Core Viewpoint - The company plans to invest 73.299 million yuan to purchase 32 residential units from its controlling shareholder's subsidiary, aiming to provide housing for employees, with a unit price of approximately 17,500 yuan per square meter [2]. Financial Summary - As of November 30, 2025, the subsidiary, Dongfang Real Estate, reported total assets of 730 million yuan and a net asset deficit of 92.5131 million yuan, with a net profit of -10.3174 million yuan and negative cash flow from operating activities of -266.0768 million yuan [4]. - The company had cash on hand of only 40.2036 million yuan, while long-term borrowings reached 419.6133 million yuan and other payables amounted to 378.1408 million yuan [4]. Project and Financing Details - The land for the "Yunxie Puting" project is currently under mortgage, with a loan amount of approximately 420 million yuan due by September 25, 2026, which could hinder the sale and transfer of the property if not repaid on time [4][5]. - The company assures that with proper funding and development arrangements, the subsidiary can deliver the property on schedule, mitigating risks of project delays or failures [5]. Market Comparison and Cost Analysis - The pricing of 17,500 yuan per square meter is deemed reasonable when compared to nearby properties, such as "Binjiang Tianjie·Jiangyu City" at 20,100 yuan per square meter and "Aokesu Yueyun Court" at 21,500.15 yuan per square meter [6]. - The company calculated that purchasing the property would be cheaper than renting, estimating an annual cost of approximately 1.466 million yuan for ownership versus 1.723 million yuan for renting [6]. Stock Performance - As of January 9, the company's stock price had decreased by 11.3% over the past 60 trading days, although there was a slight recovery in the last two trading days, with a current market capitalization of 41.9 billion yuan [6].

Core Viewpoint - Dongfang Cable plans to invest 73.299 million yuan to purchase 32 residential units from its controlling shareholder's affiliate, Dongfang Nanyuan Real Estate, to address employee housing needs, despite concerns over the financial health of the seller and the transaction's structure [1][4]. Financial Health of Dongfang Nanyuan Real Estate - As of November 30, 2025, Dongfang Nanyuan's total assets are 730 million yuan, but it has a negative net asset of 92.5131 million yuan, indicating insolvency [1][2]. - The company reported a net profit of -10.3174 million yuan for the first 11 months of 2025, with a negative cash flow from operating activities of -267 million yuan, highlighting significant financial distress [1][2]. Property and Debt Status - The property involved in the transaction, "Yunxie Puting," is currently under mortgage, with a loan of approximately 420 million yuan owed to Agricultural Bank of China, which poses potential challenges for property transfer and sale [2]. - Dongfang Group, the parent company, has committed to covering Dongfang Nanyuan's debts to the bank, and the bank has agreed to extend the loan repayment deadline to September 2028 [2]. Transaction Pricing and Justification - The purchase price of 73.299 million yuan translates to approximately 17,500 yuan per square meter, which is significantly lower than nearby properties priced at around 21,500 to 23,100 yuan per square meter [4][5]. - The company argues that purchasing the property is more cost-effective than renting, with projected annual costs of 1.466 million yuan for ownership compared to 1.723 million yuan for renting [5]. Payment Structure and Regulatory Concerns - The payment structure has been adjusted to a staggered plan: 50% upfront, 35% after construction acceptance, and 15% upon obtaining property rights, addressing regulatory concerns about potential financial relief for the seller [5]. - Dongfang Cable asserts that the payment method does not alleviate the financial strain on the affiliate nor does it constitute a benefit transfer to the related party [5].

Core Viewpoint - Dongfang Cable plans to invest 73.299 million yuan to purchase 32 residential units from its controlling shareholder's affiliate, Dongfang Real Estate, to meet employee housing needs, despite concerns over the financial health of the seller and the transaction's structure [1][4]. Financial Health of Dongfang Real Estate - Dongfang Real Estate has total assets of 730 million yuan but a negative net asset of -92.5131 million yuan, indicating insolvency [1][2]. - The company reported a net profit of -10.3174 million yuan and a negative cash flow from operating activities of -267 million yuan for the first 11 months of 2025, highlighting significant financial distress [1][2]. Property and Debt Status - The property involved in the transaction is currently mortgaged, with a loan of approximately 420 million yuan due to Agricultural Bank of China, which poses a risk to the sale and transfer of the property [2]. - Dongfang Group, the parent company, has committed to covering the debts of Dongfang Real Estate, and the bank has agreed to extend the loan repayment deadline to September 2028 [2]. Project Development and Payment Structure - The "Yunxie Puting" project is reportedly on schedule, with all buildings topped out and interior rough decoration completed, aiming for final inspection by February 28, 2027 [2][3]. - The payment structure for the property has been adjusted to a phased approach: 50% upfront, 35% after completion, and 15% upon obtaining the property rights certificate, which Dongfang Cable asserts does not alleviate the financial pressure on the seller [5]. Pricing and Necessity of Purchase - The purchase price of approximately 17,500 yuan per square meter is deemed reasonable compared to nearby properties, which have higher average prices [4]. - Dongfang Cable justifies the purchase by stating that the current rental arrangements for its 1,788 employees are insufficient and costly, with rental expenses nearing 1 million yuan in the first 11 months of 2025 [4][5].

