陕建股份发布重大担保进展公告：对外担保总额超归母净资产，投资者需关注风险
主要内容概述
- 被担保人： 陕西建工第八建设集团有限公司等14家子公司，均为非关联担保。
- 本月担保金额： 2026年4月新增对外担保金额合计20.93亿元。
- 担保累计余额： 截至2026年4月30日，公司及控股子公司对外担保累计余额达345.72亿元。
- 逾期担保： 报告期内无逾期担保。
- 风险提示： 公司及控股子公司对外担保总额已超最近一期经审计归母净资产的100%。除陕建綦习（重庆）高速公路有限公司外，其他被担保人2025年资产负债率均超过70%。投资者需高度关注相关财务风险。
详细担保情况
为满足子公司正常融资需求，陕建股份于2026年4月对14家子公司提供了总计20.93亿元担保，具体担保方式包括“共同还款”和“连带保证”。主要担保对象及金额包括：
- 陕西建工第八建设集团有限公司：担保金额1亿元，担保余额25.945亿元，担保到期日2027/3/27
- 陕西建工第十四建设有限公司、陕西古建园林建设集团有限公司、陕西建筑产业投资集团有限公司等，分别获担保金额0.5-1亿元。
- 陕西华山路桥集团有限公司：分别在中信银行、中国银行、成都银行获得担保，单笔最高担保余额达18.11亿元。
- 北京石油化工工程有限公司、陕西建工第三建设集团有限公司等，担保金额分别为4亿元、2.3亿元。
- 陕建綦习（重庆）高速公路有限公司：担保金额0.6亿元，资产负债率低于其他被担保公司。
内部审批流程
上述担保事项已获2025年4月28日、6月26日董事会会议及2024年年度股东大会审议通过。
被担保人财务情况
附表详述了被担保人2025年全年及2026年3月31日主要财务指标。绝大多数被担保公司资产负债率超过70%，部分子公司（如陕西建筑产业投资集团有限公司、陕西建工装配式智造科技有限公司、北京石油化工工程有限公司）2025年净利润为负，显示部分经营压力。
- 被担保公司多数为建筑施工企业，资产总额在数十亿元至数百亿元不等。
- 部分子公司2026年一季度净利润出现亏损，如陕西建筑产业投资集团有限公司、陕西建工装配式智造科技有限公司、北京石油化工工程有限公司等。
- 唯一资产负债率低于70%的为陕建綦习（重庆）高速公路有限公司。
影响与风险提示
- 对外担保总额超归母净资产： 截至公告日，担保总额占归母净资产104.26%，已大幅超过监管红线，属于重大事项。
- 被担保公司财务压力大： 多数被担保公司资产负债率高，部分净利润为负，反映担保风险上升。
- 无逾期担保： 报告期内未出现逾期担保或对控股股东、实际控制人及其关联人担保。
投资者需重点关注
此公告内容对陕建股份公司构成重大财务风险提示，担保总额超归母净资产，且被担保公司财务压力较大。若未来担保出现违约或风险爆发，可能会对公司资产、现金流及股价产生重大影响。投资者应密切关注公司后续担保风险管理措施及被担保子公司的经营状况。
免责声明
本新闻仅供参考，不构成任何投资建议。投资者应结合自身风险承受能力，密切关注公司后续公告及市场动态，谨慎决策。
Shaanxi Construction Engineering Group Discloses Major Guarantee Progress: External Guarantee Exceeds Net Assets, Investors Should Pay Attention to Risks
Key Highlights
- Guarantees Provided To: 14 subsidiaries including Shaanxi Construction Eighth Construction Group Co., Ltd., all non-affiliate guarantees.
- April Guarantee Amount: Total external guarantee of RMB 2.093 billion in April 2026.
- Accumulated Guarantee Balance: As of April 30, 2026, combined external guarantee balance is RMB 34.572 billion.
- Overdue Guarantees: No overdue guarantees during the reporting period.
- Risk Warning: The total external guarantee has exceeded the latest audited parent net assets by over 100%. Except for Shaanxi Qixixi (Chongqing) Expressway Co., Ltd., all other guaranteed parties’ asset-liability ratios exceeded 70% in 2025. Investors should pay close attention to related financial risks.
Detailed Guarantee Situation
To meet subsidiaries’ normal financing needs, Shaanxi Construction provided a total guarantee of RMB 2.093 billion in April 2026 to 14 subsidiaries. Guarantee types include “joint repayment” and “joint liability guarantee”. Major guarantee recipients and amounts:
- Shaanxi Construction Eighth Construction Group Co., Ltd.: Guarantee of RMB 100 million, guarantee balance RMB 2.5945 billion, expiry March 27, 2027.
- Shaanxi Construction Fourteenth Construction Co., Ltd., Shaanxi Ancient Architecture Garden Construction Group Co., Ltd., Shaanxi Construction Industry Investment Group Co., Ltd. received guarantees of RMB 50-100 million each.
- Shaanxi Huashan Road & Bridge Group Co., Ltd.: Guarantee balances up to RMB 1.811 billion across multiple banks.
- Beijing Petrochemical Engineering Co., Ltd., Shaanxi Construction Third Construction Group Co., Ltd. received guarantees of RMB 400 million and RMB 230 million respectively.
- Shaanxi Qixixi (Chongqing) Expressway Co., Ltd.: RMB 60 million guarantee, lower asset-liability ratio than others.
Internal Approval Process
All guarantee matters were approved by board meetings held on April 28 and June 26, 2025, and by the 2024 Annual General Meeting.
Financial Status of Guaranteed Parties
The appendix details the financial indicators for each guaranteed party for 2025 and as of March 31, 2026. Most guaranteed subsidiaries have asset-liability ratios exceeding 70%. Some subsidiaries (such as Shaanxi Construction Industry Investment Group, Shaanxi Construction Prefabricated Intelligent Manufacturing Technology Co., Ltd., Beijing Petrochemical Engineering Co., Ltd.) had negative net profits in 2025, showing operational pressure.
- Most guaranteed subsidiaries are construction firms, with total assets ranging from hundreds of millions to tens of billions RMB.
- Some subsidiaries posted losses in Q1 2026, indicating financial strain.
- The only subsidiary with asset-liability ratio below 70% is Shaanxi Qixixi (Chongqing) Expressway Co., Ltd.
Impact and Risk Warning
- External Guarantee Exceeds Net Assets: As of announcement date, guarantee amount is 104.26% of parent net assets, significantly exceeding regulatory red line, constituting a major issue.
- High Financial Pressure: Most guaranteed parties have high asset-liability ratios; some posted losses, increasing guarantee risk.
- No Overdue Guarantees: No overdue guarantees or guarantees for controlling shareholders or affiliates.
Investor Focus
This announcement constitutes a major financial risk alert for Shaanxi Construction, with guarantee amount exceeding net assets and high financial pressure on subsidiaries. Any future default or risk event may severely impact the company’s assets, cash flow, and stock price. Investors should closely monitor the company’s risk management and the operating conditions of guaranteed subsidiaries.
Disclaimer
This news report is for information only and does not constitute investment advice. Investors should carefully consider their own risk tolerance and monitor subsequent company announcements and market conditions before making decisions.
