Tianhai Defense Equipment Technology Co., Ltd. announced on 10 Jul 2026 that it will provide guarantees for its wholly-owned subsidiary Jiangsu Dajin Heavy Industry Co., Ltd. The guarantees support Jiangsu Dajin's application for a comprehensive credit facility of up to RMB 440 million from Hengfeng Bank Yangzhou Branch, mainly for daily operational liquidity and issuance of bank guarantees. Additionally, Tianhai Defense will issue
corporate guarantees totaling USD 22.66 million (approximately RMB 154.17 million) for two 79.2-meter, 4,000 DWT offshore platform supply vessels ordered by NAM CHEONG DOCKYARD SDN. BHD. The vessels are under construction at Jiangsu Dajin Heavy Industry with delivery scheduled for 2028. Another guarantee of USD 20.44 million (about RMB 139.07 million) covers a 40,400 DWT bulk carrier ordered by Xin Qihang Qi (Tianjin) Ship Leasing Co., Ltd. These guarantees are part of Tianhai Defense's approved external guarantee plan for 2026, with a total authorized guarantee limit of RMB 5.3 billion. Jiangsu Dajin Heavy Industry, established in 2012 and fully owned by Tianhai Defense, specializes in shipbuilding and marine engineering equipment. The guarantees will be effective based on actual payment progress and contract fulfillment.
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