香江控股为全资子公司香江云瀚科技提供1,000万元担保，累计担保余额高达253,350.71万元
要点摘要
- 担保对象：全资子公司广州市香江云瀚科技有限公司（下称“香江云瀚”）。
- 本次担保金额：1,000万元人民币。
- 担保方式：不可撤销连带责任保证，无反担保。
- 担保余额：本次后，香江控股及控股子公司累计对外担保达253,350.71万元，占2025年经审计净资产的44.08%。
- 被担保公司资产负债率：香江云瀚资产负债率超70%。
- 被担保公司2025年亏损：2025年度净利润为-690.64万元，2026年一季度继续亏损99.01万元。
- 未出现逾期担保及失信情况。
详细内容
2026年7月22日，深圳香江控股股份有限公司（600162.SH，简称“香江控股”）发布临时公告称，公司与广州农村商业银行股份有限公司番禺支行签订《保证合同》，为全资子公司香江云瀚向广州农商银行申请1,000万元流动资金贷款提供不可撤销连带责任担保。本次担保无反担保安排。
根据公告，本次担保实际为香江云瀚提供的担保余额为1,000万元，属于前期预计额度内。香江云瀚为香江控股通过全资持有的深圳市香江永旺投资发展有限公司100%间接持股的全资子公司。
2026年5月29日，香江控股2025年度股东大会审议通过了年度担保计划，授权公司及合并报表范围内子公司、联营、合营公司全年担保额度为31.1亿元。本次担保属于该授权范围内，单笔担保未超20亿元，按公司规定由经理办公会审议通过。
被担保公司基本情况
- 公司名称：广州市香江云瀚科技有限公司
- 成立时间：2017年4月18日
- 注册资本：1,000万元人民币
- 主要业务：软件开发、数据服务、人工智能行业应用、大数据、智能车载设备制造与销售等。
- 财务数据：
- 2025年营业收入1,380.31万元，净利润-690.64万元，负债总额1,038.50万元，资产净额223.17万元。
- 2026年1-3月（未经审计）营业收入265.17万元，净利润-99.01万元。
- 资产负债率持续超过70%。
- 失信情况：无失信被执行记录。
担保协议主要内容
- 担保本金：1,000万元
- 保证期间：主债务履行期届满之日后三年。
- 保证范围：包括全部本金、利息（正常、逾期、复利、罚息）、违约金、损害赔偿金及实现债权的全部费用。
- 保证方式：不可撤销连带责任保证。
对投资者和股东的影响及风险提示
- 截至本公告日，香江控股及控股子公司累计对外担保余额高达253,350.71万元，占2025年经审计净资产的44.08%，担保主要对象均为控股或全资子公司，未超100%净资产红线。
- 香江云瀚资产负债率超过70%，且连续亏损，存在一定的财务风险。
- 本次担保无反担保措施，加大了母公司承担风险的概率。
- 公司称对香江云瀚运营和管理拥有控制权，担保风险可控，但若被担保公司经营持续恶化，母公司可能面临实际承担偿还责任的风险。
- 公告强调目前不存在对外担保逾期及失信情况。
董事会意见
董事会认为为全资子公司提供担保有利于子公司业务正常开展，支持其持续发展并满足资金需求，相关风险处于可控范围内，符合公司和全体股东利益。
结论与潜在影响
本次公告中，香江控股累计对外担保余额较高，且为高负债、亏损子公司提供无反担保的连带责任担保，存在一定财务风险，可能引起投资者和市场关注，成为影响公司股价波动的重要因素。投资者应关注公司未来对担保风险的管理及被担保子公司的盈利能力变化。
免责声明：本文为基于香江控股公开披露信息梳理，仅供投资者参考，不构成任何投资建议。投资有风险，决策需谨慎。
Translation (English)
Hong Kong Holdings Provides RMB 10 Million Guarantee for Wholly-Owned Subsidiary, Total Guarantee Balance Reaches RMB 2.53 Billion
Key Highlights
- Guarantee Target: Wholly-owned subsidiary Guangzhou Xiangjiang Yunhan Technology Co., Ltd. (“Yunhan”).
- This Guarantee Amount: RMB 10 million.
- Guarantee Type: Irrevocable joint liability guarantee, no counter-guarantee.
- Total Guarantee Balance: After this, Xiangjiang Holdings and subsidiaries’ total external guarantee reaches RMB 2,533,507,100, accounting for 44.08% of the 2025 audited net assets.
- Subsidiary Leverage: Yunhan’s asset-liability ratio exceeds 70%.
- Subsidiary Losses: 2025 annual net profit -6.91 million RMB, Q1 2026 net loss continues (-990,100 RMB).
- No overdue guarantees or credit defaults.
Details
On July 22, 2026, Shenzhen Xiangjiang Holdings Co., Ltd. (600162.SH, “Xiangjiang Holdings”) announced it has signed a guarantee contract with Guangzhou Rural Commercial Bank Panyu Branch, providing an irrevocable joint liability guarantee for its wholly-owned subsidiary Yunhan’s RMB 10 million working capital loan application. There is no counter-guarantee arrangement for this guarantee.
The guarantee is within the previously approved quota. Yunhan is 100% indirectly owned via Xiangjiang Holdings’ full ownership of Shenzhen Xiangjiang Yongwang Investment Development Co., Ltd.
In May 2026, the company’s AGM approved an annual guarantee quota of RMB 3.11 billion for Xiangjiang Holdings and its group companies. This guarantee falls within that authorization and does not exceed the RMB 2 billion single transaction cap.
Subsidiary Details
- Name: Guangzhou Xiangjiang Yunhan Technology Co., Ltd.
- Established: April 18, 2017
- Registered capital: RMB 10 million
- Business scope: Software development, data services, AI application integration, big data, intelligent vehicle equipment manufacturing/sales, etc.
- Financials:
- 2025 revenue: RMB 13.8 million; net loss: RMB 6.91 million; liabilities: RMB 10.39 million; net assets: RMB 2.23 million.
- Q1 2026 (unaudited): revenue RMB 2.65 million; net loss RMB 0.99 million.
- Leverage: Asset-liability ratio exceeds 70%.
- Credit Status: No record of credit default.
Guarantee Agreement Key Points
- Principal: RMB 10 million
- Guarantee Period: 3 years after performance period of the main debt.
- Scope: All principal, interest (including overdue, compound, penalty), damages, and all enforcement costs.
- Type: Irrevocable joint liability guarantee.
Impact and Risks for Investors
- Cumulative guarantee balance is high at RMB 2.53 billion (44.08% of net assets), all for (wholly-)owned subsidiaries; not exceeding 100% red line.
- Yunhan’s leverage exceeds 70% and continues to lose money, indicating financial risks.
- No counter-guarantee, increasing ultimate liability risk for the parent.
- The company claims to exercise control over Yunhan, but if performance deteriorates, the parent may need to cover the debts.
- No overdue or defaulted guarantees exist as of the announcement.
Board Opinion
The board believes supporting the subsidiary via guarantee is positive for its business, and risks are controllable, in the interests of all shareholders.
Conclusion & Price Sensitivity
The high cumulative guarantee balance, the provision of joint liability guarantee for a highly leveraged and loss-making subsidiary without counter-guarantee, presents financial risks that may catch investor attention and potentially impact the share price. Investors should closely monitor the company’s guarantee risk management and the profitability of Yunhan.
Disclaimer: This article is based on Xiangjiang Holdings’ public disclosures and is for reference only. It does not constitute investment advice. Please exercise caution and make your own decisions.
