Group 1 - The core viewpoint of the articles highlights the importance of bond financing for technology innovation companies in Henan Province, aiming to enhance their funding channels and accelerate technological advancements [1][2] - The training session organized by the Henan Securities Regulatory Bureau and the Henan Listed Companies Association focused on the advantages and policies related to technology innovation bonds, providing insights into the bond market's role in supporting listed companies [1] - The issuance of the first technology innovation renewable corporate bond by Shennong Co., with a coupon rate of 2.59% and a subscription multiple of 3.69, demonstrates the growing interest and confidence in utilizing bond financing for innovation [2] Group 2 - Henan Province has cultivated a number of specialized and innovative enterprises that are crucial for the industrial transformation and upgrading of the region, although some still face challenges related to long financing cycles and high capital demands [2] - The technology innovation corporate bonds are seen as a vital tool for directing funds towards early-stage, small, long-term, and hard technology investments, injecting more vitality into the production capacity of Henan's listed companies [2] - The Henan Securities Regulatory Bureau plans to continue optimizing the regulatory environment and policy support to foster a healthy development ecosystem for corporate bond financing, thereby contributing to high-quality economic growth in the province [2]

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。 关于新增募集资金专户并签订四方监管协议的公告 一、募集资金基本情况 证券代码：600810 证券简称：神马股份 公告编号：2025-053 神马实业股份有限公司 经中国证券监督管理委员会（以下简称"中国证监会"）《关于核 准神马实业股份有限公司公开发行可转换公司债券的批复》（证监许 可〔2023〕338 号）的核准，神马实业股份有限公司（以下简称"神 马股份"或"公司"）公开发行可转换公司债券（以下简称"可转债"） 3,000.00 万张，发行价格为每张人民币 100.00 元，募集资金总额为人 民币 300,000.00 万元，扣除各项发行费用后的实际募集资金净额为人 民币 296,364.72 万元。本次可转债募集资金已于 2023 年 3 月 22 日存 入公司募集资金专户，立信会计师事务所（特殊普通合伙）进行了审 验，并出具了《神马实业股份有限公司公开发行可转换公司债券募集 资金验资报告》（信会师报字[2023]第 ZB10182 号）。 二、变更募集资金用途情况 公司 ...

Group 1 - The core point of the article highlights the significant increase in related party transactions for Shennong Co., which raised regulatory inquiries due to a 36% year-on-year surge in related procurement for 2024, amounting to 12.028 billion yuan [1] - The company reported that over 80% of its transactions with its controlling shareholder, Pingmei Shennong Group, involved core production materials such as benzene and raw coal, with a staggering 1074% increase in raw coal procurement to 568 million yuan due to heightened demand from its subsidiary's hydrogen chemical project [1] - The audit firm pointed out that the company did not procure key raw materials like benzene from non-related parties in 2024, leading to concerns about the fairness of pricing and the absence of comparable price data [1] Group 2 - The pricing mechanism and market doubts surrounding the related party transactions are under scrutiny, as the applicability of the comparable uncontrolled price method is challenged due to unique conditions in the transactions, such as exclusive supply and pipeline transportation [2] - The company’s governance transparency is questioned, particularly regarding its capitalized R&D expenditures and the lack of disclosure on amortization methods for intangible assets, raising compliance concerns [2] - The current situation reflects a typical contradiction in state-owned enterprises' supply chain integration, where reliance on the controlling shareholder's resources enables rapid capacity expansion, but excessive dependence may lead to a loss of independence and potential risks if the group's supply chain fluctuates [3]

Core Viewpoint - Shennong Co., Ltd. reported a significant increase in related party transactions in its 2024 annual report, with a total of 120.28 billion yuan, primarily due to increased procurement from its controlling shareholder and related parties [1] Group 1: Related Party Transactions - The total amount of related party transactions reached 120.28 billion yuan, with related procurement accounting for 98.37 billion yuan, a year-on-year increase of 36.24%, and related sales amounting to 21.59 billion yuan, up 5.03% [1] - The company has receivables from its controlling shareholder and related parties totaling 3.91 billion yuan, with prepayments of 1.25 billion yuan and other receivables of 1.62 billion yuan [1] Group 2: Procurement Details - The company procured a total of 50.09 billion yuan from its controlling shareholder, China Pingmei Shenma Group, mainly for five products: benzene, caprolactam, raw coal, liquid ammonia, and cyclohexanone, which accounted for approximately 69.62% of total procurement [2] - The procurement prices from related parties were lower than market averages due to cost savings from pipeline transportation and the advantages of integrated supply chains [2] Group 3: Reasons for Increased Procurement - The significant increase in related party procurement was attributed to new equipment purchases for ongoing projects by subsidiaries, with procurement amounts for subsidiaries like Puli Materials, Long'an Chemical, and Aidi'an increasing by 87.65% compared to the previous year [3] - The procurement of raw coal also surged, with quantities increasing from 4.98 million tons in 2023 to 65.46 million tons in 2024, resulting in a procurement amount increase of 1074.22% [3] - The company emphasized the necessity of related party procurement to leverage the centralized purchasing advantages of its controlling shareholder, ensuring quality and reducing costs [3]

