Huatong Cable provides a guarantee of $180 million and 10 million RMB for its subsidiary.

2026-02-27 14:35:45

Abstract generation in progress

Radar Finance | Text by Yang Yang | Edited by Li Yihui

On February 25, Huadong Cable (Stock Code: 605196) announced that the company and its actual controllers will provide guarantees for its subsidiaries. The guaranteed entities include Huadong International Trading Services (Singapore) Co., Ltd., Huadong International (Asia-Pacific) Co., Ltd., and Tangshan Huadong Special Cable Manufacturing Co., Ltd., with guarantee amounts of USD 180 million and RMB 10 million respectively.

The total guarantee amount accounts for 135.84% of the company’s most recently audited net assets. This move aims to support the subsidiaries’ business expansion needs, promote stable operations and long-term development, and align with the company’s strategic goals.

According to Tianyancha, Huadong Cable was established on June 21, 2002, with a registered capital of RMB 511.002781 million. The legal representative is Zhang Wendong, and the registered address is No. 111 Huadong Street, Fengnan Economic Development Zone. Its main businesses include the research, development, production, and sales of wires and cables, as well as oil and gas services.

Currently, the company’s chairman is Zhang Wendong, the secretary of the board is Luo Xiaoyu, with 2,642 employees. The actual controllers are Zhang Wenyong, Zhang Wendong, Zhang Shujun, and Zhang Baolong.

The company has stakes in 27 subsidiaries, including Huadong Petroleum Tangshan Technology Co., Ltd., Huadong International Trading Services (Singapore) Co., Ltd., EVERWELL CABLE AND ENGINEERING COMPANY LIMITED, EVERWELL CAMEROON CABLES AND ENGINEERING.SA, and Tangshan Huadong Special Cable Manufacturing Co., Ltd.

In terms of performance, the company’s revenue for 2022, 2023, and 2024 was RMB 5.193 billion, RMB 5.364 billion, and RMB 6.347 billion, respectively, with year-over-year growth of 18.10%, 3.30%, and 18.32%. Net profit attributable to shareholders was RMB 257 million, RMB 364 million, and RMB 319 million, with year-over-year increases of 122.64%, 41.74%, and a decline of 12.29%. During the same period, the company’s asset-liability ratios were 54.51%, 48.53%, and 55.56%.

Regarding risks, Tianyancha data shows the company has 139 internal Tianyan risks, 440 surrounding risks, 124 historical risks, and 149 warning alerts.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.