On April 3, Tongwei Co., Ltd. (600438) announced its progress regarding external guarantees and new loans. As of March 31, 2025, the company and its subsidiaries had provided mutual guarantees amounting to 3.732 billion yuan between March 1 and March 31, 2025. Additionally, the company and its subsidiaries provided guarantees of 0.012 billion yuan for joint ventures, while Tongwei Agricultural Financing Guarantee Co., Ltd. offered guarantees for clients amounting to 0.099 billion yuan.
As of March 31, 2025, the actual balance of mutual guarantees provided by the company and its subsidiaries stood at 49.65 billion yuan. The actual balance of guarantees for joint ventures was 0.02 billion yuan, and the balance of guarantees provided by the agricultural guarantee company for downstream clients reached 0.352 billion yuan. Furthermore, the company’s total loan balance was 96.46 billion yuan, which reflects an increase of 12.26 billion yuan compared to the end of 2024.
The company stated that the guarantee activities conducted by itself and its subsidiaries did not exceed the authorized limit approved at the 2023 annual shareholder meeting, and the guarantee risks are manageable. There are no circumstances that could harm the interests of the company or its minority shareholders.
According to Tianyancha data, Tongwei Co., Ltd. was established on December 8, 1995, with a registered capital of 4.50 billion yuan. The legal representative is Liu Shuqin, and the registered address is located at 588 Tianfu Avenue Middle Section, Chengdu High-tech Zone, Free Trade Pilot Zone, Sichuan, China. The main business activities include the research, production, and sales of aquatic feed, livestock and poultry feed, as well as high-purity crystalline silicon and solar cells.
Currently, the chairman of the company is Liu Shuqin, the secretary of the board is Yan Ke, and the company employs 56,406 people. The actual controller is Liu Hanyuan. Tongwei has 30 affiliate companies, including Tongwei Solar (Hefei) Co., Ltd., Sichuan Yongxiang Co., Ltd., Tongwei New Energy Co., Ltd., Qianxi Tongwei Feed Co., Ltd., and Ningxia Yinchuan Tongwei Feed Co., Ltd.
In terms of performance, the company reported revenues of 63.49 billion yuan, 142.42 billion yuan, and 139.10 billion yuan for the years 2021 to 2023, representing year-over-year growth rates of 43.64%, 119.69%, and -2.33%, respectively. The net profit attributable to shareholders was 8.21 billion yuan, 25.73 billion yuan, and 13.57 billion yuan, with year-over-year growth rates of 127.50%, 217.25%, and -47.25%.
During the same period, the company’s debt-to-asset ratios were 52.80%, 49.57%, and 55.08%. In terms of risk, Tianyancha information indicates that the company has 775 risk entries, surrounding risks of 946 entries, historical risks of 10 entries, and 467 risk warnings.
