隆基绿能科技股份有限公司2026年4月担保进展详细解读

一、报告要点概述

• 本期新增担保金额：本公司及其子公司2026年4月新增担保金额为160,038.54万元，累计实际担保余额达2,415,159.02万元。
• 累计担保总额：截至2026年4月末，公司及其控股子公司累计担保总额为2,451,313.04万元，占公司最近一期经审计净资产的45.16%。
• 担保主要对象：担保对象覆盖公司全资及控股子公司，涉及中美欧多家重要经营实体。
• 无逾期担保、无对外控股股东及其关联人担保、无超额担保风险。

二、详细披露内容

1. 新增担保事项详细说明

• 银行保函担保：
  • 为全资子公司隆基乐叶光伏科技有限公司（及其香港、美国、西班牙、德国等子公司）日常经营业务开立银行保函合计47,548.43万元。
  • 为控股子公司西安隆基氢能科技有限公司银行保函883.00万元。
  • 隆基乐叶为其西班牙、香港子公司开立银行保函7,565.96万元。
• 履约担保：
  • 隆基乐叶为LONGi Solar Technology (U.S.) Inc. 组件销售业务提供履约担保79,570.78万元，担保期限至交付完成。
  • LONGI (H.K.) TRADING LIMITED为LONGI SOLAR TECHNOLOGY SPAIN, S.L.U.组件销售业务履约担保24,414.85万元，担保期限至最后一批货物交付后6个月。
• 租赁合同担保：
  • 苏州精控能源科技股份有限公司为苏州精控储能集成科技有限公司续签房屋租赁合同项下履约义务开具银行保函55.53万元，有效期至2026年10月15日。

2. 内部决策与合规性说明

• 所有担保事项均已通过董事会及股东会决策（2025年相关会议及公告），本次担保属于已批准额度内，无需另行审批。
• 担保对象多为公司合并报表范围内子公司，母公司对其经营及风险有高度把控。

3. 财务数据与风险提示

• 主要被担保子公司财务状况：
  • 部分子公司资产负债率较高，如隆基乐叶光伏科技有限公司资产负债率达73.77%，LONGi Solar Technology (U.S.) Inc.资产负债率甚至超过100%，净资产为负数，需引起投资者关注。
  • 本次担保对象主要集中在资产负债率70%以上的子公司，存在一定财务风险，但公司称风险可控。
• 担保总额占净资产比例：累计担保总额占净资产45.16%，未超过50%的敏感红线，亦未出现逾期担保。
• 分布式业务担保：对户用及和美乡村整村分布式业务终端用户的担保额度各2亿元，目前实际担保金额较小。

4. 重大事项及股价影响提示

• 价格敏感信息：
  • 本次公告显示公司对高资产负债率子公司提供大额担保，显示公司对业务扩展、海外销售及分布式能源布局持续加码，但需关注部分子公司财务压力较大，若经营不善或市场环境变化，担保风险或对母公司财务状况带来压力。
  • 公司控股子公司西安隆基氢能科技有限公司、隆基乐叶光伏科技有限公司等2026年一季度净利润亏损，经营压力需关注。
  • 公司未出现逾期担保、未对实际控制人及其关联方提供担保，担保行为合规、透明。

三、结论与投资者须知

隆基绿能此次公告显示公司持续为全球化及新业务扩张提供资金和信用支持，整体担保额度在合理范围内，业务扩张步伐未减，但部分被担保子公司短期财务压力较大，或将引发市场对公司整体风险防范能力的关注，建议投资者持续关注相关子公司的经营情况及公司后续担保风险控制措施。

免责声明：本文仅为隆基绿能科技股份有限公司公开信息的新闻解读，不构成任何投资建议。投资者须结合自身实际情况作出独立判断，因本文内容导致的任何投资损失，作者及平台不承担任何责任。
English version (for reference):

LONGi Green Energy Technology: Detailed Disclosure on Guarantee Developments for April 2026

1. Key Highlights

• New guarantees in April 2026: The company and its subsidiaries added RMB 1.60 billion in new guarantees, with an actual guarantee balance reaching RMB 24.15 billion.
• Cumulative guarantee exposure: As of the end of April 2026, LONGi and its subsidiaries have provided guarantees totalling RMB 24.51 billion, accounting for 45.16% of the latest audited net assets.
• Guarantee targets: Guarantees cover wholly-owned and controlled subsidiaries across China, the US, Europe, and Hong Kong.
• No overdue guarantees, no guarantees to controlling shareholders or related parties, and no excess guarantee risk reported.

2. Detailed Disclosure

1. New Guarantees in Detail

• Bank guarantee letters:
  • For wholly-owned subsidiary LONGi Leye Solar Technology Co., Ltd. (and its subsidiaries in Hong Kong, US, Spain, Germany) for operational activities: RMB 475.48 million.
  • Bank guarantee for controlled subsidiary Xi’an LONGi Hydrogen Technology Co., Ltd.: RMB 8.83 million.
  • LONGi Leye provides guarantees to its Spanish and Hong Kong subsidiaries: RMB 75.66 million.
• Performance guarantees:
  • LONGi Leye guarantees component sales by LONGi Solar Technology (U.S.) Inc.: RMB 795.71 million, valid until delivery obligations are fulfilled.
  • LONGI (H.K.) TRADING LIMITED guarantees component sales by LONGI SOLAR TECHNOLOGY SPAIN, S.L.U.: RMB 244.15 million, valid until six months after the last batch delivery.
• Lease contract guarantee:
  • Suzhou Jingkong Energy Technology Co., Ltd. provides a bank guarantee for its wholly-owned subsidiary’s lease renewal: RMB 555,300, valid until October 15, 2026.

2. Internal Compliance and Decision Process

• All guarantees have been approved by the Board and Shareholders’ meetings in 2025; this round is within approved limits and does not require further approval.
• Guarantee targets are mostly consolidated subsidiaries, giving the parent company effective control over operations and risk.

3. Financial Data and Risk Alert

• Key financials of main guarantee recipients:
  • Some subsidiaries have high leverage: LONGi Leye Solar’s asset-liability ratio is 73.77%; LONGi Solar Technology (U.S.) Inc. exceeds 100% with negative net assets — investors should note this risk.
  • Majority of new guarantees are for subsidiaries with over 70% leverage, highlighting financial pressure, though the company claims risk is controllable.
• Guarantee-to-net-asset ratio: The cumulative guarantee ratio stands at 45.16%, below the 50% red line, and there are no overdue guarantees.
• Distributed business guarantees: User-side distributed energy guarantee quotas are each RMB 200 million, but actual usage is currently low.

4. Major Issues and Price-Sensitive Information

• Price sensitive:
  • The company is providing large guarantees to highly leveraged subsidiaries, reflecting strong business expansion in overseas and distributed energy markets, but also increasing financial risk if those units underperform or markets shift.
  • Some key subsidiaries (e.g., Xi’an LONGi Hydrogen, LONGi Leye) recorded net losses in Q1 2026, indicating operational pressure.
  • No guarantee supports to related parties or controlling shareholders; all are compliant and transparent.

3. Conclusion & Investor Takeaways

LONGi Green Energy is actively supporting its global and new business expansion via guarantees, with exposure within regulatory limits. However, high leverage and short-term losses at some subsidiaries may trigger market concerns over risk management. Investors are advised to monitor the performance of these subsidiaries and risk controls closely.

Disclaimer: This news analysis is based on LONGi Green Energy’s public disclosures and does not constitute investment advice. Investors should make independent judgments based on their own circumstances. The author and platform are not liable for any investment loss arising from this article.

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