Zhejiang Hengtong Holdings Provides Guarantee for Subsidiary’s RMB 100 Million Loan—Latest Progress Announcement

浙江亨通控股股份有限公司：为全资子公司亨通精密铜箔科技（德阳）有限公司提供担保的进展公告

公告要点

担保金额与对象：公司为全资子公司亨通精密铜箔科技（德阳）有限公司（简称“亨通铜箔”）向成都银行金牛支行申请流动资金贷款1亿元（10,000万元）提供连带责任保证。
担保余额：截至公告日，公司实际为亨通铜箔提供的担保余额为59,664.58万元，本次担保在此前预计额度内，无反担保。
累计担保及风险提示：公司及控股子公司对外担保总额为79,664.58万元，占2024年度经审计净资产的23.33%。本次对资产负债率超过70%的单位提供担保，需注意风险。

详细内容

为保障亨通铜箔经营发展资金需求，浙江亨通控股与成都银行金牛支行签署《最高额保证合同》，为亨通铜箔向成都银行申请的流动资金贷款1亿元提供连带责任保证。合同编号为D340121260313999，担保方式为连带责任保证。保证期间为主债务履行期届满后三年，涉及贷款本金、利息（含罚息、复利）、相关费用、违约金、赔偿金及实现债权的一切费用。合同范围包含银行承兑汇票、票据贴现、保函等多种债权类型。

该担保事项已在公司第九届董事会第二十七次会议及2025年第四次临时股东会审议通过，并在此前公告中披露，属于股东会批准额度内，无需另行召开董事会或股东会审议。

亨通铜箔基本情况与财务数据

成立时间：2021年12月8日
注册资本：6亿元
2025年9月30日资产总额：200,179.76万元，负债总额：159,153.01万元，净资产：41,026.75万元
2025年前三季度营业收入：87,090.93万元，净利润为-5,294.73万元；2024年度净利润为-11,672.81万元
公司主营电子专用材料制造、新材料技术研发、有色金属压延加工等

对投资者的影响与风险提示

亨通铜箔资产负债率较高（约80%），且连续两年出现亏损，担保风险需关注。
本次担保金额虽未超出股东会授权额度，但累计担保总额占净资产比例较高（23.33%），公司整体担保风险上升。
公司不存在对控股股东、实际控制人及其关联人担保，也不存在逾期担保。
担保有利于亨通铜箔资金需求和公司转型发展，提升整体融资效率，但高负债和亏损可能影响公司未来财务健康。

董事会意见

董事会认为本次担保事项有利于公司整体发展战略，不会对公司正常运营或股东利益产生不利影响。担保风险可控，符合公司与全体股东利益。

投资者关注点

公司对下属企业担保金额持续增长，需关注未来财务风险。
亨通铜箔连续亏损，若经营改善不明显，可能影响公司整体盈利能力。
本次担保涉及资产负债率超过70%的企业，市场或会对公司风险偏好及稳健性产生疑问，可能影响股价波动。

免责声明

本文信息仅供参考，不构成投资建议。投资者应结合自身情况及专业意见，对相关风险做充分评估。公司未来经营及担保风险需持续关注。

Zhejiang Hengtong Holdings Co., Ltd.: Progress Announcement on Guarantee for Wholly-owned Subsidiary

Key Points

Guarantee Amount & Target: The company guarantees a RMB 100 million (10 million yuan) working capital loan from Chengdu Bank Jinniu Branch for its wholly-owned subsidiary, Hengtong Precision Copper Foil Technology (Deyang) Co., Ltd. (“Hengtong Copper Foil”).
Guarantee Balance: As of the announcement date, the actual guarantee balance provided for Hengtong Copper Foil is RMB 596.6458 million; this guarantee is within previously approved limits, with no counter-guarantee.
Aggregate Guarantees & Risk Warning: The company and its subsidiaries’ total external guarantees amount to RMB 796.6458 million, accounting for 23.33% of the 2024 audited net assets. This guarantee is provided to a unit with an asset-liability ratio above 70% and requires risk attention.

Details

To support Hengtong Copper Foil’s funding needs for business development, Zhejiang Hengtong Holdings signed a “Maximum Guarantee Contract” (No. D340121260313999) with Chengdu Bank Jinniu Branch, providing joint and several liability guarantee for a loan of RMB 100 million. The guarantee covers principal, interest (including penalty and compound interest), related fees, damages, and all costs for debt realization. The scope includes loans, bankers’ acceptances, bill discounts, guarantees, etc.

This guarantee was approved by the board and shareholders’ meeting and previously disclosed, so no further board/shareholder meetings are required.

Subsidiary Overview & Financial Data

Established: December 8, 2021
Registered Capital: RMB 600 million
Assets (Sept 30, 2025): RMB 2,001.7976 million; Liabilities: RMB 1,591.5301 million; Net Assets: RMB 410.2675 million
Revenue (Jan-Sept 2025): RMB 870.9093 million; Net Loss: RMB -52.9473 million; FY2024 Net Loss: RMB -116.7281 million
Main business: electronic materials manufacturing, new material R&D, non-ferrous metal rolling, etc.

Investor Impact & Risk Warning

Hengtong Copper Foil has a high asset-liability ratio (~80%) and continued losses, raising guarantee risk.
Total guarantees, while within approved limits, are significant (23.33% of net assets), elevating overall risk exposure.
No guarantees for controlling shareholders, actual controllers, or their affiliates. No overdue guarantees.
The guarantee is positive for subsidiary capital needs and company transformation, but high leverage and losses may affect financial health.

Board Opinion

The board believes the guarantee benefits the company’s strategic development without adverse impact on operations or shareholder interests. Risks are controllable and align with overall interests.

Investor Focus

Growing guarantee exposure to subsidiaries may affect future financial risk.
Continued losses at Hengtong Copper Foil could impact group profitability if not reversed.
Guaranteeing a high-debt subsidiary may lead the market to question risk appetite and prudence, possibly affecting share price.

Disclaimer

This information is for reference only and does not constitute investment advice. Investors should assess risks according to their situation and seek professional advice. Ongoing operational and guarantee risks warrant attention.