Core Viewpoint - Dongfang Cable plans to invest 73.299 million yuan to purchase 32 residential units from its controlling shareholder's affiliate, Ningbo Dongfang Nanyuan Real Estate, to address employee housing needs, despite concerns over the financial health of the seller and the transaction's structure [1][4]. Financial Health of the Seller - Ningbo Dongfang Nanyuan Real Estate has total assets of 730 million yuan but a negative net asset of 92.5131 million yuan, indicating insolvency [1][2]. - The company reported a net loss of 10.3174 million yuan and a negative cash flow from operating activities of 266.7 million yuan for the first 11 months of 2025 [1][2]. Property Status and Financing - The property involved in the transaction is currently mortgaged, with a loan of approximately 420 million yuan due by September 2026 [2]. - Dongfang Cable's parent company has committed to cover the debts of the real estate company, and the bank has agreed to extend the loan term to September 2028 [2]. Project Development and Delivery - The "Yunxie Puting" project is expected to complete interior decoration by October 30, 2026, and pass project acceptance by February 28, 2027 [2][3]. - Dongfang Cable asserts that the real estate company can deliver the property on time, mitigating concerns about project delays [3]. Pricing and Payment Structure - The purchase price of approximately 1.75 million yuan per square meter is deemed reasonable compared to nearby properties, which have higher average prices [4][5]. - The payment structure has been adjusted to a staggered plan: 50% upfront, 35% after construction acceptance, and 15% upon obtaining property rights [5].

Core Viewpoint - Dongfang Cable plans to invest 73.299 million yuan to purchase 32 residential units from its controlling shareholder's affiliate, Ningbo Dongfang Nanyuan Real Estate, for employee accommodation, despite concerns over the financial health of the seller and the transaction's structure [2][4]. Financial Condition of the Seller - Ningbo Dongfang Nanyuan Real Estate has total assets of 730 million yuan but a negative net asset of 92.5131 million yuan, indicating insolvency [2][3]. - The company reported a net loss of 10.3174 million yuan and a negative cash flow from operating activities of 266.7 million yuan for the first 11 months of 2025 [2][3]. Debt and Collateral Issues - As of November 30, 2025, the seller has cash reserves of only 40.2036 million yuan, while long-term borrowings amount to 419 million yuan and other payables total 378 million yuan [3]. - The property in question is currently mortgaged to Agricultural Bank of China for approximately 420 million yuan, with the mortgage term ending on September 25, 2026, which could hinder the sale and transfer of the property if debts are not repaid [3]. Project Development Status - The "Yunxie Puting" project has completed the main structure and is in the finishing stage, with expected completion by October 30, 2026, and project acceptance by February 28, 2027 [3][4]. Pricing and Payment Structure - The purchase price of 73.299 million yuan translates to approximately 17,500 yuan per square meter, which is considered reasonable compared to nearby properties priced at 21,500 to 23,100 yuan per square meter [4][5]. - The payment structure has been adjusted to 50% upfront, 35% after construction acceptance, and 15% upon obtaining property rights, addressing regulatory concerns about potential financial relief for the seller [5]. Employee Accommodation Needs - Dongfang Cable has 1,788 employees, and the current rental accommodations are insufficient, with rental costs nearing 1 million yuan for the first 11 months of 2025 [4][5]. - The company estimates that purchasing the property will result in an average annual cost of 1.466 million yuan, compared to an estimated rental cost of 1.723 million yuan for similar properties [5].

本资产评估报告依据中国资产评估准则编制 宁波东方电缆股份有限公司拟资产购入 所涉及的北仑区小港"云榭璞庭"小区 1#楼 32 套 商品房买卖合同（预售）权益价值 资产评估报告 银信评报字（2025）甬第 0214 号 浙江银信资产评估有限公司 2025 年 12 月 16 日 中国资产评估协会 资产评估业务报告备案回执 | 报告编码: | 3030080001202500268 | | | --- | --- | --- | | 合同编号: | 银信评约(2025) 南第0199号 | | | 报告类型: | 法定评估业务资产评估报告 | | | 报告文号: | 银信评报字(2025) 南第0214号 | | | 报告名称: | 宁波东方申缆股份有限公司拟资产购入所涉及的"云搬璞庭"楼 盘1#楼32套住宅房地产合同权益价值 | | | 评估结论: | 75,230,800.00元 | | | 评估报告日: | 2025年12月16日 | | | 评估机构名称: | 浙江银信资产评估有限公司 | | | 签名人员: | 张宇 (资产评估师) | 正式会员 编号:30220027 | | | 梁勇 (资产评估师) ...

