Core Viewpoint - The announcement indicates that Far East Holdings Group Co., Ltd. has completed the release of share pledges, specifically 17 million shares, which represents 1.61% of its holdings and 0.77% of the company's total share capital [1] Summary by Relevant Sections - **Share Pledge Release** - Far East Holdings Group has released 17 million shares from pledge, effective on November 12, 2025 [1] - **Shareholding Structure** - Far East Holdings Group and its concerted parties hold a total of 1.066 billion shares, accounting for 48.03% of the company's total share capital [1] - **Pledged Shares** - The total number of pledged shares amounts to 861 million, which is 80.75% of the shares held by Far East Holdings Group [1] - **Future Pledge Plans** - There are currently no plans to re-pledge the released shares [1]

Core Viewpoint - Far East Holdings Group Co., Ltd. holds approximately 1.058 billion shares of Far East Smart Energy Co., Ltd., accounting for 47.69% of the total share capital [1] Group 1: Shareholding and Pledge Information - Far East Holdings has pledged approximately 861 million shares, representing 81.32% of its holdings [1] - Together with its concerted actions, Far East Holdings and its affiliates hold about 1.066 billion shares, which is 48.03% of the total share capital [1] - The total pledged shares by Far East Holdings and its affiliates amount to approximately 861 million, accounting for 80.75% of their holdings [1] Group 2: Revenue Composition - For the year 2024, the revenue composition of Far East Smart Energy is as follows: - Green building cables: 28.13% - Intelligent manufacturing cables: 27.86% - Smart grid cables: 19.43% - Smart airport: 6.36% - Clean energy cables: 5.3% [1] Group 3: Market Capitalization - As of the report, the market capitalization of Far East Smart Energy is 17.2 billion yuan [1]

证券代码：600869 证券简称：远东股份 公告编号：2025-092 招商银行股份有限公司无锡分行为新远东电缆提供授信服务，远东智慧能源 股份有限公司（以下简称"公司"）为新远东电缆提供人民币 12,000.00 万元的 担保并签订了《最高额不可撤销担保书》。 （二）内部决策程序 远东智慧能源股份有限公司 关于为新远东电缆有限公司提供担保的公告 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： 担保对象及基本情况 | | 被担保人名称 | 远东电缆"） | | 新远东电缆有限公司（以下简称"新 | | --- | --- | --- | --- | --- | | 担保对象一 | 本次担保金额 | 12,000.00 | 万元 | | | | 实际为其提供的担保余额 | 175,052.45 | 万元 | | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | 本次担保是否有反担保 | □是 | 否 | □不适用：_________ | 累计担保情况 | 对外担保逾 ...

远东控股及其一致行动人持有公司股份数量为 1,065,884,501 股，占公 司总股本比例为 48.03%；累计质押股份数量（含本次）为 860,730,000 股，占 其持股数量比例为 80.75%。 2025 年 11 月 13 日，公司接到控股股东远东控股的通知，远东控股办理了 股份解除质押业务，具体如下： | 股东名称 | 远东控股 | | --- | --- | | 本次解质股份（股） | 17,000,000 | | 占其所持股份比例 | 1.61% | | 占公司总股本比例 | 0.77% | | 解质时间 | 2025 年 11 月 12 日 | | 持股数量（股） | 1,058,453,851 | | 持股比例 | 47.69% | | 剩余被质押股份数量（股） | 860,730,000 | | 剩余被质押股份数量占其所持股份比例 | 81.32% | | 剩余被质押股份数量占公司总股本比例 | 38.78% | 重要内容提示： 远东控股集团有限公司（以下简称"远东控股"）持有远东智慧能源股 份有限公司（以下简称"公司"）股份数量为 1,058,453,851 股，占公司总股本 比例为 ...

