Changqing Co., Ltd. has provided a total external guarantee of 1.03 billion yuan.

Radar Finance Text | Feng Xiuyu Edited | Li Yihui

On March 3rd, Changqing Co., Ltd. (Stock Code: 603768) announced that it has provided guarantees for its wholly-owned subsidiaries. Among them, a guarantee of 10 million yuan was provided to Wuhu Changrui Auto Parts Co., Ltd., which has a debt-to-asset ratio below 70%. For the three auto parts companies with a debt-to-asset ratio exceeding 70%—Suizhou Changsen, Hefei Changsheng, and Fuyang Changyang—the guarantees were 19.95 million yuan, 27.80 million yuan, and 10 million yuan, respectively. The total guarantee amount is within the authorized limit of the 2024 annual shareholders’ meeting and does not require additional approval.

As of now, the total external guarantees provided by the company and its subsidiaries amount to 1,030.2188 million yuan, accounting for 42.37% of the audited net assets for 2024. Notably, the company has not provided any guarantees to controlling shareholders, actual controllers, or their related parties, nor have there been any overdue guarantees.

According to Tianyancha, Changqing Co., Ltd. was established on September 2, 1988, with a registered capital of 237.955857 million yuan. The legal representative is Wu Yinghong, and its registered address is No. 18 Dongyou Road, Hefei, Anhui Province. Its main business involves the production and sales of automotive stamping and welding parts.

Currently, the company’s chairman is Wu Yinghong, the secretary of the board is Song Fangming, with 3,906 employees. The actual controllers are Wu Yinghong and Zhu Huijuan.

The company has 17 associated companies, including Anqing Changqing Auto Parts Co., Ltd., Mengcheng Changshun Auto Parts Co., Ltd., Suizhou Changyue New Energy Equipment Co., Ltd., Hefei Changjie Auto Parts Co., Ltd., Jiaxing Changjia Auto Parts Co., Ltd., and others.

In terms of performance, the company’s operating revenue for 2022, 2023, and 2024 was 3.163 billion yuan, 3.249 billion yuan, and 3.409 billion yuan, respectively, with year-over-year growth of 5.13%, 2.71%, and 4.93%. The net profit attributable to shareholders was 96.31 million yuan, 132 million yuan, and 68.16 million yuan, with year-over-year increases of 62.12%, 36.47%, and a decline of 48.22%. During the same period, the company’s debt-to-asset ratios were 55.12%, 59.27%, and 58.56%.

Regarding risks, Tianyancha data shows the company has 116 internal Tianyan risks, 97 surrounding risks, 42 historical risks, and 116 early warning risks.