Xingyuan Environment announced that its total external guarantee amount reached 6.708 billion yuan, equivalent to 10,760.02 percent of its latest audited net assets, while the outstanding guarantee balance of 3.586 billion yuan accounts for 5,751.09 percent of net assets — a ratio extremely rare in the A-share market. On the same day, the company disclosed that Chairman Wu Yongben resigned for personal reasons, having served only just over a year since taking office in January 2025, with pre-tax compensation of 1.8016 million yuan in 2025. The company also nominated Zhang Haishan, proposed by the controlling shareholder, as a candidate for non-independent director, while Yuan Jiajie stepped down as deputy general manager and was reassigned as board secretary. In addition, the cumulative amount of litigation and arbitration involving the company and its controlled subsidiaries totaled 14.8438 million yuan, all as defendants, covering six cases currently at the first-instance stage. Xingyuan Environment has reported net losses attributable to the parent company for six consecutive years since 2020, with its asset-liability ratio reaching 92.41 percent as of the end of 2025, and a net loss attributable to the parent of 31.8597 million yuan in the first quarter of 2026.
Xingyuan Environment Technology Co LtdExternal guarantees at 107x net assets, chairman resignation, and continued losses signal severe financial distress.