Core Viewpoint - The company is undergoing a significant asset restructuring, including a share issuance and cash payment for asset acquisition, which is subject to scrutiny by the Shanghai Stock Exchange [1] Financial Performance - The target company, Advanced Assembly Materials International Limited (AAMI), reported revenues of 3,130.23 million yuan, 2,205.30 million yuan, and 1,823.87 million yuan for the years 2023 and 2024, indicating a 30.79% year-on-year decline in 2023 due to macroeconomic factors and semiconductor industry cycles [3][4] - For 2024, AAMI's projected annual revenue is 2,486.21 million yuan, with a fourth-quarter revenue of 662.34 million yuan, reflecting a 12.74% year-on-year increase and a 35.00% increase in the fourth quarter [6][8] - The net profit attributable to the parent company for 2024 is expected to be 55.19 million yuan, showing a significant increase of 173.51% compared to the previous year [6] Customer and Sales Model - AAMI's sales are primarily derived from direct sales, with consignment sales accounting for 17.58%, 20.49%, and 18.83% of total sales during the reporting period [3][4] - The top five customers under the consignment model include major semiconductor manufacturers, indicating a strategic focus on maintaining strong relationships with key industry players [9][10] Pricing Trends - The average price of AAMI's lead frames showed a slight decline in 2024, with a unit price of 7.55 yuan in the fourth quarter, but is expected to stabilize and recover due to market conditions [6][8] - The pricing trends for AAMI's products are consistent with industry movements, as comparable companies have also reported similar pricing patterns [8][15] Revenue Recognition - AAMI's revenue recognition policy aligns with industry standards, confirming revenue upon the transfer of control to customers, particularly in consignment sales where customers provide usage reports [12][15] - The internal controls for revenue recognition in consignment sales are robust, ensuring accurate reporting based on actual product usage [18][19] Strategic Partnerships - Tongfu Microelectronics, a long-term customer, has indirectly acquired a stake in AAMI to strengthen supply chain stability, with no significant changes in sales volume observed post-acquisition [20][22] - The partnership with Tongfu Microelectronics is aimed at enhancing collaboration within the semiconductor supply chain, without involving technical cooperation in the acquisition agreement [21][22]

Core Viewpoint - The financial statements of Jiaxing Jingyao Enterprise Management Partnership (Limited Partnership) reflect the company's adherence to the accounting standards set by the Ministry of Finance of the People's Republic of China, ensuring a true and complete representation of its financial position and performance as of December 31, 2024, and December 31, 2023 [1][4]. Financial Reporting Basis - The company prepares its financial statements based on the going concern assumption, with no significant doubts regarding its ability to continue operations for the next 12 months from December 31, 2024 [1]. - The accounting records are maintained on an accrual basis, with historical cost as the primary measurement basis, except for certain financial instruments measured at fair value [1][4]. Fair Value Measurement - Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date [2]. - Fair value inputs are categorized into three levels based on their observability: Level 1 (quoted prices in active markets), Level 2 (observable inputs other than quoted prices), and Level 3 (unobservable inputs) [3]. Important Accounting Policies - The company recognizes financial assets and liabilities at fair value upon initial recognition, with subsequent measurement based on their classification [5][6]. - Financial assets are classified as either measured at amortized cost or at fair value through profit or loss, depending on the business model and contractual cash flow characteristics [6][8]. Financial Performance - As of December 31, 2024, the company reported a total capital of RMB 602,739,820, an increase from RMB 589,941,000 as of December 31, 2023, indicating a growth in partner equity [22][26]. - The company incurred a net loss of RMB 5,903,978.18 for the year, leading to an accumulated loss of RMB 23,799,852.87 by the end of 2024 [26][27]. Management Fees and Expenses - The annual management fee is calculated at 0.2% of the total capital contributed by limited partners, while the advisory fee is set at 0.8% [20]. - Total management and advisory fees for the reporting period amounted to RMB 5,899,410 [22][26]. Taxation - The company is classified as a small-scale taxpayer, subject to a 3% VAT rate, along with other applicable local taxes [21].

Core Viewpoint - The independent financial advisor, Huatai United Securities, conducted a special review regarding the major asset restructuring of Shenzhen Zhizheng High Polymer Materials Co., Ltd. (Zhizheng Co.) and confirmed that the company has complied with its commitments and that there are no irregularities in its operations or financial reporting [1][2][7]. Group 1: Commitment Fulfillment - The company and related parties have fulfilled their public commitments since its listing, with no irregular commitments identified [2][5]. - The independent financial advisor verified that there are no unfulfilled commitments or incomplete commitments from the company and related parties [2][7]. Group 2: Compliance and Regulatory Issues - The company has established clear regulations regarding related transactions and external guarantees in its articles of association and decision-making processes [2][5]. - There were past issues with the former actual controller regarding guarantees, but these have been resolved through a settlement agreement, and no ongoing violations exist [3][4][7]. Group 3: Financial Performance and Accounting Compliance - The independent financial advisor reviewed the company's financial reports for the last three years and confirmed that they were prepared in accordance with accounting standards, reflecting the company's financial status accurately [8][10]. - The company reported total revenues of 36,456.27 million yuan in 2024, with a net loss of 1,785.03 million yuan [10][12]. - The advisor found no evidence of false transactions, profit manipulation, or related party transactions that would indicate improper financial practices [11][17]. Group 4: Asset Evaluation for Restructuring - The evaluation of the assets to be disposed of was conducted using the asset-based approach, with a total asset book value of 39,606.02 million yuan and an assessed value of 42,508.32 million yuan, indicating a valuation increase of 2,902.29 million yuan [18][20]. - The evaluation methods and assumptions used were deemed reasonable and aligned with the actual operating conditions of the assets [20][23].

