Tianhai Defense has provided effective external guarantees totaling 4.083 billion yuan.

Radar Finance Text | Yang Yang Edited | Li Yihui

On March 19, Tianhai Defense (Stock Code: 300008) announced that it will provide guarantees for its wholly-owned subsidiary Jiangsu Dajin Heavy Industry Co., Ltd. and its wholly-owned secondary subsidiary Jiangsu Jamei Marine Engineering Equipment Co., Ltd.

Specifically, it includes a joint liability guarantee for Jamei Marine’s application to Jiangsu Bank for a comprehensive credit line of no more than 10 million RMB; a joint liability guarantee of 91,064,900 RMB for Dajin Heavy Industry’s financing lease business with SuYin Financial Leasing Co., Ltd.; and Dajin Heavy Industry’s joint liability guarantee for Jamei Marine’s application to Bank of China for a comprehensive credit line of no more than 10 million RMB.

The above guarantees have been reviewed by the company’s board of directors and shareholders’ meeting, and the total amount is within the scope of the company’s 2025 external guarantee plan. As of the announcement date, the total effective external guarantee amount is approximately 4,083,005,500 RMB. After this guarantee contract takes effect, the company’s total external guarantee amount is approximately 4,174,070,400 RMB, accounting for 199.39% of the company’s latest audited net assets.

According to Tianyancha data, Tianhai Defense was established on October 29, 2001, with a registered capital of 1,728,029,133 RMB. The legal representative is Zhan Jinfeng, and the registered address is No. 518, Xinzhuan Road, Songjiang District, Shanghai. Its main businesses are ship and marine engineering, defense equipment, and new energy.

Currently, the company’s chairman is He Xuandong, the secretary of the board is Dong Wenjie, with 1,546 employees, and the actual controller is He Xuandong.

The company has 39 associated companies, including Longhai Heavy Energy (Ningbo) Intelligent Equipment Technology Co., Ltd., Tianhai Integration Real Estate (Shanghai) Co., Ltd., Dajin Heavy Industry (Taizhou) Co., Ltd., Jiahai Marine Design & Research (Nantong) Co., Ltd., and Taizhou Tianhai Runda Special Equipment Co., Ltd.

In terms of performance, the company’s operating income for 2022, 2023, and 2024 was 2.73 billion, 3.606 billion, and 3.945 billion RMB, respectively, with year-on-year growth rates of 96.26%, 32.13%, and 9.40%. The net profit attributable to the parent was 138 million, 102 million, and 139 million RMB, with year-on-year growth rates of 432.97%, -26.62%, and 36.40%. During the same period, the company’s asset-liability ratio was 53.40%, 55.14%, and 54.85%.

Regarding risks, Tianyancha information shows that the company has 501 internal Tianyan risks, 959 surrounding risks, 179 historical risks, and 294 warning alert risks.