Core Viewpoint - The company has successfully returned the temporarily used idle raised funds to the designated account within the stipulated time frame, ensuring that the normal investment projects are not affected [1][2]. Group 1: Fund Usage and Management - The company approved the use of idle raised funds not exceeding 1 billion yuan (100,000.00 million) for temporary working capital, with a usage period of no more than 12 months from the board's approval date [1]. - The company has utilized the entire 1 billion yuan of idle raised funds for temporary working capital and managed the funds reasonably without impacting the normal progress of investment projects [2]. Group 2: Fund Return - As of June 19, 2025, the company has fully returned the temporarily used idle raised funds to the designated account, ensuring no overdue usage occurred [2]. - The company has notified the sponsoring institution and the sponsoring representative about the return of the raised funds [2].

Core Viewpoint - The company has responded to the Shanghai Stock Exchange regarding its 2024 annual report, specifically addressing issues related to related party transactions and providing detailed disclosures on procurement and sales activities with its controlling shareholder and affiliates [1][2]. Related Party Transactions - In 2024, the company engaged in related party transactions amounting to 12.028 billion yuan, with related party purchases reaching 9.837 billion yuan, a year-on-year increase of 36.24%, and related party sales totaling 2.159 billion yuan [2]. - The company provided a detailed breakdown of its top five related party purchases, indicating that the prices for related party transactions were generally in line with market prices, demonstrating fairness in pricing [4][5]. Procurement Details - The top five related party procurement items included products such as benzene, caprolactam, and raw coal, which accounted for approximately 69.62% of total procurement [4]. - The increase in related party procurement was attributed to new equipment purchases for ongoing projects and stable procurement needs for raw materials [7]. Sales Activities - The company reported that its sales to related parties included products like nylon 66 chips and industrial yarn, with a significant portion of sales being directly shipped to end customers [9][10]. - The revenue from related party sales was confirmed to comply with accounting standards, with control over the products transferring to buyers at the point of delivery [10][11]. Financial Performance - The company’s total revenue from various products in 2024 was 1.384 billion yuan, with related party sales accounting for 215.892 million yuan, representing 15.59% of total revenue [9][11]. - The gross margin for certain products sold through related parties was reported, indicating a strategic approach to mitigate competition risks and optimize the supply chain [11][12]. Compliance and Risk Management - The company emphasized that its related party transactions were conducted based on normal business needs and adhered to market principles, ensuring no potential for profit transfer [8][12]. - The company has implemented measures to avoid competition with its affiliates by centralizing procurement and sales processes, thereby enhancing operational efficiency [11][12].

| 证券代码：600810 | 证券简称：神马股份 | 公告编号：2025-052 | | --- | --- | --- | | 债券代码：110093 | 债券简称：神马转债 | | 神马实业股份有限公司 截至 2025 年 6 月 19 日，公司已将上述暂时用于补充流动资金的闲置募集资 金全部归还至募集资金专户，未超期使用，并将上述募集资金归还情况通知了保 荐机构和保荐代表人。 神马实业股份有限公司董事会 2025 年 6 月 19 日 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。 神马实业股份有限公司(以下简称"公司")于 2024 年 6 月 26 日召开第十一 届董事会第三十九次会议及第十一届监事会第十五次会议，审议通过了《关于使 用部分闲置募集资金暂时补充流动资金的议案》，同意公司使用闲置募集资金不 超过 100,000.00 万元（含 100,000.00 万元）用于暂时补充流动资金，用于与公 司主营业务相关的业务，使用期限自公司董事会审议通过之日起不超过 12 个月， 并且公司将随时根据募投项目的进展及需求 ...