证券代码：603991 证券简称：至正股份 公告编号：2025-032 深圳至正高分子材料股份有限公司 第四届监事会第十二次会议决议公告 本公司监事会及全体监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、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 深圳至正高分子材料股份有限公司（以下简称"公司"）第四届监事会第十 二次会议通知及会议材料已于 2025 年 5 月 27 日以书面、通讯方式送达全体监 事，所有监事一致同意豁免会议通知期限。 会议于 2025 年 5 月 29 日在公司会议室以现场结合通讯方式召开。本次会 议由监事会主席王靖女士主持，应出席监事 3 人，实际出席监事 3 人，与会监 事以记名投票方式投票表决。本次会议的召集、召开符合有关法律、行政法规、 部门规章、规范性文件和《深圳至正高分子材料股份有限公司章程》的规定， 会议合法、有效。 具体内容详见公司于同日在上交所网站（www.sse.com.cn）披露的《深圳 至正高分子材料股份有限公司重大资产置换、发行股份及支付现金购买资产并 募集配套资金暨关联交易报告书（草案）（修订稿）》及其摘要。 本 ...

深圳至正高分子材料股份有限公司董事会 关于本次交易符合《上市公司重大资产重组管理办法》第十 一条、第四十三条和第四十四条规定的说明 （四）本次交易所涉及的资产权属清晰，在相关法律程序和先决条件得到适 当履行的情形下，资产过户或者转移不存在法律障碍，相关债权债务处理合法； （五）本次交易有利于上市公司增强持续经营能力，不存在可能导致上市公 司重组后主要资产为现金或者无具体经营业务的情形； （六）本次交易有利于上市公司在业务、资产、财务、人员、机构等方面与 实际控制人及其关联人保持独立，符合中国证监会关于上市公司独立性的相关规 定； （七）本次交易前，公司已按照《中华人民共和国公司法》《中华人民共和 国证券法》和中国证监会的有关要求，建立了相应的法人治理结构。本次交易完 成后，公司仍将严格按照法律、法规和规范性文件及《公司章程》的要求规范运 作，不断完善公司法人治理机构。本次交易有利于公司保持健全有效的法人治理 结构。 综上，本次交易符合《上市公司重大资产重组管理办法》第十一条规定。 深圳至正高分子材料股份有限公司（以下简称"上市公司"、"公司"）拟 通过重大资产置换、发行股份及支付现金的方式取得先进封装材料国际 ...

Core Viewpoint - Shenzhen Zhizheng High Polymer Materials Co., Ltd. plans to conduct a major asset swap, issue shares, and pay cash to acquire Advanced Assembly Materials International Limited, along with raising supporting funds through related transactions [1]. Summary by Sections Major Asset Swap and Financial Updates - The company received an inquiry letter from the Shanghai Stock Exchange regarding the asset swap and related transactions on April 2, 2025, and disclosed a revised draft report on May 30, 2025 [1]. - The report was updated to reflect financial data as of December 31, 2024, and included revisions based on the inquiry letter [2]. Key Revisions in the Report - Definitions section was updated for better investor understanding [2]. - Major events and risks were updated to include 2024 financial data [2]. - The first chapter provided an overview of the transaction with updated financial data [2]. - The second chapter updated the company's 2024 financial data and share structure [2]. - The third chapter included updated financial and operational data for the transaction counterpart [2]. Asset Details - The fourth chapter provided basic information on the assets to be acquired, including operational qualifications [3]. - The fifth chapter updated the financial and operational data of the assets to be disposed of [3]. Funding and Compliance - The sixth chapter disclosed the specific uses of the raised funds [3]. - The seventh chapter included a fair value analysis of the asset pricing [3]. - The ninth chapter updated the compliance analysis based on new regulations [3]. Management and Financial Analysis - The tenth chapter included discussions and analyses from management [4]. - The eleventh chapter updated the financial data of the target company and pro forma financial data of the listed company [4]. - The thirteenth chapter analyzed risk factors based on the updated financial data [4]. Declarations - The eighteenth chapter updated declarations from the company's board, supervisors, and senior management based on the latest information [4].

