Tongwei continues providing external guarantees, amounts to CNY 499.32bn

Tongwei Co., Ltd. (SSE:600438) has announced the progress of its external guarantees, revealing a total outstanding guarantee amount of CNY 499.32 billion provided by the company and its subsidiaries. This is primarily for its wholly-owned and controlled subsidiaries, with CNY 0.23 billion extended to joint ventures. The guarantees for downstream customers of Tongwei's agricultural finance guarantee subsidiary is CNY 4.10 billion. During the period from April 1, 2025, to April 30, 2025, the company and its subsidiaries provided new guarantees totaling CNY 7.98 billion to subsidiaries, CNY 0.12 billion to joint ventures, and CNY 1.29 billion by the agricultural finance guarantee subsidiary for its customers. The company notes that some of the guaranteed entities have asset-liability ratios exceeding 70%, cautioning investors to be aware of the associated risks. Tongwei emphasizes that these guarantees are within the approved limits authorized by the 2023 Annual General Meeting.