北京德恒（昆明）律师事务所 关于云南城投置业股份有限公司 2025 年第五次临时股东会的 法律意见 北京德恒（昆明）律师事务所 Beijing DeHeng Law Offices (KunMing) 云南省昆明市西山区西园路 126 号"融城优郡"B5 幢 3、4 层 电话（传真）：0871-63172192 邮编: 650032 北京德恒（昆明）律师事务所 关于云南城投置业股份有限公司 2025 年第五次临时股东会的法律意见 北京德恒（昆明）律师事务所 关于云南城投置业股份有限公司 2025 年第五次临时股东会的 法 律 意 见 云南城投置业股份有限公司： 北京德恒（昆明）律师事务所（下称"本所"）作为贵公司的常年法律顾问， 本次指派李泽春、李艳莉律师出席贵公司 2025 年第五次临时股东会（以下简称 "本次股东会"），并按照律师行业公认的业务标准、道德规范及勤勉尽责精神， 对贵公司提供的与本次股东会有关的文件资料进行了审查，现根据《中华人民共 和国公司法》《中华人民共和国证券法》《上市公司股东会规则》及《云南城投 置业股份有限公司章程》（以下简称"《公司章程》"）的规定，就贵公司本次 股东会的相关事项出 ...

证券代码：600239 证券简称：云南城投 公告编号：临 2025-060 号 云南城投置业股份有限公司 2025年第五次临时股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 481 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 703,198,703 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 43.7942 | | 份总数的比例（%） | | (一) 股东大会召开的时间：2025 年 8 月 20 日 (二) 股东大会召开的地点：昆明市西山区西园南路 34 号融城优郡 A4 栋写字 楼云南城投置业股份有限公司（下称"公司"）17 楼会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次大会符合《中华人民共和国公司法》及国家有关法律、法 ...

Market Overview - As of 13:59, the Shanghai Composite Index is at 3723.60 points, with a decline of 0.12% [1] - The total trading volume of A-shares today is 21,733.08 billion yuan [1] Moving Average Analysis - 26 A-shares have seen their 5-day moving average cross below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Yangzi New Materials: 5-day MA is 1.11% lower than the 10-day MA [1] - Ningbo Fanzheng: 5-day MA is 0.94% lower than the 10-day MA [1] - China Petroleum: 5-day MA is 0.40% lower than the 10-day MA [1] Individual Stock Performance - Yangzi New Materials (002652): Today's change is +0.52%, with a 5-day MA of 3.91 yuan and a 10-day MA of 3.95 yuan, showing a distance of -1.11% [1] - Ningbo Fanzheng (300998): Today's change is -1.59%, with a 5-day MA of 25.04 yuan and a 10-day MA of 25.28 yuan, showing a distance of -0.94% [1] - China Petroleum (601857): Today's change is -0.58%, with a 5-day MA of 8.62 yuan and a 10-day MA of 8.66 yuan, showing a distance of -0.40% [1] Additional Stock Insights - Huabei Pharmaceutical (600812): No change today, with a 5-day MA of 6.67 yuan and a 10-day MA of 6.69 yuan, showing a distance of -0.28% [1] - ST Modern (002656): No change today, with a 5-day MA of 2.27 yuan and a 10-day MA of 2.28 yuan, showing a distance of -0.26% [1] - TBEA (600089): Today's change is -0.81%, with a 5-day MA of 13.52 yuan and a 10-day MA of 13.55 yuan, showing a distance of -0.24% [1]

Core Viewpoint - Yunnan Chengtou is undergoing significant management changes amid ongoing financial losses, with expectations of continued negative net profits in the upcoming financial period [1] Management Changes - The company announced a major management reshuffle, with Cui Kai resigning as General Manager and Li Yang taking over the role, while Cui continues as Chairman and board member [1] Financial Performance - Yunnan Chengtou projects a net loss of between 30 million to 40 million yuan for the first half of 2025, indicating a decline in profitability compared to the same period last year [1] - The expected non-recurring net loss is estimated to be between 29 million to 39 million yuan, showing a slight improvement in losses compared to the previous year [1] Historical Context - As the first publicly listed real estate company in Yunnan Province, Yunnan Chengtou has faced continuous losses since 2019, attempting to alleviate financial pressure through asset disposals and inventory reductions, but with limited success [1] Financial Health - As of the end of the first quarter of 2025, the company's asset-liability ratio stands at a high 80.93%, indicating significant financial strain [1]

