新疆天业股份有限公司为参股公司提供担保——关联交易公告详解
公告要点梳理
- 公告主体：新疆天业股份有限公司（600075），公告编号：2026-020。
- 担保对象：参股公司中化学东华天业新材料有限公司（以下简称“东华天业”）。
- 担保金额：本次担保计划金额为857.50万元，实际提供担保余额同为857.50万元。
- 是否在前期预计额度内：是。
- 是否有反担保：无。
- 累计对外担保情况：截至公告日，公司及其控股子公司对外担保总额为581,787.1525万元，占最近一期经审计净资产的62.40%。
- 风险提示：本次担保后，对外担保总额已超过上市公司最近一期经审计净资产的50%；并且对合并报表外单位担保总额（含本次）达到或超过最近一期经审计净资产30%；本次担保对象负债率超70%。
详细内容解读
1. 担保情况概述
东华天业为新疆天业持股49%的参股公司，因向股东东华工程科技股份有限公司续借1,750万元，为确保其正常运营，新疆天业按照持股比例为其1,750万元借款提供857.50万元担保。本次担保无担保费用，也无反担保措施。公司董事会已审议通过该担保议案，独立董事事前认可并发表同意意见。由于被担保人资产负债率超过70%，本事项需提交股东会审议，相关关联股东需回避表决。
2. 被担保人基本情况
- 公司类型：其他有限责任公司。
- 注册资本：20,000万元。
- 持股结构：东华工程科技股份有限公司持股51%，新疆天业股份有限公司持股49%。
- 成立时间及注册地：2021年3月18日，新疆石河子市城区北二十八小区。
- 经营范围：工程塑料及合成树脂制造与销售、生物基材料、技术研发与进出口等。
- 主要财务数据（未经审计/经审计）：
- 2025年9月30日/2024年12月31日资产总额：102,123.21万元/103,738.30万元
- 负债总额：81,680.99万元/83,453.96万元
- 资产净额：20,442.21万元/20,284.34万元
- 营业收入：4,662.57万元（2025年1-9月）/9,699.79万元（2024年度）
- 净利润：5.39万元（2025年1-9月）/10.03万元（2024年度）
- 失信情况：东华天业不是失信被执行人。
3. 担保协议与必要性
截至公告日，公司与东华天业尚未签署正式担保协议。公司认为本次担保为保障参股公司正常生产经营所需，参股公司资信状况良好、具备一定偿债能力，担保风险可控，不存在损害公司及中小股东利益情形。
4. 董事会及独立董事专项意见
- 董事会认为本次担保符合公司发展需要及相关法律法规，不会损害公司和股东合法权益。
- 独立董事认为本次担保属于正常经营所需，风险可控，符合相关法规，不存在损害公司和股东利益情况。
5. 累计对外担保及风险提示
- 公司累计对外担保额度为755,940万元，实际余额为581,787.1525万元，占2024年经审计净资产的62.41%。其中为子公司担保额度为275,940万元（参股公司担保额度5,880万元），实际余额186,787.1525万元（参股公司857.50万元）；为控股股东及其子公司担保额度为480,000万元，实际余额395,000万元。
- 公司及控股子公司不存在逾期担保、诉讼担保及因担保被判决败诉而承担的损失。
- 投资者提示：担保总额占净资产比例较高，建议投资者关注潜在担保风险。
投资者关注重点及潜在股价影响
- 本次对外担保总额已超过公司净资产50%，且为资产负债率超过70%的关联企业提供担保，属重大财务事项，可能被市场视为公司整体风险上升。
- 高比例担保可能影响公司财务安全边际，投资者需持续关注担保对象经营状况与偿债能力。
- 公司表示将加强内部控制，密切监督被担保方经营及财务状况，降低担保风险。
- 公司目前无逾期担保或相关诉讼风险。
结语
新疆天业本次为参股公司东华天业按持股比例提供857.50万元担保，虽有助于支持参股公司日常经营，但公司整体担保总额已高于净资产的50%，构成一定财务风险。建议投资者密切关注后续担保事项及参股公司偿债能力变化，理性判断相关投资风险。
免责声明：本文仅作为信息披露和参考，并不构成任何投资建议。投资有风险，入市需谨慎。请投资者理性判断，并结合自身情况作出决策。
Xinjiang Tianye Co., Ltd. Announces Major Guarantee for Associate—Detailed Analyst Report
Key Points from the Announcement
- Issuer: Xinjiang Tianye Co., Ltd. (600075), Announcement No. 2026-020.