神马实业股份有限公司 2024年年报监管工作函回复 信会师函字[2025]第ZB058号 立信会计师事务所(特殊普通合伙) o china shu lun pan certified public accountants Llp 立信会计师事务所(特殊普通合伙) 关于上海证券交易所《关于神马实业股份有限公司2024年 年度报告的信息披露监管工作函》之回复 信会师函字[20251第ZB058号 上海证券交易所上市公司管理一部: 2025年5月12日，神马实业股份有限公司（以下简称"神马股份"或"公 司"）收到上海证券交易所上市公司管理一部下发的《关于神马实业股份有限 公司2024年年度报告的信息披露监管工作函》（上证公函《2025】0538号） (以下简称"工作函"），立信会计师事务所（特殊普通合伙）〈以下简称"立 信"）对于工作函中提到的需要会计师说明或发表意见的问题进行了认真分析与 核查,现根据工作函所涉问题进行说明和答复,具体内容如下: 在本回复中，相关简称与《神马实业股份有限公司2024年年度报告》中"释 义"所定义的词语或简称具有相同的含义。财务数据均保留两位小数，若出现总 数与各分项数值之和尾数不符 ...

证券代码：600810 证券简称：神马股份 公告编号：2025- 051 神马实业股份有限公司 关于上海证券交易所《关于神马实业股份有限公司2024年 年度报告的信息披露监管工作函》之回复公告 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。 2025年5月12日，神马实业股份有限公司（以下简称"神马股份"或"公司"） 收到上海证券交易所上市公司管理一部下发的《关于神马实业股份有限公司 2024年年度报告的信息披露监管工作函》（上证公函【2025】0538号）（以下 简称"工作函"），公司对工作函中提到的问题进行了认真分析与核查，现根据 工作函所涉问题进行说明和答复，具体内容如下： 在本回复中，相关简称与《神马实业股份有限公司2024年年度报告》中"释 义"所定义的词语或简称具有相同的含义。财务数据均保留两位小数，若出现总 数与各分项数值之和尾数不符的情况，均为四舍五入原因造成。 一、关于关联交易 年报显示，2024 年公司与控股股东及其关联方关联交易金额达 120.28 亿元， 其中，关联采购 98.37 亿元，同比增长 36 ...

Group 1 - The Henan provincial government has issued guidelines to promote high-quality investment attraction, emphasizing the transformation of urban investment companies into industrial investment companies and encouraging mergers [1] - The guidelines support provincial and municipal industrial investment companies to establish offshore investment companies and strengthen capital services [1] - There is encouragement for state-owned enterprises and investment funds to collaborate with financial institutions for project financing and to issue domestic and foreign bonds for capital injection [1] Group 2 - Henan province plans to issue a total of 165.73 billion yuan in local bonds for urban development, shantytown renovation, and other projects [3] - The bonds will include general bonds for education and water conservancy projects, as well as special bonds for social undertakings [3] - The issuance is scheduled for June 24, with the bonds set to start accruing interest on June 25 [3] Group 3 - Zhengzhou city has introduced policies to accelerate the development of technology finance, including support for issuing technology innovation bonds [4] - The policies aim to enhance financing channels for technology sectors and encourage local enterprises to apply for provincial bond issuance incentives [4] Group 4 - Shandong, Xinjiang, and Guizhou provinces are planning to issue "special" new special bonds totaling approximately 40.2 billion yuan for various government investment projects [6] - The bonds will have different terms, with Shandong issuing 119.98 billion yuan over 15 years, Xinjiang issuing 135.4 billion yuan and 143 billion yuan over 20 and 30 years respectively, and Guizhou issuing 4 billion yuan over 30 years [6] Group 5 - Shima shares plans to issue up to 1 billion yuan in convertible corporate bonds, with proceeds aimed at repaying company debts [7] - Muyuan Foods has submitted a registration for a 5 billion yuan corporate bond issuance, also intended for debt repayment [8] - The Zhumadian Huanghe Information Industry Investment Company is set to issue 700 million yuan in corporate bonds [9] Group 6 - The first batch of private venture capital institutions has successfully issued technology innovation bonds, with Jiangsu Yida issuing 150 million yuan and Shenzhen Dongfang Fuhai issuing 400 million yuan [10][11] - The Ministry of Finance plans to issue 170 billion yuan in book-entry interest-bearing government bonds with a coupon rate of 1.43% [12] Group 7 - The market has seen a net financing decrease in urban investment bonds, with a reported net financing of -39.7 billion yuan in the first five months of the year [18] - The total issuance of technology innovation bonds has reached 738.5 billion yuan, with significant growth in non-financial industry issuances [19]