Fujian Tianma Technology Group Co., Ltd. announced on October 8 that the company and its subsidiaries had failed to fulfill some debt repayment obligations on time. As of October 7, overdue principal on loans from financial institutions and bills totaled 230 million yuan, accounting for 10.90% of the company's most recent audited net assets. Of this, overdue principal on loans from financial institutions was 160 million yuan, and overdue principal on bills was 70.1446 million yuan. The company cautioned that the overdue debts may lead to higher financial expenses and weaker financing capacity. If not properly resolved later, the company may face risks such as litigation, arbitration, performance of guarantee obligations, frozen bank accounts, and frozen assets, which could affect this year's performance. The company is working through multiple channels to broaden financing options, raise funds for repayment, and negotiate with creditors on extensions and adjusted repayment plans. On the same day, the company also disclosed that part of the shares held by controlling shareholder and actual controller Chen Qingtang had been frozen pending rotation. Chen Qingtang holds 85.2038 million shares of the company, representing 16.85% of total share capital. The shares frozen pending rotation this time amount to 4.4479 million shares, representing 5.22% of his holdings and 0.88% of total share capital. As of the disclosure date, Chen Qingtang and his concert parties together hold 147 million shares of the company, representing 29.12% of total share capital. Among these, a cumulative 2.9338 million shares have been judicially frozen, representing 1.99% of their holdings and 0.58% of total share capital, and a cumulative 7.8236 million shares have been frozen pending rotation, representing 5.31% of their holdings and 1.55% of total share capital. The company said the current freeze pending rotation will not have a material impact on daily production and operations or corporate governance, nor will it cause a change in the controlling shareholder or actual controller. However, if related debt disputes cannot be properly resolved with creditors in the future, the frozen shares may be subject to forced transfer or judicial auction. Tianma Technology was founded in 2005 and listed on the main board of the Shanghai Stock Exchange in January 2017. Its main businesses include specialty aquaculture, animal husbandry, marine food, and marine seed industries. In the first half of 2026, it achieved revenue of 3.132 billion yuan, up 5.34% year on year, while net profit attributable to shareholders of the listed company was 12.3279 million yuan, down 79.53% year on year.
Fujian Tianma Science and Technology Group Co LtdCompany and subsidiaries failed to repay 230 million yuan in overdue loans and bills, raising financial expenses and financing risk that could hurt this year's performance.
