Zheng Quan Zhi Xing·2025-06-06 08:08Core Viewpoint - The company, Mingyang Smart Energy Group Co., Ltd., is executing a share repurchase agreement with Jiangsu Haiji New Energy Co., Ltd. after triggering the repurchase conditions outlined in their previous investment agreement, involving a total investment of RMB 190 million [1][2][3]. Transaction Overview - The company invested RMB 190 million in Jiangsu Haiji New Energy on February 9, 2022, and has the right to request a share repurchase due to unmet IPO filing conditions by December 31, 2024 [2][3]. - The repurchase will be executed through a capital reduction, with payments structured in installments, including principal and interest at an annual rate of 8% [2][10]. Related Party Transactions - The transaction is classified as a related party transaction due to the former company secretary serving as a director at Jiangsu Haiji New Energy, but it does not qualify as a major asset restructuring [1][3]. - In the past 12 months, the company has engaged in related party transactions totaling RMB -842,600, all of which were routine and approved by the shareholders' meeting [1][3]. Financial Information - Jiangsu Haiji New Energy's financials as of March 31, 2025, show total assets of RMB 175,831.62 million and a net loss of RMB -6,450.31 million for the previous year [6]. - Jiangsu Baichuan High-tech New Materials Co., Ltd., the controlling shareholder of Jiangsu Haiji New Energy, reported total assets of RMB 1,236,957.98 million and a net profit of RMB 4,221.60 million for the same period [8]. Agreement Details - The agreement stipulates that the repurchase price will be calculated based on the original investment plus interest, with penalties for late payments [11][13]. - The agreement will take effect upon approval from the respective boards of the involved parties [12][13]. Impact on the Company - The transaction is deemed necessary for the company to maintain oversight of its investment in Jiangsu Haiji New Energy and does not harm the interests of shareholders, particularly minority shareholders [14].