新疆天业股份有限公司为参股公司中化学东华天业新材料857.5万元借款提供担保公告（2026年）

新疆天业股份有限公司为参股公司借款提供担保的关联交易公告详解

一、公告要点概览

担保对象：中化学东华天业新材料有限公司（以下简称“东华天业”），新疆天业持有其49%股权。
担保金额：本次担保金额为857.50万元，实际为其提供的担保余额也是857.50万元。
担保性质：无担保费用，无反担保，属于关联交易。
累计担保风险提示：新疆天业及其控股子公司对外担保总额为581,787.1525万元，占公司最近一期经审计净资产的62.40%，已超过50%的监管红线。
被担保人财务状况：东华天业资产负债率高于70%，偿债压力较大。
内部决策流程：该事项已获董事会审议通过，需提交股东大会审议，且关联股东须回避表决。

二、详细解读

1. 担保背景及安排

新疆天业股份有限公司（股票代码：600075）公告称，其参股公司东华天业向另一股东东华工程科技股份有限公司续借1,750万元，为保证东华天业正常运营，新疆天业按持股比例为其提供857.50万元担保。担保有效期自股东大会审议通过之日起至下一年度相关股东会审议新的担保计划事项之日止。本次担保无担保费用，也未要求被担保公司提供反担保。

2. 关联交易说明

东华天业为新疆天业的联营企业，尽管其不是控股股东或实际控制人的关联方，但根据《企业会计准则第36号——关联方披露》，该担保事项构成关联交易。公司董事、高管未在东华天业兼职，符合相关监管要求。

3. 被担保公司经营与财务状况

公司基本信息：
- 成立时间：2021年3月18日
- 注册资本：20,000万元
- 注册地址：新疆石河子市城区北二十八小区6幢
- 主营业务：工程塑料、合成树脂、生物基材料等的制造与销售
主要财务数据：
- 截至2025年9月30日（未经审计）：
  资产总额102,123.21万元，负债总额81,680.99万元，资产净额20,442.21万元，营业收入4,662.57万元，净利润5.39万元。
- 2024年12月31日（经审计）：
  资产总额103,738.30万元，负债总额83,453.96万元，资产净额20,284.34万元，营业收入9,699.79万元，净利润10.03万元。
重要提醒：东华天业的资产负债率高于70%，偿债能力存在一定压力，投资者需关注其后续的资金流动性和风险。
失信情况：东华天业不是失信被执行人。

4. 担保协议与风险控制

截至公告日，公司与东华天业尚未签署正式担保协议。董事会认为担保系实际经营需要，参股公司资信状况良好，具备一定偿债能力，公司将密切关注其经营及财务状况。董事会与独立董事均认为，担保风险可控，不会损害公司及中小股东利益。

5. 对外担保累计及风险提示

新疆天业已获批尚处于有效期的累计对外担保额度为755,940万元，实际累计对外担保余额为581,787.1525万元，占2024年度经审计归属于母公司净资产（932,235.36万元）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），实际担保余额为186,787.1525万元（参股公司担保余额857.50万元），占净资产的20.04%；为控股股东及其子公司担保额度为480,000万元，实际担保余额为395,000万元，占净资产的42.37%。
公司及控股子公司不存在逾期担保、涉诉担保及因担保被判决败诉而应承担的损失。

三、对投资者的影响及需关注事项

对外担保占比高：本次及累计对外担保金额已超过公司净资产的50%，达到62.41%，对公司资本结构及信用风险管理提出了更高要求。此类高比例担保一般会被市场认定为公司风险偏好较高，或存在一定的财务压力，需引起投资者重视。
被担保单位资产负债率过高：东华天业资产负债率超过70%，若其偿债出现问题，可能对新疆天业带来连带风险。
后续流程：本次担保事项尚需提交股东大会审议，且关联股东需回避表决，投资者应持续关注公司相关进展。
潜在价格敏感事项：倘若东华天业经营状况恶化，或新疆天业未来对外担保进一步增加，可能对公司股价造成负面影响。

四、结论

本次新疆天业为参股公司提供担保，虽属正常经营支持行为，但公司累计对外担保占净资产比例较高且被担保公司资产负债率偏高，提醒投资者密切关注风险变化及公司后续披露的相关信息。

免责声明：本文章仅为信息披露解读，不构成任何投资建议。投资者应结合自身风险承受能力，理性判断，注意投资风险。

Xinjiang Tianye Co., Ltd. Provides Guarantee for Borrowing by Associated Company – In-depth Analysis

1. Summary of Key Points

Guarantee Target: China National Chemical Donghua Tianye New Materials Co., Ltd. (“Donghua Tianye”), in which Xinjiang Tianye holds a 49% equity stake.
Guarantee Amount: This guarantee totals RMB 8.575 million, with the actual guarantee balance being the same.
Guarantee Nature: No guarantee fee, no counter-guarantee, constitutes a related-party transaction.
Accumulated Guarantee Risk: Total external guarantees by Xinjiang Tianye and its subsidiaries amount to RMB 5,817.871525 million, accounting for 62.40% of the company’s latest audited net assets—well above the 50% regulatory warning line.
Guaranteed Entity’s Financial Status: Donghua Tianye’s asset-liability ratio exceeds 70%, indicating significant repayment pressure.
Internal Decision Process: The matter has been approved by the board, but still needs to be submitted to the shareholders’ meeting for approval, with related shareholders to abstain from voting.

