TANAC(SZ:300461) Zhong Guo Jing Ying Bao·2025-05-20 21:13Core Viewpoint - The financial support from Zhejiang Tianzhong Precision Machinery Co., Ltd. to its subsidiary Shenzhen Youfu Intelligent Equipment Co., Ltd. has evolved into a prolonged capital crisis, marked by increasing overdue loans and persistent operational losses [1][4]. Loan Details - In December 2022, Tianzhong Precision provided a maximum loan of 100 million yuan to Youfu Intelligent, intended to support its lithium battery production line development and working capital needs [2]. - The loan was extended for one year in December 2023 due to ongoing financial needs, but the first overdue amount of 13 million yuan occurred in December 2024, marking a turning point in risk [2]. - By May 2025, the total overdue amount had escalated to 68.9 million yuan, representing 13.57% of Tianzhong Precision's net assets [2]. Financial Performance of Youfu Intelligent - Since its establishment, Youfu Intelligent has consistently reported losses, with a net profit loss of 8.1752 million yuan in 2022, and losses further increasing to 37.2396 million yuan in 2023 [4]. - In the first quarter of 2025, Youfu Intelligent reported zero revenue, with operating and net profits at -5.3614 million yuan and -5.3868 million yuan, respectively [5]. - As of December 31, 2024, Youfu Intelligent's total assets were 124 million yuan, while total liabilities reached 270 million yuan, resulting in negative equity of 146 million yuan [5]. Legal and Financial Risks - Youfu Intelligent is facing significant legal risks, with 150 ongoing lawsuits totaling 87.4662 million yuan, which is 17.23% of Tianzhong Precision's latest audited net assets [5]. - The company has indicated that if Youfu Intelligent cannot repay the loans, it may pursue bankruptcy proceedings [3].