Huafa Properties(SH:600325) Zheng Quan Zhi Xing·2025-05-13 10:47Core Viewpoint - The company plans to optimize its asset-liability structure and improve capital efficiency by launching a supply chain asset special plan with a total limit of up to 20 billion RMB, which can be reused [1][2][5]. Transaction Basic Information - The supply chain asset special plan will be based on accounts receivable from suppliers and will not constitute a major asset restructuring [1][2]. - The plan has been approved by the company's board and will require shareholder approval [1][6]. Related Party Transactions - The transaction involves related parties, specifically Huafa Group, which is the controlling shareholder, and Huajin Securities, a subsidiary of Huafa Group [2][3]. - The related party transactions exceed 5% of the company's latest audited net assets, necessitating shareholder approval [2][5]. Financial Data of Related Parties - Huafa Group has total assets of approximately 72.93 billion RMB and total liabilities of about 55.63 billion RMB as of December 31, 2024 [3]. - Huajin Securities has total assets of approximately 1.13 billion RMB and total liabilities of about 752.33 million RMB as of December 31, 2024 [3]. Pricing of Related Transactions - The pricing for the supply chain asset special plan will be based on industry average fees and market conditions, ensuring fairness and transparency [4][5]. Purpose and Impact of the Transactions - The supply chain asset special plan aims to optimize account management, reduce financial costs, and improve cash flow for the company [4][5]. Authorization Matters - The company will seek authorization from shareholders to allow the board chairman to decide on the issuance of the supply chain asset special plan products within the 20 billion RMB limit [4][5]. Procedures for Related Transactions - The independent directors have unanimously agreed that the plan will not harm the interests of the company or its shareholders and have submitted the proposal for board approval [5][6].