CHINA SATCOM(SH:601698) Zheng Quan Zhi Xing·2025-04-01 10:23Core Viewpoint - The company is seeking approval for its 2025 annual routine related party transactions, which are deemed necessary for its operational needs and are expected to support stable development without harming the interests of shareholders, especially minority shareholders [1][2]. Summary of Related Party Transactions Basic Situation of Routine Related Party Transactions - The board of directors approved the proposal for routine related party transactions for 2025, which was unanimously supported by independent directors, affirming that the transactions align with the company's operational needs and adhere to fair pricing principles [1][2]. - The audit committee also reviewed and approved the proposal, emphasizing that the transactions would not adversely affect the company's overall interests or those of other shareholders [2]. Previous Related Party Transactions - The total expected amount for related party transactions in 2024 was capped at 282 million yuan, with actual transactions amounting to approximately 86.99 million yuan, indicating a significant difference attributed to business development needs [4][5]. Expected Related Party Transactions for 2025 - The company plans to engage in related party transactions with a total expected amount of 120.4 million yuan, which includes a significant contract for satellite procurement valued at approximately 240 million yuan [5][6]. Related Parties and Relationships Basic Information of Related Parties - The main related parties include the Aerospace Science and Technology Corporation and its subsidiaries, which are involved in various aerospace and satellite services [8][9]. - The company has a 30% indirect stake in Asia-Pacific Satellite Broadband Communication (Shenzhen) Co., Ltd., which is also considered a related party [9]. Execution and Performance of Previous Transactions - Previous related party transactions have been executed according to agreed terms without any defaults, indicating good creditworthiness and performance capability of the related parties [9]. Main Content and Pricing Policy of Related Transactions Main Content of Related Transactions - The transactions primarily involve satellite space segment operations and procurement of satellite-related hardware and services, which are essential for the company's operational needs [10]. Pricing Policy - The pricing for these transactions is determined through market-based negotiations, ensuring fairness and transparency without interference from the controlling shareholder [10].