Mei Ri Jing Ji Xin Wen·2025-05-08 14:59Core Viewpoint - Tongrun Equipment has received a cash compensation of approximately 45 million yuan from Chint Electric and other parties due to unmet performance commitments related to the acquisition of Wenzhou Antai Power System Co., Ltd. two years ago [1][2]. Group 1: Acquisition and Compensation Details - The cash compensation is a result of Antai Power failing to meet its performance commitments during the agreed period [2][3]. - Chint Electric, which became the controlling shareholder of Tongrun Equipment through the acquisition, is involved in this compensation process, indicating a clear financial accountability between the parent and subsidiary companies [2]. - The acquisition involved Chint Electric transferring 86.97% of Antai Power's shares to Tongrun Equipment for approximately 730 million yuan, which subsequently led to Tongrun becoming a subsidiary of Chint Electric [2]. Group 2: Performance Commitments and Financial Impact - Chint Electric had committed that Antai Power would achieve net profits of no less than approximately 90 million yuan, 110 million yuan, and 140 million yuan for the years 2023, 2024, and 2025, respectively [2]. - As of the end of the performance commitment period, Antai Power achieved a cumulative performance of approximately 180 million yuan, resulting in a completion rate of 91.06% [4]. - The reasons for not meeting the performance commitments included fluctuations in revenue recognition due to project-based income and a decline in storage product prices, which affected Antai Power's revenue in 2024 [4].