深圳至正高分子材料股份有限公司 第四届董事会独立董事第三次专门会议审核意见 深圳至正高分子材料股份有限公司（以下简称"公司"）第四届董事会独立 董事第三次专门会议于 2025 年 5 月 29 日在公司会议室以通讯的方式召开，所有 独立董事一致同意豁免会议通知期限。会议应出席独立董事 3 人，实际出席独立 董事 3 人。本次会议的召开符合《中华人民共和国公司法》 （以下简称"《公司法》"）、 《上市公司独立董事管理办法》等法律、法规及《公司章程》的有关规定。 经与会独立董事审议，会议通过了拟提交公司第四届董事会第十六次会议审 议的关于公司拟通过重大资产置换、发行股份及支付现金的方式直接及间接取得 Advanced Assembly Materials International Ltd.（以下简称"AAMI"）之 99.97%的 股权及其控制权，置出公司全资子公司上海至正新材料有限公司（以下简称"至 正新材料"或"拟置出资产"）100%股权，并募集配套资金（以下合称"本次交 易"或"本次重大资产重组"）相关事宜，并发表审核意见如下： 行股份及支付现金购买资产并募集配套资金暨关联交易申请的审核问询函》（上 证上 ...

客户H 深圳至正高分子材料股份有限公司 (除特别说明外，货币单位均为人民币元) 客户I之子公司i 3,709,482.32 3 , 7 0 9 ,4 8 2 . 3 2 100.00% 预 计无法 收回 其他 860,560.80 860,560.80 100.00% 预 计无法收 回 合 计 13,175,022.56 13,175,022.56 按组 合 计 提 坏 账 准 备 ： 组合 计 提 项 目： 按信 用风 险特 征 组 合 计 提 坏 账 准 备 的应 收 账 款 名 称 应收 账款 坏账 准 备 预期 信 用 损失 率 按信用风险特征组合计 提坏账准备的应收账款 合 计 6 1 1 , 9 60 , 4 6 8 . 3 0 2 , 21 5 , 9 76. 5 8 0. 36% (3) 报 告期 计 提 、 收 回或 转 回 的坏 账 准 备情 况 项 且 2 0 2 4 . 12 . 3 1 本期计 提 5 9 5, 3 2 3 . 0 0 本期核 销 520,819.91 本期收回或转 回 786,696.72 外币报表折算差 异 171,755.00 ( 4) 报 告 期 实 际核 销 ...

关于深圳至正高分子材料股份有限公司 重大资产置换、发行股份及支付现金购买资产 并募集配套资金暨关联交易申请的审核问询函 之回复报告 独立财务顾问 签署日期：二〇二五年五月 6-1-1 上海证券交易所： 按照贵所下发的《关于深圳至正高分子材料股份有限公司重大资产置换、发 行股份及支付现金购买资产并募集配套资金暨关联交易申请的审核问询函》（上 证上审（并购重组）〔2025〕20 号）（以下简称"审核问询函"）的要求，深圳 至正高分子材料股份有限公司（以下简称"公司"、"上市公司"或"至正股份"） 及相关中介机构就审核问询函所提问题进行了认真讨论分析，并按照要求在《深 圳至正高分子材料股份有限公司重大资产置换、发行股份及支付现金购买资产并 募集配套资金暨关联交易报告书（草案）（修订稿）》（以下简称"重组报告书"） 中进行了补充披露，现将相关回复说明如下。 本审核问询函回复（以下简称"本回复"）中回复内容的报告期指 2023 年、 2024 年；除此之外，如无特别说明，本回复所述的词语或简称与重组报告书中 "释义"所定义的词语或简称具有相关的含义。在本回复中，若合计数与各分项 数值相加之和在尾数上存在差异，均为四舍五 ...

嘉兴景曜企业管理合伙企业(有限合伙) (曾用名：嘉兴景曜投资合伙企业(有限合伙)) 财务报表及审计报告 2024 年度及 2023 年度 嘉兴景曜企业管理合伙企业(有限合伙) (曾用名：嘉兴景曜投资合伙企业(有限合伙)) 财务报表及审计报告 2024 年度及 2023 年度 | 内容 | | 页码 | | --- | --- | --- | | 审计报告 | 1 | - 2 | | 资产负债表 | 3 | - 4 | | 利润表 | | 5 | | 现金流量表 | | 6 | | 合伙人净资产变动表 | | 7 | | 财务报表附注 | 8 - | 24 | Deloite. 审计报告 德师报(审)字(25)第 S00450 号 (第1页,共2页) 嘉兴景曜企业管理合伙企业(有限合伙)全体合伙人: 一、审计意见 我们审计了嘉兴景曜企业管理合伙企业(有限合伙)(曾用名:嘉兴景曜投资合伙企业(有限合 伙),以下简称"贵企业")的财务报表,包括 2024年 12月 31日及 2023年 12月 31日的资产负债 表,2024 年度及 2023 年度的利润表、现金流量表、合伙人净资产变动表以及相关财务报表附 注。 我 ...