丽尚国潮: 丽尚国潮关于参股公司业绩补偿的进展公告

Core Viewpoint - The company is facing challenges in the performance compensation obligations of its associate company, Lishang Meichain, due to liquidity issues faced by the performance commitment parties, leading to a conditional waiver agreement to mitigate risks and protect shareholder interests [1][2][8] Performance Compensation Commitment Overview - In September 2022, the company approved a cash increase of RMB 10.2 million to Lishang Meichain, with the performance commitment parties also contributing RMB 9.8 million, raising Lishang Meichain's registered capital from RMB 5 million to RMB 25 million [2][3] - The performance targets for 2023 were set at an audited revenue of RMB 880 million and a net profit of RMB 17 million, with a cash compensation obligation for any shortfall [3] Progress on Performance Compensation - As of 2023, Lishang Meichain achieved a net profit of RMB 508,400, resulting in a shortfall of RMB 16.49 million, prompting multiple reminders for performance compensation [3] - The company has signed a conditional waiver agreement to reduce risk exposure, allowing for a flexible approach to lowering the risk exposure amount through various means, including reducing guarantees and early loan repayments [5][6] Waiver Conditions and Measures - The waiver agreement stipulates that if the performance commitment parties meet specific risk reduction targets by set deadlines, they may be exempted from certain compensation obligations [6] - If the performance commitment parties fail to meet the agreed targets, the company retains the right to unilaterally terminate the waiver agreement [6] Impact on the Company - The company has not recognized the performance compensation in its financial statements for 2023 and 2024 due to uncertainties regarding the commitment parties' ability to fulfill their obligations [7] - Lishang Meichain is no longer included in the company's consolidated financial statements, leaving a remaining risk exposure of RMB 44 million, which the company aims to mitigate through the conditional waiver [7][8]