关于本次交易方案调整不构成重大调整的核查意见 焦作万方铝业股份有限公司（以下简称"上市公司"或"公司"）拟发行股 份购买杭州锦江集团有限公司等交易对方合计持有的开曼铝业（三门峡）有限公 司（以下简称"三门峡铝业"或"标的公司"）股权暨关联交易（以下简称"本 次交易"）。 于〈焦作万方铝业股份有限公司发行股份购买资产并募集配套资金暨关联交易预 案＞及其摘要的议案》等与本次交易相关的议案。 于〈焦作万方铝业股份有限公司发行股份购买资产暨关联交易报告书（草案）＞ 及其摘要的议案》《关于本次交易方案调整不构成重大调整的议案》等与本次交 易相关的议案，对本次重组方案进行了调整。 中国银河证券股份有限公司（以下简称"独立财务顾问"）作为本次交易的 独立财务顾问，对上市公司本次交易方案调整事项进行核查，并出具如下核查意 见： 一、本次交易方案调整的具体情况 本次交易方案调整的具体内容如下： 中国银河证券股份有限公司 份有限公司、新疆神火煤电有 股份有限公司、新疆神火煤电 限公司、阳光人寿保险股份有 有限公司、阳光人寿保险股份 限公司、厦门国贸宝达润实业 有限公司、厦门国贸宝达润实 有限公司、芜湖信新诺股权投 业有限公司、芜 ...

股票代码：000612 股票简称：焦作万方 上市地点：深圳证券交易所 焦作万方铝业股份有限公司 发行股份购买资产暨关联交易 报告书（草案）（摘要） 项目 交易对方 杭州锦江集团有限公司、杭州正才控股集团有限公 司、浙江恒嘉控股有限公司、杭州延德实业有限公 发行股份购买资产暨关联交易 司、曼联（杭州）企业管理合伙企业（有限合 伙）、甘肃东兴铝业有限公司等 19 名交易对方 独立财务顾问 签署日期：2025 年 8 月 声 明 本部分所述词语或简称与本报告书摘要"释义"所述词语或简称具有相同含义。 一、上市公司声明 本报告书摘要的目的仅为向公众提供有关本次重组的简要情况，并不包括重大资 产重组报告书全文的各部分内容。重组报告书全文同时刊载于深圳证券交易所网站。 公司及公司全体董事、高级管理人员保证上市公司及时、公平地披露信息，保证 本报告书摘要及其摘要内容的真实、准确、完整，不存在虚假记载、误导性陈述或者 重大遗漏，保证本报告书摘要所引用的相关数据的真实性和合理性，并对所提供信息 的真实性、准确性、完整性负相应的法律责任。 公司第一大股东及其一致行动人、全体董事、高级管理人员承诺：如本次交易所 披露或提供的信息涉 ...

Core Viewpoint - The company is planning to issue shares to acquire a 99.4375% stake in Kai Man Aluminum (Sanmenxia) Co., Ltd. from Hangzhou Jinjiang Group Co., Ltd. as part of a related transaction [1] Group 1 - The independent financial advisor, Huatai United Securities Co., Ltd., conducted a review of the company's insider information registration system and its implementation [1] - The company has established confidentiality measures and a system to limit the knowledge of sensitive information related to the transaction, in compliance with relevant laws and regulations [2] - During preliminary discussions regarding the transaction, necessary confidentiality measures were taken to control the number of participants and minimize the exposure of sensitive information [1][2]

Core Viewpoint - The company, Jiaozuo Wanfang Aluminum Co., Ltd., plans to issue shares to acquire a 99.4375% stake in Cayman Aluminum (Sanmenxia) Co., Ltd. from Hangzhou Jinjiang Group and other parties, constituting a related party transaction and a major asset restructuring [2][3]. Summary of Key Points Transaction Overview - The transaction price for the acquisition is set at 3,194,926.88 million yuan, based on an assessment by a qualified asset appraisal agency [2]. - The share issuance price is determined to be 5.52 yuan per share, which is not less than 80% of the average trading price over the previous 120 trading days [3]. Changes in Shareholding Structure - Before the transaction, the largest shareholder was Ningbo Zhongman Technology Management Co., Ltd. with an 11.87% stake. After the transaction, Jinjiang Group will become the largest shareholder with a 23.95% stake, while the actual controller remains Mr. Dou Zhenggang [3][4]. - The total share capital of the company will increase to 7,119,707,502 shares post-transaction, with several entities becoming shareholders holding more than 5% [6]. Shareholding Details - The shareholding structure before and after the transaction shows significant changes, with notable increases in holdings for Jinjiang Group, Zhengcai Holdings, Hengjia Holdings, and others [4][5][6]. Regulatory Compliance - The transaction is subject to multiple approval processes, including shareholder meetings and regulatory approvals from the Shenzhen Stock Exchange and the China Securities Regulatory Commission [7].

