东宏股份: 东宏股份关于转让参股公司股权的公告

Transaction Overview - Shandong Donghong Pipe Industry Co., Ltd. plans to transfer its 7.296% stake in Tianjin Pipeline Engineering Group Co., Ltd. to Tianjin Water Group Co., Ltd. for a price of RMB 156,191,068.00 [1][2] - After the transaction, the company will no longer hold any shares in the pipeline group [1][2] - The transaction has been approved by the company's board and does not require shareholder approval [1][2] Counterparty Information - Tianjin Water Group Co., Ltd. is a limited liability company with a registered capital of RMB 800 million, established on January 12, 2016 [3] - The company is responsible for the management of urban water assets and related services within the city [3] Target Company Information - Tianjin Pipeline Engineering Group Co., Ltd. is a limited liability company with a registered capital of RMB 63,225.9 million, established on April 4, 1985 [4][5] - The company is primarily engaged in construction engineering, water supply, and environmental services [4][5] Financial Information of the Target Company - As of March 31, 2025, the total assets of the pipeline group were RMB 6,855,566.30 million, with total liabilities of RMB 5,008,896.70 million and owner's equity of RMB 1,846,669.60 million [5] - For the first quarter of 2025, the pipeline group reported operating income of RMB 249,867.71 million and a net profit of RMB 6,471.75 million [5] Valuation and Pricing - The transaction price was determined based on a fair valuation conducted by Beijing Zhongqi Hua Asset Appraisal Co., Ltd., which assessed the market value of the pipeline group's equity as of May 31, 2024 [8] - The net asset book value of the pipeline group was RMB 116,532.26 million at the time of the assessment [8] Impact of the Transaction - The transaction is expected to help the company focus on its core business, optimize resource allocation, and improve competitiveness [10] - The transfer will enhance the company's cash flow and align with its operational development plan [10]