- Guarantee Target: Associate company Sinopec Donghua Tianye New Materials Co., Ltd. (“Donghua Tianye”).
- Guarantee Amount: Proposed and actual guarantee amount is RMB 8.575 million.
- Within Previously Approved Quota: Yes.
- Counter Guarantee: None.
- Total External Guarantees: As of the announcement date, total external guarantees by the company and its subsidiaries amount to RMB 5,817.871525 million, accounting for 62.40% of the most recent audited net assets.
- Risk Warning: With this guarantee, the total external guarantees exceed 50% of net assets, and guarantees for non-consolidated entities exceed 30%. The guarantee target’s asset-liability ratio exceeds 70%.
Detailed Analysis
1. Guarantee Overview
Xinjiang Tianye holds a 49% stake in Donghua Tianye. The associate is borrowing RMB 17.5 million from Donghua Engineering Technology Co., Ltd. (the controlling shareholder with 51% stake). Tianye will provide a guarantee for RMB 8.575 million proportionally. There is no guarantee fee or counter guarantee. The board has approved the matter, with independent directors’ prior approval and support. Due to the high leverage (liabilities >70%), this guarantee must be submitted to the shareholders’ meeting, and related parties must abstain from voting.
2. About the Guarantee Target
- Company type: Other limited liability company.
- Registered capital: RMB 200 million.
- Shareholding: Donghua Engineering Technology (51%), Xinjiang Tianye (49%).
- Incorporation & registration: March 18, 2021, Shihezi City, Xinjiang.
- Scope of business: Manufacturing and sale of engineering plastics and synthetic resins, bio-based materials, R&D and import/export, etc.
- Main financial data (unaudited/audited):
- Total assets: RMB 1,021.2321 million (Sep 30, 2025) / RMB 1,037.383 million (Dec 31, 2024)
- Total liabilities: RMB 816.8099 million / RMB 834.5396 million
- Net assets: RMB 204.4221 million / RMB 202.8434 million
- Revenue: RMB 46.6257 million (Jan-Sep 2025) / RMB 96.9979 million (2024)
- Net profit: RMB 53,900 (Jan-Sep 2025) / RMB 100,300 (2024)
- Creditor status: Not a defaulter.
3. Guarantee Agreement and Necessity
No formal guarantee agreement has been signed yet. The board deems this guarantee necessary to support the associate’s normal operation, with reasonable risk control and no damage to the interests of shareholders, especially minority shareholders.
4. Board and Independent Directors’ Opinions
- The Board believes the guarantee is compliant and necessary, with acceptable risk.
- Independent directors agree, stating the guarantee is for normal business needs, risk is controllable, and legal compliance is maintained.
5. Cumulative Guarantees and Risk Alerts
- Total approved external guarantee quota: RMB 7,559.4 million; active balance RMB 5,817.871525 million (62.41% of 2024 net assets).
- Breakdown: For subsidiaries—quota RMB 2,759.4 million, balance RMB 1,867.871525 million (associate guarantee balance RMB 8.575 million); for controlling shareholders and their subsidiaries—quota RMB 4,800 million, balance RMB 3,950 million.
- No overdue guarantees or litigation-related losses reported.
- Investor notice: The high guarantee-to-net asset ratio warrants attention to potential financial risks.
Investor Focus and Potential Share Price Impact
- The guarantee amount exceeds 50% of net assets and is for a highly leveraged associate, which could be perceived as a significant financial risk by the market.
- High proportion of guarantees may affect the company’s financial safety margin; investors should monitor the financial health and solvency of the associate.
- The company commits to strengthening internal controls and monitoring the operational and financial status of the guaranteed party.
- No overdue or litigation-related guarantee risks as of now.
Conclusion
Xinjiang Tianye’s decision to provide a guarantee of RMB 8.575 million for its associate Donghua Tianye supports the latter’s daily operations. However, cumulative guarantees now exceed 50% of net assets, representing a notable financial risk. Investors are urged to closely follow subsequent guarantee matters and the associate’s solvency for rational investment decisions.
Disclaimer: This article is for information and reference only and does not constitute investment advice. Investment carries risks. Please make investment decisions cautiously and according to your own situation.
