大连圣亚: 关于回复上海证券交易所问询函的公告

Core Viewpoint - The company faces significant financial challenges due to restricted assets, which account for 79.64% of total assets, primarily due to loan collateral and judicial freezes [1][2][3] Group 1: Restricted Assets - As of December 31, 2024, the company has restricted assets valued at 1.659 billion yuan, with major legal disputes affecting these assets [2][3] - The restricted assets include cash, fixed assets, and construction in progress, with specific cases of judicial freezes and loan collateral detailed [2][3][4] - The company has multiple ongoing lawsuits that contribute to the judicial freezes, including disputes with various entities over loan agreements and contractual obligations [3][4][5] Group 2: Debt and Repayment Arrangements - The company has short-term borrowings of 250 million yuan and long-term borrowings of 298 million yuan, with a total of 1.59 billion yuan in debt due by December 31, 2025 [6][7] - The repayment strategy includes plans to repay 56 million yuan on time and to extend or replace 1.03 billion yuan of debt [7] - The company is actively seeking financing solutions to ensure timely debt repayment and minimize the risk of asset disposals [7][8] Group 3: Construction Projects - The company reported a construction in progress balance of 446 million yuan as of December 31, 2024, primarily related to projects in Yingkou and Qiandao Lake, with the Yingkou project currently halted [8][9] - The Yingkou project has not met the conditions for capitalization and is at risk of significant impairment if funding issues persist [9][10] - The Qiandao Lake project may face further risks if land is auctioned, but it is currently not expected to have a major adverse impact on the company's financial statements [10] Group 4: Long-term Equity Investments - The company has long-term equity investments totaling 390 million yuan, with a significant portion related to the Zhenjiang Dabaijing project, which has incurred investment losses [12][13] - A settlement agreement with Chongqing Shunyu allows for a delay in the exit rights until December 31, 2025, which may mitigate immediate financial risks [12][13][14] - If the exit rights are exercised, there could be substantial impairment risks associated with the long-term equity investment in Zhenjiang Dabaijing [14] Group 5: Non-operating Income and Losses - The company reported a net profit of -70.18 million yuan for 2024, primarily due to increased non-operating losses, including contingent liabilities and other expenses [16][17] - Specific non-operating losses include 39.13 million yuan related to the Zhenjiang Dabaijing project and 28.74 million yuan from a lawsuit with Hainan Zhonghui [17][18] - The company has accounted for these losses based on legal judgments and agreements, ensuring that the provisions for expected liabilities are adequate [20][21] Group 6: Related Party Transactions - The company disclosed other receivables of 597,000 yuan from its controlling shareholder's subsidiary, which were necessary for operational continuity due to banking issues [24][25] - The transactions were conducted under a formal agreement to ensure proper management and accountability of funds [24][25][26]