南钢股份发布对外担保进展公告，涉及印尼金祥新能源
要点摘要
- 担保金额：本次为控股子公司PT. KinXiang New Energy Technologies Indonesia（印尼金祥新能源）提供担保，金额为1,590万美元（折合人民币10,901.36万元）。
- 授信银行：交通银行江苏省分行。
- 担保方式：连带责任保证。
- 担保期间：主合同项下债务履行期限届满（或债权人垫付之日）后三年。
- 最新对外担保总额：截至公告日，公司及控股子公司对外担保总额为65.93亿元，占最近一期经审计净资产的23.79%。
- 被担保方资产负债率高：金祥新能源资产负债率高于70%，本次为其提供担保属于高风险事项。
- 被担保方财务状况：2026年一季度末资产总额8.16亿美元，负债总额6.81亿美元，净资产1.35亿美元，2026年一季度净亏损456.56万美元，2025年度净亏损1,639.87万美元。
- 无反担保措施：本次担保无反担保。
- 公司合规性：本次担保在年度股东大会审议通过的额度范围内。
- 无逾期担保：截至公告日，公司无逾期担保。
详细解读
南京钢铁股份有限公司（南钢股份）于2026年5月6日与交通银行江苏省分行签署了《保证合同》，为控股子公司——印尼金祥新能源科技有限公司（PT. KinXiang New Energy Technologies Indonesia，简称“金祥新能源”）的授信业务提供连带责任保证，担保主债权本金余额最高不超过1,590万美元（约合人民币1.09亿元）。值得注意的是，金祥新能源的其他股东未为本次授信承担担保责任。这意味着，南钢股份作为控股股东，需要独自承担全部担保风险。
本次担保增加后，南钢股份2026年为金祥新能源累计新增担保额度为10,901.36万元，剩余可用新增担保额度为133,098.64万元，未超过2026年度股东大会通过的担保总额度（14.4亿元）。
内部决策程序完备
本次担保事项已于2026年1月9日经公司第九届董事会第十四次会议以及2026年1月26日召开的2026年第一次临时股东大会审议通过，符合公司治理要求。
被担保方基本情况——经营压力较大
- 金祥新能源为南钢股份控股子公司，注册资本16,393.68万美元，主要从事煤炭及相关产品的生产与贸易。
- 2026年3月31日资产总额81,573.60万美元，负债总额68,074.36万美元，净资产13,499.24万美元，2026年第一季度净亏损456.56万美元，2025年全年净亏损1,639.87万美元。
- 由此可见，金祥新能源当前经营压力较大，资产负债率高，且连续亏损。
- 主要股东结构：南钢股份间接持股51%，其余股东包括旭阳投资、江苏沙钢煤焦投资等。
担保协议主要内容
- 银行：交通银行江苏省分行
- 担保方式：连带责任保证
- 担保主债权本金余额最高额：1,590万美元
- 保证期间：自债务到期（或垫付之日）起三年
- 反担保：无反担保措施
风险提示及对公司影响
- 本次担保对象金祥新能源资产负债率超过70%，属于高风险担保事项。
- 公司表示已制定严格的信用审查和保障措施，认为担保风险可控，对公司正常经营和财务状况不会产生不利影响。
- 截至公告出具日，公司无为控股股东、实际控制人及其关联人提供担保事项，亦无逾期担保情形。
投资者须知及潜在影响
本次担保事项虽在年度股东大会通过的额度范围内，但涉及金额大、对资产负债率高且经营亏损的境外控股子公司提供无反担保的连带责任保证，存在一定财务风险。若被担保公司无法按期履约，南钢股份将面临代偿责任，可能对公司财务状况和股东回报带来不利影响。对此，投资者需保持高度关注，这一事项具备一定的信息披露敏感性，可能对公司股价产生影响。
免责声明：本文内容基于公司公告整理，仅供投资参考，不构成任何投资建议。投资有风险，敬请投资者理性决策。
English Version (for reference only):
Nanjing Iron & Steel Issues Progress Announcement on External Guarantees Involving Indonesian Subsidiary
Key Highlights
- Guarantee Amount: The company provides a guarantee for its subsidiary PT. KinXiang New Energy Technologies Indonesia (“KinXiang New Energy”) for USD 15.9 million (RMB 109.01 million).
- Lending Bank: Bank of Communications, Jiangsu Branch.
- Guarantee Mode: Joint and several liability guarantee.
- Guarantee Period: Three years after the expiration of the principal debt or after the lender pays on behalf of the debtor.
- Total Guarantees: As of the announcement date, total external guarantees by the company and its subsidiaries amount to RMB 6.593 billion, 23.79% of most recent audited net assets.
- High Leverage of Guaranteed Party: The guaranteed subsidiary has a debt-to-asset ratio over 70% (high-risk).
- Subsidiary’s Financial Status: As of Q1 2026, KinXiang New Energy had assets of USD 815.7 million, liabilities of USD 680.7 million, net assets of USD 135 million, and a net loss of USD 4.56 million in Q1 2026 and USD 16.39 million in 2025.
- No Counter-Guarantee: No counter-guarantee arrangement.
- Compliance: Within the annual guarantee limit approved by shareholders’ meeting in 2026.
- No Overdue Guarantees: No overdue guarantees as of the announcement date.
Detailed Analysis
Nanjing Iron & Steel Company (NISCO) signed a Guarantee Contract with Bank of Communications Jiangsu Branch on May 6, 2026, providing a joint and several liability guarantee for its subsidiary PT. KinXiang New Energy Technologies Indonesia’s credit line, up to USD 15.9 million (approx. RMB 109 million). Other shareholders of the subsidiary do not provide guarantees, hence NISCO bears all guarantee risk.
After this guarantee, the company’s total new guarantee for KinXiang New Energy in 2026 is RMB 109.01 million, with remaining available quota of RMB 1.33 billion, not exceeding the annual limit (RMB 1.44 billion) approved by the shareholders’ meeting.
Internal Decision Process
The guarantee was approved by the board and the shareholders’ meeting in January 2026, in accordance with corporate governance requirements.
Guaranteed Party’s Situation – Under Pressure
- KinXiang New Energy is a NISCO-controlled subsidiary with USD 163.9 million registered capital, focusing on coal and related products.
- As of March 31, 2026: assets USD 815.7 million, liabilities USD 680.7 million, net assets USD 135 million, net loss USD 4.56 million (Q1 2026), net loss USD 16.39 million (2025).
- Shows high leverage and operational losses.
- Shareholding: NISCO indirect 51%, other investors include Xuyang, Shagang, etc.
Key Contract Terms
- Bank: Bank of Communications, Jiangsu Branch
- Guarantee Mode: Joint and several liability
- Maximum Principal Guaranteed: USD 15.9 million
- Guarantee Period: Three years after debt expiry or lender payment
- Counter-Guarantee: None
Risk Notice and Impact
- KinXiang New Energy is highly leveraged (>70%).
- No counter-guarantee; NISCO solely bears the guarantee risk.
- Company claims risks are manageable, and the guarantee will not adversely affect its operations or finances.
- No guarantees for controlling shareholders or overdue guarantees as of the announcement date.
Investor Takeaways and Market Impact
Although within approved limits, the guarantee carries credit risk due to the high leverage and ongoing losses of the guaranteed subsidiary, and the absence of counter-guarantees. If the guaranteed party defaults, NISCO may have to fulfill the obligation, potentially impacting its financials and shareholder returns. This is a price-sensitive disclosure and may affect share prices.
Disclaimer: This article is based on company disclosures and is for reference only. It does not constitute investment advice. Please make independent decisions and be aware of investment risks.
