Tongwei's guarantees reach CNY 456.79bn, defaults at CNY 291.37k

Tongwei Co., Ltd. (SSE:600438) announced that as of May 31, 2025, its total outstanding guarantees reached CNY 456.79 billion extended to subsidiaries, joint ventures, and associated companies. Subsidiary Tongwei Agricultural Financing Guarantee Co., Ltd had CNY 5.14 million in guarantees to customers, where overdue amounts reached CNY 291.37K and compensation claims are CNY 901.37K. Tongwei is actively pursuing recovery. Approved guarantee limits are in line with 2024 shareholder approvals. Some of the entities guaranteed have an asset-liability ratio exceeding 70%.