Group 1 - The acquisition involves the purchase of 99.4375% equity of Cayman Aluminum (Sanmenxia) Co., Ltd. by Jiaozuo Wanfang Aluminum Industry Co., Ltd. through the issuance of new shares [4][6] - The acquirer and its concerted parties will hold more than 30% of the shares post-acquisition, triggering the obligation for a mandatory tender offer [2][3] - The acquirer has committed not to transfer the newly issued shares for 36 months, which allows them to avoid the mandatory tender offer requirement after obtaining shareholder approval [2][3] Group 2 - The acquisition requires approval from the company's shareholders, Shenzhen Stock Exchange, and the China Securities Regulatory Commission before implementation [3] - The acquirer, Hangzhou Jinjiang Group Co., Ltd., has a registered capital of 1.34 billion RMB and has been involved in enterprise management and investment activities [6][8] - The financial performance of Jinjiang Group shows a total asset value of approximately 2.33 billion RMB for the fiscal year 2024, with a net profit of -18.8 million RMB [8] Group 3 - The concerted parties include Hangzhou Zhengcai Holding Group Co., Ltd., Zhejiang Hengjia Holding Co., Ltd., and Hangzhou Yande Industrial Co., Ltd., among others [4][6] - The financial data of Zhengcai Holding indicates total assets of approximately 753 million RMB for 2024, with a net profit of about 9.5 million RMB [14] - Zhejiang Hengjia Holding reported total assets of approximately 736 million RMB for 2024, with a net profit of around 110.7 million RMB [20] Group 4 - The acquisition is structured to ensure compliance with relevant laws and regulations, including the Company Law and Securities Law of the People's Republic of China [2][3] - The acquirer and its concerted parties have confirmed that the report does not contain any false statements or misleading information [3] - The acquisition aims to enhance the operational capabilities and market position of Jiaozuo Wanfang Aluminum Industry Co., Ltd. in the aluminum industry [4][6]

Group 1 - The company plans to issue shares to acquire a 99.4375% stake in Cayman Aluminum (Sanmenxia) Co., Ltd. from Hangzhou Jinjiang Group Co., Ltd. and other parties, which constitutes a related party transaction [1] - The draft report and the preliminary plan for the transaction were disclosed on March 15, 2025, outlining the details of the share issuance and related fundraising [1] - Key differences between the draft report and the preliminary plan include updates on the decision-making process, approval status, and commitments from the parties involved in the transaction [2][3] Group 2 - The draft report includes additional disclosures regarding the asset evaluation and pricing, as well as updates on the risk factors associated with the transaction [4][6] - New sections have been added to the report, including compliance analysis, major contracts, and financial information, which were not present in the preliminary plan [5][6] - The report also updates the independent directors' opinions and includes statements from major shareholders and intermediaries regarding the transaction [6][7]

Core Viewpoint - The report outlines the equity change of Jiaozuo Wanfang Aluminum Industry Co., Ltd., indicating that Man United (Hangzhou) Enterprise Management Partnership (Limited Partnership) will increase its shareholding by subscribing to newly issued shares as part of an asset acquisition deal involving a 99.4375% stake in Cayman Aluminum (Sanmenxia) Co., Ltd. [1][2][3] Group 1: Equity Change Details - The equity change involves Man United acquiring a 6.6000% stake in Jiaozuo Wanfang through the subscription of newly issued shares [3][5]. - After the transaction, Man United will hold 393,428,571 shares, representing 5.53% of the total share capital of Jiaozuo Wanfang [6][12]. - The transaction is structured as a share issuance to purchase assets, with the total transaction value set at 3,194,926.88 million RMB [8][10]. Group 2: Purpose and Future Plans - The purpose of the equity change is to enhance Jiaozuo Wanfang's asset scale and sustainable profitability by acquiring high-quality assets in the aluminum industry, thereby forming a complete aluminum material industry chain [4][12]. - Man United has no plans to increase or decrease its shareholding in the next 12 months beyond this transaction [4][12]. Group 3: Transaction Structure and Valuation - The shares will be issued at a price of 5.39 RMB per share, adjusted from an initial price of 5.52 RMB due to a cash dividend distribution [6][11]. - The valuation of the target company, Cayman Aluminum, was determined using the income approach, with a total assessed value of 3,213,600.00 million RMB [7][8].