Group 1 - The core point of the announcement is that there has been no substantial progress in the major asset restructuring of Yunnan Chengtou Real Estate Co., Ltd. as of the date of the announcement [2][11] - The company is optimizing its asset structure and enhancing its risk resistance by selling 70% equity stakes in several subsidiaries, including Cangnan Yintai Real Estate Co., Ltd. and Hangzhou Haiwei Real Estate Development Co., Ltd. [3][12] - The restructuring involves a total of 12 companies, with the major assets being transferred to Yunnan Chengtou Kangyuan Investment Co., Ltd., a wholly-owned subsidiary of the controlling shareholder Yunnan Province Kanglv Holding Group Co., Ltd. [3][12] Group 2 - As of now, the equity transfer for nine companies has been completed, while two companies, Ningbo Yintai and Beijing Fangkai, have not yet completed the industrial and commercial change registration [6][17] - The company has received a total of approximately 4.446 billion yuan from the sale of equity and debt claims from 11 target companies, with specific amounts for each company detailed [17] - The company has stated that the procedures for the major asset restructuring are compliant and legal, and the management rights for the transferred companies have been fully transferred to the asset acquirers [7][18]

Core Viewpoint - Yunnan Chengtou (600239.SH) is undergoing significant management changes following a profit warning for the first half of 2025, with the company expecting a net loss of between 30 million to 40 million yuan, marking a continued trend of losses since 2019 [1][8]. Management Changes - Recent announcements indicate that Cui Kai has resigned as General Manager while continuing as Chairman, and Li Yang has been appointed as the new General Manager [1][3]. - Both Cui Kai and Li Yang are in their 30s and have extensive experience within the company, with Cui Kai previously serving as the Chief Financial Officer [4][5]. - The management reshuffle follows the resignation of former Chairman Kong Weiran, who served for over two years and was the first female chairman in the company's history [1][5]. Financial Performance - Yunnan Chengtou has reported a projected net loss for the first half of 2025, with a decrease in losses compared to the previous year [1][8]. - The company has faced continuous losses for six years, with significant losses exceeding 2.5 billion yuan in 2019 and 2020 [8]. - As of the first quarter of 2025, the company's asset-liability ratio stands at 80.93%, indicating high financial leverage [10]. Business Strategy and Operations - The company is transitioning towards a "light asset" strategy, focusing on property management and commercial operations amidst increasing competition [10][11]. - In 2024, Yunnan Chengtou reported revenues of 1.929 billion yuan, with property management and commercial operations contributing 1.229 billion yuan, accounting for 63.73% of total revenue [9]. - The company has been actively selling off non-core assets to alleviate financial pressure, with significant asset disposals occurring in recent years [11].

电话（传真）：0871-63172192 邮编: 650032 北京德恒（昆明）律师事务所 关于云南城投置业股份有限公司 2025 年第四次临时股东会的法律意 见 北京德恒（昆明）律师事务所 北京德恒（昆明）律师事务所 关于云南城投置业股份有限公司 法律意见 北京德恒（昆明）律师事务所 Beijing DeHeng Law Offices (KunMing) 云南省昆明市西山区西园路 126 号"融城优郡"B5 幢 3、4 层 一、关于本次股东会的召集和召开程序 北京德恒（昆明）律师事务所（下称"本所"）作为贵公司的常年法律顾问， 本次指派李泽春、李艳莉律师出席贵公司 2025 年第四次临时股东会（以下简称 "本次股东会"），并按照律师行业公认的业务标准、道德规范及勤勉尽责精神， 对贵公司提供的与本次股东会有关的文件资料进行了审查，现根据《中华人民共 和国公司法》《中华人民共和国证券法》《上市公司股东会规则》及《云南城投 置业股份有限公司章程》（以下简称"《公司章程》"）的规定，就贵公司本次 股东会的相关事项出具如下法律意见： 关于云南城投置业股份有限公司 法 律 意 见 云南城投置业股份有限公司： 根据贵公 ...

