Core Points - Tianhai Defense (300008) closed at 6.41 yuan on June 13, 2025, up 4.4% from last week's 6.14 yuan [1] - The company's market capitalization is currently 11.077 billion yuan, ranking 6th in the marine equipment sector and 1421st among 5150 A-shares [1] Company Announcements - Tianhai Defense provided a guarantee of up to 11.71 million USD (approximately 84.12 million yuan) for its wholly-owned subsidiary Jiangsu Dajin Heavy Industry Co., Ltd. related to a contract for two 5900DWT multi-purpose cargo ships [1] - Additionally, the subsidiary Jiangsu Jiamei Marine Engineering Equipment Co., Ltd. plans to apply for a comprehensive credit line of up to 10 million yuan from Jiangsu Bank, with Tianhai Defense providing a joint liability guarantee [1] - The company's board approved a guarantee plan for 2025, authorizing the chairman and general manager to allocate guarantees within a total limit of 3.4 billion yuan [1] - As of the announcement date, the total amount of guarantees provided to subsidiaries is approximately 3.1005212 billion yuan, accounting for 148.11% of the company's most recent audited net assets, with no overdue guarantees or guarantees involved in litigation [1]

Overview - Tianhai Defense intends to provide counter-guarantees for its wholly-owned subsidiary's bank guarantees and comprehensive credit applications, involving a total guarantee amount of up to $11.71 million, approximately RMB 84.12 million [1][2]. Guarantee Details - The company will provide a counter-guarantee for Jiangsu Dajin Heavy Industry Co., Ltd. related to the construction of two 5900DWT multipurpose cargo ships, with a total guarantee amount of $11.71 million [1][5]. - The company plans to apply for a comprehensive credit line of up to RMB 10 million from Jiangsu Bank, primarily for working capital needs [2]. Financial Information - As of March 31, 2025, Jiangsu Dajin Heavy Industry Co., Ltd. reported total assets of RMB 398.48 million and total liabilities of RMB 320.28 million, with a net asset value of RMB 78.19 million [3][4]. - Tianhai Defense's total external guarantees amount to approximately RMB 3.1 billion, which is 148.11% of its audited net assets as of December 31, 2024 [7]. Approval Process - The board of directors approved the external guarantee plan for 2025, allowing a total external guarantee limit of RMB 3.4 billion, subject to shareholder approval [2].