丽珠医药集团股份有限公司为子公司提供担保的进展公告深度解读
一、公告主要内容梳理
丽珠医药集团股份有限公司（证券代码：000513、01513，证券简称：丽珠集团、丽珠医药）发布了关于为子公司提供担保的进展公告。公告中指出，公司董事会全体成员保证信息披露内容真实、准确、完整。值得关注的是，本次担保对象珠海市丽珠单抗生物技术有限公司资产负债率已超过70%，提醒投资者需重视担保风险。
二、担保事项概述
公司于2024年9月27日召开董事会会议，并于2024年11月26日召开临时股东大会，通过了《关于本公司与控股附属公司丽珠单抗订立的2025年-2027年三年持续担保支持框架协议》的议案。协议规定，公司将在2025年1月1日至2027年12月31日期间，每年度为丽珠单抗向金融机构申请的授信融资提供连带责任担保，每年担保上限为人民币21亿元。
三、最新担保进展
2026年4月，公司先后与招商银行珠海分行、浦发银行珠海分行及平安银行珠海分行签署担保协议，为丽珠单抗提供最高额不可撤销担保与保证担保。具体担保情况如下：
- 招商银行：担保主债权本金最高额为30,000万元，担保期间为自担保书生效之日起至《授信协议》项下债务到期日另加三年。
- 浦发银行：担保主债权本金最高额为25,000万元，担保期间同上。
- 平安银行：担保主债权本金最高额为5,000万元，担保期间同上。
截至2026年4月30日，公司对丽珠单抗的担保余额为80,059.81万元。
四、被担保人基本情况及财务指标
珠海市丽珠单抗生物技术有限公司成立于2010年7月2日，注册资本为155,000万元，主要从事生物医药产品及抗体药物的技术研发、生产、销售及相关技术服务。丽珠集团对其持股比例为66.54%，属于控股子公司。截至2026年4月30日，未被列为失信被执行人。
财务指标（价格敏感信息）：
- 2026年3月31日（未经审计）：资产总额37,615.38万元，负债总额107,839.24万元，净资产为-70,223.80万元，营业收入1,202.92万元，净利润-4,726.44万元。
- 2025年12月31日（经审计）：资产总额43,680.00万元，负债总额122,177.39万元，净资产为-78,497.36万元，营业收入5,841.10万元，净利润-23,370.89万元。
值得注意的是，丽珠单抗连续亏损且净资产为负，资产负债率极高，风险明显。
五、累计担保情况及风险提示
截至2026年4月30日，公司担保额度总金额为1,377,825万元，对外担保余额为160,304.52万元，占公司最新一期归属于母公司股东净资产（1,388,835.06万元）的11.54%，均为对子公司担保。公司无对合并报表外单位提供担保，无逾期担保，无涉及诉讼的担保风险。
六、对股东及投资者的影响与风险提示
投资者需重点关注：
- 本次担保对象丽珠单抗资产负债率超过70%，且持续亏损，净资产为负，担保风险极高。
- 公司累计担保金额及对丽珠单抗的担保余额较大，若丽珠单抗无法如期偿还债务，公司可能面临较大财务风险。
- 公司目前无逾期担保和诉讼风险，但需持续关注丽珠单抗经营状况。
- 此项持续大额担保可能对公司股价产生负面影响，投资者应高度关注。
七、备查文件
公司已与三家银行签订相关担保合同，具体包括《最高额不可撤销担保书》、《最高额保证合同》和《最高额保证担保合同》。
八、结语
公司本次公告涉及的担保事项和财务风险具有高度关注价值，建议投资者密切关注丽珠单抗经营与偿债能力，以及丽珠集团整体风险控制情况。
免责声明：本文仅为信息披露解读，不构成投资建议。投资者据此操作，风险自担。请结合自身风险承受能力审慎决策。
Detailed Analysis of Livzon Pharmaceutical Group’s Guarantee Progress Announcement
1. Key Points of the Announcement
Livzon Pharmaceutical Group Co., Ltd. (Stock codes: 000513, 01513; Stock names: Livzon Group, Livzon Pharma) released an update on its provision of guarantees for its subsidiary. The board guarantees the truthfulness, accuracy, and completeness of the disclosed information. Importantly, the guaranteed party, Zhuhai Livzon Monoclonal Antibody Biotechnology Co., Ltd., has a debt-to-asset ratio exceeding 70%, highlighting significant guarantee risks for investors.
2. Overview of the Guarantee Arrangement
On September 27, 2024, the board and on November 26, 2024, the shareholders’ meeting approved a three-year framework agreement for continuous guarantee support with Livzon Monoclonal Antibody, covering 2025-2027. Livzon Group will provide joint liability guarantees each year for financing obtained by Livzon Monoclonal Antibody from financial institutions, with an annual guarantee cap of RMB 2.1 billion.
3. Latest Guarantee Progress
In April 2026, Livzon Group signed guarantee agreements with three banks: CMB Zhuhai Branch (RMB 300 million), SPDB Zhuhai Branch (RMB 250 million), and Ping An Bank Zhuhai Branch (RMB 50 million). All guarantees are joint liability guarantees, effective until three years after the debt maturity under the credit agreements. As of April 30, 2026, the guarantee balance for Livzon Monoclonal Antibody stands at RMB 800.5981 million.
4. Guaranteed Party’s Profile and Financials
Zhuhai Livzon Monoclonal Antibody Biotechnology Co., Ltd., founded July 2, 2010, has a registered capital of RMB 1.55 billion and mainly engages in biopharmaceutical and antibody drug R&D, production, and sales. Livzon Group holds 66.54% equity. As of April 30, 2026, it is not a discredited party.
Financial Indicators (Price-Sensitive):
- March 31, 2026 (unaudited): Assets RMB 376.1538 million, Liabilities RMB 1,078.3924 million, Net assets RMB -702.238 million, Revenue RMB 12.0292 million, Net loss RMB -47.2644 million.
- December 31, 2025 (audited): Assets RMB 436.8 million, Liabilities RMB 1,221.7739 million, Net assets RMB -784.9736 million, Revenue RMB 58.411 million, Net loss RMB -233.7089 million.
Livzon Monoclonal Antibody has sustained losses, negative net assets, and extremely high leverage, representing substantial risk.
5. Accumulated Guarantees and Risk Disclosure
As of April 30, 2026, Livzon Group’s total guarantee limit is RMB 13.77825 billion, with an external guarantee balance of RMB 1.6030452 billion—11.54% of the latest audited net assets attributable to parent shareholders. All guarantees are for subsidiaries. No guarantees for external entities, overdue guarantees, or guarantees involved in litigation.
6. Impact and Risk Reminder for Shareholders
For investors:
- The guaranteed party has an asset ratio over 70%, sustained losses, negative net assets, and high guarantee risk.
- Large guarantee amounts and balances could pose significant financial risks if Livzon Monoclonal Antibody defaults.
- No overdue guarantees or legal risks currently, but continued vigilance is needed.
- This ongoing, substantial guarantee could negatively impact Livzon Group’s share price.
7. Reference Documents
Contracts include “Irrevocable Maximum Guarantee Letter,” “Maximum Guarantee Contract,” and “Maximum Guarantee Contract.”
8. Conclusion
The guarantee arrangement and financial risk involved are significant and warrant close investor attention to Livzon Monoclonal Antibody’s operations and Livzon Group’s risk management.
Disclaimer: This article is for information interpretation only and does not constitute investment advice. Please make investment decisions carefully based on your own risk tolerance.