【导读】远东股份十年前的并购，公司控股股东与被并购方的差额补偿纠纷仍无定论 中国基金报记者 南深 自证监会去年9月24日发布"并购六条"以来，A股市场并购重组交易如火如荼，延续至今。近日，一单发生在上一轮牛市（2015年）的并购重组及其衍生 的纠纷诉讼，引发市场关注。 这场诉讼发生在远东股份的控股股东远东控股和被并购标的福斯特公司（后更名为远东电池）的原实控人蔡道国、颜秋娥、蔡强（以下简称蔡道国方）之 间，源于远东控股未按双方签署的合同进行股份差额补偿。 这起案件一审在无锡市中级人民法院审理，蔡道国方胜诉，远东控股被判令支付本金及利息合计近4亿元。远东控股不服，于2023年7月上诉至江苏省高级 人民法院，江苏高院经过两年多审理、多次开庭仍未宣判，但在2024年9月曾召集双方，以口头释明方式认为案涉合同无效。 因该案时间跨度长、反复拉锯且过往没有类似判例，有法律界人士称其为"上市公司重大资产重组股票差额补偿第一案"。此前，认定差额补足条款无效的 判例均针对的是上市公司再融资中的定向增发保底行为，而本案为资产重组中的差额补足，因此其最终宣判结果及理由，对当下火热的并购重组市场无疑 极具借鉴意义。 广州一位证券律师 ...

Core Viewpoint - The ongoing legal dispute between Far East Holdings and the original controlling shareholders of Foster Company highlights the complexities and implications of share compensation agreements in mergers and acquisitions, particularly in the context of the A-share market's recent activity in restructuring transactions [2][3]. Group 1: Background of the Case - The lawsuit stems from a merger that took place in July 2015, where Far East Holdings acquired 100% of Foster Company for a total consideration of 1.2 billion yuan, with 420 million yuan in cash and 780 million yuan in stock [5]. - The share lock-up period for the shareholders involved was unusually long, lasting up to 10 years, which exceeded the regulatory requirement of 12 months [7][9]. Group 2: Legal Proceedings - The first instance ruling by the Wuxi Intermediate People's Court found in favor of the original shareholders, ordering Far East Holdings to pay nearly 400 million yuan in principal and interest [10][14]. - Far East Holdings appealed the decision to the Jiangsu High Court, which has yet to issue a final ruling but indicated that the contract in question may be invalid [16][18]. Group 3: Implications for the Market - This case is considered a landmark in the context of asset restructuring, as it is the first significant case regarding share compensation in mergers, potentially setting a precedent for future transactions in the A-share market [3][10]. - Legal experts suggest that the outcome of this case could provide guidance for resolving disputes in the rapidly evolving landscape of mergers and acquisitions in China [3][10].

Core Insights - Far East Smart Energy Co., Ltd. has signed a strategic cooperation agreement with Schneider Electric to enhance low-altitude economic development [1] Group 1 - The strategic cooperation agreement was signed between Beijing Jinghang An Airport Engineering Co., Ltd., a subsidiary of Far East Smart Energy, and Schneider Electric [1] - A white paper titled "Empowering Low-altitude Economic Development: Building a Safe, Resilient, and Sustainable Air Traffic Energy Base" was jointly released [1]

Core Insights - Far East Holdings (600869) made its debut as an exhibitor at the 8th China International Import Expo from November 5 to 10 [1] - Beijing Jinghang An Airport Engineering Co., Ltd. (referred to as "Jinghang An"), a subsidiary of Far East Holdings, signed a strategic cooperation agreement with Schneider Electric, a global expert in energy management and automation [1] - The collaboration aims to promote the green and intelligent future of the civil aviation industry through the release of a white paper titled "Empowering Low-altitude Economic Development: Building a Safe, Resilient, and Sustainable Air Traffic Energy Foundation" [1] Company Summary - Far East Holdings showcased its commitment to innovation and sustainability by participating in a major international expo [1] - The strategic partnership with Schneider Electric highlights the company's focus on digital transformation and energy management solutions in the aviation sector [1] Industry Summary - The initiative aligns with the broader trend of green and intelligent development within the civil aviation industry, emphasizing the importance of sustainable practices [1] - The white paper released in collaboration with Schneider Electric serves as a framework for advancing low-altitude economic development and enhancing air traffic energy infrastructure [1]

