Rizhao Port plans to provide guarantees for bonds not exceeding 3 billion yuan for its wholly-owned subsidiary

Rada Finance | Feng Xiuyu Text | Li Yihui Editing

On February 25, Rizhao Port Co., Ltd. (Stock Code: 600017, Stock Abbreviation: Rizhao Port) announced that the company held the 22nd meeting of the eighth board of directors on February 25, 2026, during which it approved the proposal regarding providing guarantees for the non-public issuance of bonds by its wholly-owned subsidiary.

The company plans to provide joint liability guarantees for the non-public issuance of bonds by its wholly-owned subsidiary Rizhao Port Container Development Co., Ltd., with a scale not exceeding 3 billion RMB. The total guarantee amount will not exceed 3 billion RMB (including 3 billion RMB). The subsidiary is wholly owned by the company and mainly engaged in port operations and related businesses.

As of the disclosure date, the company and its controlling subsidiaries have no external guarantees and no overdue guarantees. This guarantee still requires approval from the company’s shareholders’ meeting.

According to Tianyancha data, Rizhao Port was established on July 15, 2002, with a registered capital of approximately 3.07565 billion RMB. The legal representative is Mou Wei, and the registered address is Haibin Second Road, Rizhao City. Its main businesses include loading and unloading operations, storage services, and port management.

Currently, the company’s chairman is Mou Wei, the secretary of the board is Liu Rong, with 5,794 employees. The actual controlling shareholder is the State-owned Assets Supervision and Administration Commission of Shandong Provincial People’s Government.

The company has stakes in 18 subsidiaries, including Laizhou Yuanchang Ship Agency Co., Ltd., Rizhao Port Container Development Co., Ltd., Rizhao Bonded Logistics Center Co., Ltd., China Yantai Foreign Vessel Agency Co., Ltd., Rizhao Port Shide Port & Shipping Co., Ltd., and others.

In terms of performance, the company’s operating revenue for 2022, 2023, and 2024 was 7.497 billion RMB, 8.157 billion RMB, and 8.456 billion RMB, respectively, with year-on-year growth of 15.26%, -3.58%, and 3.67%. Net profit attributable to the parent was 631 million RMB, 641 million RMB, and 655 million RMB, with year-on-year changes of -14.40%, -9.54%, and 2.21%. During the same period, the company’s asset-liability ratio was 53.34%, 60.75%, and 60.32%.

Regarding risks, Tianyancha data shows the company has 56 internal Tianyan risks, 889 surrounding risks, 264 historical risks, and 672 warning risks.