关于对《关于宁波东方电缆股份有限公司 有关购买房产暨关联交易事项的监管工作函》 评估相关问题回复 问题 1. 关于关联交易定价的公允性及必要性 请公司:(1)结合同区域同类住宅新房近期成交价格、楼盘定位、楼层差 异及东方置业向其他非关联方销售价格等因素,量化分析本次交易单价定价的 合理性;(2) 补充披露评估机构浙江银信资产评估有限公司对本次交易评估报 告全文、评估关键因素和条件、过程及结论,并说明仅选取"市场法"评估的 原因及合理性: 回复: (1) 结合同区域同类住宅新房近期成交价格、楼盘定位、楼层差异及东方 置业向其他非关联方销售价格等因素,量化分析本次交易单价定价的合理性; A. 区域同类住宅新房 同区域住宅楼盘新房一共有 3个,分别为滨江天街 · 江与城楼盘、奥克斯悦 云庭楼盘及四方新家园。 浙江银信资产评估有限公司 1其中滨江天街 · 江与城楼盘: 地理位置:位于江南路与经六路交叉口,距评估对象所在小区约3公里,离 轨道交通6号线(在建)小港西站较近; 备案均价:经宁波市房产交易信息服务网发布该小区 2025年7月最新备案 均价为 20100.00 元/㎡,实际网签价不公示，故无法获取; 楼盘定位 ...

证券代码：603606 证券简称：东方电缆 公告编号：2026-003 重要内容提示： 交易简要内容：宁波东方电缆股份有限公司（以下简称"公司"）拟 与关联方宁波东方南苑置业有限公司（以下简称"东方南苑置业"）签订《浙 江省商品房买卖合同》（以下简称《买卖合同》），购买其拥有的坐落于北仑区 小港季景路北、渡口路西"云榭璞庭"楼盘 1#楼 32 套住宅，建筑面积共 4200.35 平方米，交易金额为人民币 7,329.9050 万元（含税价）。 《买卖合同》中约定，买受人应当在本协议生效之日起至 2025 年 12 月 30 日前支付该商品房全部价款，截止公告披露日，该交易暂未实施。结合"云 榭璞庭"项目目前建设进度，公司拟采用分期付款方式，首付款 50%，通过竣 工验收备案后支付 35%，取得不动产权证后支付 15%。同时，公司控股股东宁 波东方集团有限公司（以下简称"东方集团"）为本次交易出具银行履约保函。 本次关联交易购买房产为预售房，预计 2027 年 12 月 30 日前交付； 后续需竣工验收后，双方根据不动产权交易过户的规定办理房产登记等相关 手续后方能正式完成，本次关联交易尚存在不确定性。 一、关 ...

证券代码：603606 证券简称：东方电缆 公告编号：2026-002 宁波东方电缆股份有限公司关于上海证券交易所 对公司拟购买房产暨关联交易事项的监管工作函的回复公告 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。 宁波东方电缆股份有限公司（以下简称"公司""上市公司"或"东方电缆"） 于近期收到上海证券交易所上市公司管理一部下发的《关于宁波东方电缆股份有 限公司有关拟购买房产暨关联交易事项的监管工作函》（上证公函【2025】4078号） （以下简称"监管工作函"）。公司收到监管工作函后高度重视，积极组织相关部 门对监管工作函所涉及问题进行全面核实和分析，并对所列事项逐一复核落实， 现就监管工作函所列事项进行逐项回复并说明如下： 本回复的字体代表以下含义： | 字体 | 含义 | | --- | --- | | 黑体（加粗） | 监管工作函所列问题 | | 宋体 | 对监管工作函所列问题的回复及说明 | 注：本监管工作函回复中，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。 2025 年 12 月 20 ...

证券代码：603606 证券简称：东方电缆 公告编号：2026-001 宁波东方电缆股份有限公司 关于投资设立全资子公司及设立分公司的进展公告 近日，公司已完成两家公司的工商注册登记手续，并取得了 舟山市市场监督管理局自由贸易试验区分局和北京市东城区市场 监督管理局核发的《营业执照》，具体登记信息分别如下： （一）浙江深远海输电创新研发有限公司 1、统一社会信用代码：91330900MAK4F9K78N 2、类型：其他有限责任公司 3、住所：中国（浙江）自由贸易试验区舟山市嵊泗县马迹山 港区港航大楼304-506 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。 一、对外投资设立全资子公司及公司分公司概述 2025年12月19日，宁波东方电缆股份有限公司（以下简称"公 司"）第七届董事会第3次会议审议通过了《关于投资设立全资子 公司的议案》《关于设立北京分公司的议案》，同意公司在浙江省 舟山市嵊泗县投资设立浙江深远海输电创新研发有限公司，注册 资本人民币1,000万元；同时，根据公司经营发展需要设立北京分 公司。具体内容详见公 ...