焦作万方铝业股份有限公司董事会 关于本次交易摊薄即期回报情况及填补措施的说明 焦作万方铝业股份有限公司（以下简称"上市公司"或"公司"）拟发行股 份购买杭州锦江集团有限公司等交易对方合计持有的开曼铝业（三门峡）有限公 司 99.4375%股权（以下简称"三门峡铝业"或"标的公司"）暨关联交易（以下 简称"本次交易"）。 根据《国务院办公厅关于进一步加强资本市场中小投资者合法权益保护工作 的意见》（国办发[2013]110 号）《国务院关于进一步促进资本市场健康发展的若 干意见》（国发[2014]17 号）以及《关于首发及再融资、重大资产重组摊薄即期 回报有关事项的指导意见》（中国证券监督管理委员会公告[2015]31 号）等规定 的相关要求，为保障中小投资者的权益，公司就本次交易对普通股股东即期回报 摊薄的影响进行了认真分析，并制定了填补回报的相关措施，具体如下： 本次交易完成后，标的公司将成为上市公司的控股子公司，上市公司的铝行 业业务布局将向上游拓展，形成"氧化铝—电解铝—铝加工"的完整铝基材料产 业链。根据测算，本次交易完成后预计不会出现上市公司即期回报被摊薄的情况， 但如果本次重组的标的公司盈利能力未 ...

焦作万方铝业股份有限公司董事会 本次交易符合《首次公开发行股票注册管理办法》及《深圳证券 交易所上市公司重大资产重组审核规则》相关规定的说明 焦作万方铝业股份有限公司（以下简称"焦作万方"或"公司"）拟发行股 份购买杭州锦江集团有限公司等交易对方合计持有的开曼铝业（三门峡）有限公 司 99.4375%股权（以下简称"三门峡铝业"或"标的公司"）暨关联交易（以下 简称"本次交易"）。 公司董事会对本次交易是否符合《深圳证券交易所上市公司重大资产重组审 核规则》第十条规定进行了审慎分析，具体情况如下： （一）标的公司符合《首次公开发行股票注册管理办法》相关规定的情况 1、标的公司符合《首次公开发行股票注册管理办法》第三条的规定 标的公司属于业务模式成熟、经营业绩稳定、规模较大、具有行业代表性的 优质企业，符合主板定位要求，具体情况如下： （1）业务模式成熟 三门峡铝业成立于 2003 年，是国内第一家成功利用国内铝矾土生产氧化铝 的民营企业，且是全球领先的铝基材料龙头企业，主营业务为氧化铝、电解铝、 烧碱、金属镓等产品的生产和销售，主持建成了国内首条单线年产 80 万吨、100 万吨以及 120 万吨氧化铝生产线 ...

焦作万方铝业股份有限公司（以下简称"上市公司"）拟发行股份购买杭州 锦江集团有限公司等交易对方合计持有的开曼铝业（三门峡）有限公司 99.4375%股权暨关联交易（以下简称"本次交易"）。 根据《上市公司监管指引第 7 号——上市公司重大资产重组相关股票异常 交易监管》第十二条和《深圳证券交易所上市公司自律监管指引第 8 号——重 大资产重组》第三十条的规定，经上市公司董事会审慎核查，现就本次交易相 关主体不存在不得参与任何上市公司重大资产重组情形说明如下： 截至本说明出具日，本次交易涉及的相关主体均不存在因涉嫌与本次交易 相关的内幕交易被立案调查或者立案侦查的情形，最近 36 个月内不存在因与重 大资产重组相关的内幕交易被中国证监会作出行政处罚或者被司法机关依法追 究刑事责任的情形。 综上，本次交易相关主体不存在《上市公司监管指引第 7 号——上市公司 重大资产重组相关股票异常交易监管》第十二条和《深圳证券交易所上市公司 自律 监管指引第 8 号——重大资产重组》第三十条规定的不得参与任何上市公 司重大资产重组的情形。 焦作万方铝业股份有限公司董事会 关于本次交易相关主体不存在《上市公司监管指引第 7 号— ...