Zhuoran Co., Ltd. provides guarantees of up to 800 million yuan for subsidiaries, and may face claims due to previous information disclosure issues.

Ask AI · Does the decline in performance make the guarantee risk worse?

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Radar Finance | Yang Yang, Editor: Li Yihui

On March 16, Zhaoran Co., Ltd. (Securities code: 688121) released an announcement regarding progress on its external guarantees for fiscal year 2025. The announcement shows that the company’s wholly-owned subsidiary, Zhaoran (Jingjiang) Equipment Manufacturing Co., Ltd., provides mortgage guarantee for the supply contract and related agreements signed by the company’s wholly-owned subsidiary, Jiangsu Bosong Energy Technology Co., Ltd., and Rongsheng Petrochemical Co., Ltd., with an expected guarantee amount of RMB 800 million.

This guarantee is within the authorized额度范围 approved by the company’s 2024 annual general meeting of shareholders. The guarantee parties are subsidiaries within the scope of the company’s consolidated financial statements. The guarantee amount does not exceed the total authorized amount approved by the shareholders’ meeting.

This mortgage guarantee is part of the company’s normal business operations and financing activities, and is expected not to cause significant adverse impact on the company’s daily operations and business development. As of the date of disclosure of this announcement, the total amount of external guarantees provided by the company and its controlling subsidiaries is RMB 423,800.00 million, accounting for 166.65% of the company’s net assets audited for 2024.

What is worth noting is that Zhaoran Co., Ltd. may also face claims due to issues related to trustworthiness.

In response, Song Lianmin, the director of Jiangsu Shengheng Law Firm, which has represented many stock compensation claims and won compensation, told Radar Finance that under the Securities Law and relevant regulations, if listed companies’ improper conduct causes losses to investors, affected investors may claim compensation in accordance with the law. Investors who purchased Zhaoran stock after listing and between then and December 19, 2025, and who held Zhaoran shares at the close of trading on December 19, 2025, may register to participate for free in the compensation claim through the official account “Lei Shu Ba” (Lei Shu Code: 99). There are no fees before compensation is awarded.

According to Tianyancha information, Zhaoran Co., Ltd. was established on July 29, 2002. Its registered capital is 233.614003 million RMB. The legal representative is Zhang Jinhong. Its注册地址 is 104 Building D, 4th Floor, No. 88, Minbei Road, Minhang District, Shanghai (Minbei Road). The company’s main business is providing customers in fields such as petrochemical engineering, oil refining, and natural gas chemical industry with integrated solutions encompassing design, manufacturing, installation, and services.

At present, the company’s chairman is Zhang Jinhong, its board secretary is Zhang Xiaoyu, there are 661 employees, and the actual controller is Zhang Jinhong and Zhang Xinyu.

The company has 13 equity-invested companies, including Jiangsu Bosong Energy Technology Co., Ltd., Shanghai Zhaoran Digital Energy Technology Co., Ltd., Zhaoran (Zhejiang) New Materials Co., Ltd., Zhaoran (Jingjiang) Equipment Manufacturing Co., Ltd., Shanghai Jingye Engineering Consulting Co., Ltd., among others.

In terms of performance, the company’s operating revenue in 2022, 2023, and 2024 was RMB 2.936 billion, RMB 2.959 billion, and RMB 2.838 billion, respectively, representing year-on-year changes of -24.74%, 0.78%, and -4.07%. Net profit attributable to the parent company was RMB 180 million, RMB 154 million, and RMB 94.7692 million, respectively, representing year-on-year growth of -43.01%, -18.75%, and -38.46%. In the same period, the company’s asset-liability ratio was 71.70%, 65.23%, and 69.41%, respectively.

In terms of risk, Tianyancha information shows that the company itself has 113 Tianyan risks, 32 Tianyan risks in its vicinity, 16 historical Tianyan risks, and 60 risk warnings and reminders.