Holdings and its subsidiaries’ guarantees to wholly-owned or controlled subsidiaries total RMB 3.11 billion (accounting for 99.83% of net assets), to joint venture Sichuan Sanwei Rail Transit Technology Co., Ltd. RMB 580 million (18.59%), and to JV Taizhou Shanqiang Construction Industrialization Co., Ltd. RMB 70.8 million (2.27%). No overdue guarantees reported.

Risk Warning: The company’s total external guarantees have reached RMB 3.76 billion, accounting for 120.69% of net assets, well above industry risk thresholds and posing significant financial risk. Some guaranteed units have asset-liability ratios above 70%, and the guaranteed company is reporting continued losses. These factors may have a material impact on the company’s performance and share price volatility. The company claims risks are controllable but investors should remain highly alert.

Key Issues for Investors

• External guarantees now far exceed net assets, representing high financial risk. Any default by guaranteed parties could severely impact the company’s cash flow and balance sheet, with potential share price repercussions.
• The guaranteed subsidiary has suffered consecutive years of losses, casting doubt on short-term profitability and adding uncertainty to performance.
• Although all guarantees are within pre-approved limits, high leverage and guarantee exposure warrant investor vigilance.

Disclaimer: This news article is for reference only and does not constitute investment advice. Investors act at their own risk.

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