证券代码：600239 证券简称：云南城投 公告编号：临2025-057号 云南城投置业股份有限公司 关于公司重大资产重组的进展公告 公司分别于 2021 年 3 月 22 日和 2021 年 4 月 19 日，召开了第九届董事会第 二十次会议、第九届监事会第十六次会议和 2021 年第二次临时股东大会，审议通 过了《关于<云南城投置业股份有限公司重大资产出售暨关联交易报告书（草案） 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 截止本公告日，本次重大资产重组无实质进展。 一、本次重组的基本情况 为优化云南城投置业股份有限公司（下称"公司"）资产结构，增强企业抗 风险能力，公司及下属全资子公司天津银润投资有限公司（下称"天津银润"） 通过在云南产权交易所公开挂牌转让的方式，出售公司持有苍南银泰置业有限公 司（下称"苍南银泰"）70%的股权、杭州海威房地产开发有限公司（下称"杭州 海威"）70%的股权、平阳银泰置业有限公司（下称"平阳银泰"）70%的股权、 杭州云泰购物中心有限公司（下称"杭州云泰"）70%的股 ...

证券代码：600239 证券简称：云南城投 公告编号：临2025-058号 云南城投置业股份有限公司 关于公司重大资产重组（2022 年）的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 截止本公告日，本次重大资产重组无实质进展。 云南城投置业股份有限公司（下称"公司"）（含全资下属公司天津银润投资 有限公司）以公开挂牌方式对外出售昆明城海房地产开发有限公司 100%的股权（下 称"昆明城海"）、西安东智房地产有限公司 100%的股权（下称"西安东智"）、海 南天联华投资有限公司 75%的股权（下称"海南天联华"）、海南天利投资发展有限 公司 75%的股权（下称"海南天利发展"）、昆明云城尊龙房地产开发有限公司 74% 的股权（下称"云城尊龙"）、台州银泰商业有限公司 70%的股权（下称"台州商业"）、 杭州西溪银盛置地有限公司 70%的股权（下称"杭州西溪"）、杭州萧山银城置业有 限公司 67%的股权（下称"杭州萧山"）、云南东方柏丰投资有限责任公司 51%的股 权（下称"东方柏丰"）、陕西西咸新区 ...

北京德恒（昆明）律师事务所 关于云南城投置业股份有限公司 2025 年第四次临时股东会的 法律意见 北京德恒（昆明）律师事务所 Beijing DeHeng Law Offices (KunMing) 根据贵公司提供的有关资料及公开披露的信息，表明贵公司董事会已于 2025 年 7 月 30 日召开了会议，作出了关于召开本次股东会的决议，并于 2025 年 7 月 31 日在《中国证券报》《上海证券报》《证券日报》《证券时报》和上 海证券交易所网站刊登了召开本次股东会的通知。本次股东会于 2025 年 8 月 15 日 14:00 在昆明市西山区西园南路 34 号融城优郡 A4 栋写字楼贵公司 17 楼会议 室召开，会议召开时间与通知公告时间间隔 15 天以上，会议召开的具体时间、 地点和审议事项也与相关公告内容一致。 本次股东会由贵公司董事长崔铠主持，符合法律、法规及《公司章程》的规 定。 二、关于出席本次股东会人员的资格 云南省昆明市西山区西园路 126 号"融城优郡"B5 幢 3、4 层 电话（传真）：0871-63172192 邮编: 650032 北京德恒（昆明）律师事务所 关于云南城投置业股份有限 ...