Core Insights - The global energy structure is transforming, leading to increased demand for electricity and a growing interest in the power grid equipment industry [1] - The power grid equipment sector has seen significant stock performance, with multiple companies experiencing price surges due to favorable industry news and government policies [2] - The global investment in power grids is expected to grow substantially, driven by renewable energy expansion and technological advancements [4] Industry Performance - On November 5, the power grid equipment sector strengthened, with stocks like Shuangjie Electric and TBEA hitting their daily price limits [2] - Recent government announcements, including new transmission and distribution project bids, have positively impacted several listed companies [2] - The "14th Five-Year Plan" emphasizes the importance of a new energy system, focusing on long-term development in areas like ultra-high voltage and smart grids [2] Market Opportunities - China's power equipment exports reached 65.596 billion yuan from January to September, marking a 36.33% year-on-year increase, driven by aging infrastructure in Europe and North America [2] - The International Energy Agency predicts that global annual investment in power grids will rise to $500 billion by 2030, with a compound annual growth rate of 12.6% [4] - UBS has raised its forecast for China's electricity demand growth from 2028 to 2030, indicating strong future market potential [5] Company Performance - The average increase in stock prices for power grid equipment companies this year is 42.9%, with nine stocks doubling in value [6] - Companies like Zhiyang Innovation and Caneng Electric have shown significant stock price increases, with Zhiyang Innovation up 199.16% [6] - Institutions predict that 15 power grid equipment stocks will see net profit growth exceeding 20% in the next two years [6] Financial Trends - The top five stocks predicted to have the highest average net profit growth include Far East Smarter Energy and Guangxin Technology, with Far East Smarter Energy leading at 160.5% [7] - As of November 4, power grid equipment stocks have seen a net inflow of 4.964 billion yuan in financing since October, with several stocks receiving over 1 billion yuan in net purchases [7]

Core Viewpoint - The article highlights significant developments in the energy storage market, particularly focusing on major contracts signed by companies in Australia and Europe, indicating a growing trend in energy storage solutions and the strategic moves of key players in the industry [1][2][3]. Group 1: Major Contracts and Collaborations - Trina Solar signed a 5GWh energy storage order with Pacific Green Energy Group, with deliveries planned from 2026 to 2028 [3]. - Pacific Green manages approximately 11GWh of global energy storage projects, with 7GWh located in Australia [5]. - Trina Solar has secured multiple GWh-level storage orders in recent months, including contracts totaling 2.48GWh across China, Latin America, and the Asia-Pacific region, and a 500MWh collaboration with Japan's Tohoku Electric Power [7]. Group 2: Company Performance and Financials - Far East Holdings reported a revenue of 20.209 billion yuan for the first three quarters of 2025, a year-on-year increase of 10.91%, with net profit rising by 268.86% to 168 million yuan [10]. - The company’s energy storage orders reached 1.196 billion yuan, reflecting a 43.10% year-on-year growth [10]. - Far East Holdings is pursuing an "ALL IN AI" strategy, achieving significant revenue growth in emerging markets, which may further enhance its energy storage business [11]. Group 3: Additional Contracts and Market Trends - Four Symbols New Energy signed a 500 million yuan energy storage system procurement contract with Hopu Co., with delivery scheduled for April 2026 [12][13]. - Hopu Co. has seen a substantial increase in its green energy segment, with revenue for the first half of 2025 reaching 20.8039 million yuan, a 256.89% increase year-on-year [13]. - The article notes that the energy storage sector is becoming increasingly important, with multiple companies securing significant orders, indicating a robust market outlook [15].