2. Detailed Analysis

1. Background and Arrangement of the Guarantee

Xinjiang Tianye Co., Ltd. (Stock code: 600075) announced that its associate company, Donghua Tianye, is renewing a RMB 17.5 million loan from its other shareholder, Donghua Engineering Technology Co., Ltd. To support Donghua Tianye’s normal operations, Xinjiang Tianye will provide a guarantee of RMB 8.575 million according to its shareholding ratio. The guarantee is effective from the date the shareholders’ meeting approves it and will last until the next annual shareholders’ meeting reviews the new guarantee plan. There is no guarantee fee, and no counter-guarantee required from the borrower.

2. Related-Party Transaction Explanation

Although Donghua Tianye is not a controlling shareholder or actual controller, according to enterprise accounting standards, it is considered an associate, making this guarantee a related-party transaction. None of Xinjiang Tianye’s directors or executives hold positions in Donghua Tianye, complying with regulatory requirements.

3. Financial and Operating Information of the Guaranteed Company

Basic Information:
- Established: March 18, 2021
- Registered Capital: RMB 200 million
- Address: No.6, District 28, Urban Area, Shihezi City, Xinjiang
- Main Business: Manufacture and sales of engineering plastics, synthetic resins, bio-based materials, import/export, and technical services
Key Financial Data:
- As of September 30, 2025 (unaudited):
  Total assets: RMB 1,021.2321 million; Total liabilities: RMB 816.8099 million; Net assets: RMB 204.4221 million; Revenue: RMB 46.6257 million; Net profit: RMB 53,900.
- As of December 31, 2024 (audited):
  Total assets: RMB 1,037.383 million; Total liabilities: RMB 834.5396 million; Net assets: RMB 202.8434 million; Revenue: RMB 96.9979 million; Net profit: RMB 100,300.
Important Note: Donghua Tianye’s asset-liability ratio is over 70%, which means significant pressure on its repayment ability. Investors should pay close attention to its liquidity and risk.
Credit Status: Donghua Tianye is not listed as a dishonest person subject to enforcement.

4. Guarantee Agreement and Risk Control

As of the announcement date, no formal guarantee agreement has been signed. The board believes the guarantee is a necessary business support measure, and Donghua Tianye’s financial situation and credit are acceptable. The company will closely monitor the financial and operating status of the borrower. The board and independent directors agree the guarantee risk is controllable and will not harm the interests of the company or minority shareholders.

5. Cumulative External Guarantee and Risk Warning

The approved and valid cumulative external guarantee amount is RMB 7,559.4 million, with the actual cumulative guarantee balance at RMB 5,817.871525 million, accounting for 62.41% of the company’s audited net assets for 2024 (RMB 9,322.3536 million).
Of these, guarantees for subsidiaries total RMB 2,759.4 million (of which associated company guarantees are RMB 58.8 million), with an actual guarantee balance of RMB 1,867.871525 million (associated company guarantee balance RMB 8.575 million), accounting for 20.04% of net assets. Guarantees for controlling shareholders and their subsidiaries total RMB 4,800 million, with an actual balance of RMB 3,950 million, accounting for 42.37% of net assets.
The company and its subsidiaries have no overdue guarantees, no guarantees involved in litigation, and have not suffered losses due to guarantee-related judgments.

3. Investor Impact and Focus Points

High External Guarantee Ratio: The total and cumulative external guarantees now account for over 50% (62.41%) of the company’s net assets, raising concerns about risk appetite and financial pressure.
High Leverage of Borrower: Donghua Tianye’s asset-liability ratio exceeds 70%. Repayment issues at Donghua Tianye could expose Xinjiang Tianye to potential risk.
Ongoing Process: The guarantee still needs shareholder approval, with related shareholders to abstain. Investors should monitor further developments.
Potential Price-sensitive Factors: Deterioration in Donghua Tianye’s operations or further increase in Xinjiang Tianye’s external guarantees may negatively affect the company’s share price.

4. Conclusion

This guarantee by Xinjiang Tianye for its associate is a standard business support action, but the high cumulative guarantee ratio and the high leverage of the associate warrant close investor attention to changing risks and further disclosures.

Disclaimer: This article is for information disclosure interpretation only and does not constitute investment advice. Investors should make rational judgments based on their risk tolerance and pay attention to investment risks.