Core Viewpoint - The report highlights the financial distress faced by Suzhou Hanchuan Intelligent Technology Co., Ltd. due to the pledge of shares by its actual controller and the potential risks associated with the inability to repay debts [1][4]. Basic Situation - The actual controller signed a contract with Huaneng Guicheng Trust for a financing amount of 220 million RMB, with a term of 12 months from July 2023 to July 2024 [1]. - The contract involves three collateral measures: the actual controller pledging 52.43% of Hanchuan Investment's shares, Hanchuan Investment pledging 13,134,329 shares of Hanchuan Intelligent (26.74% of its holdings, 7.47% of total shares), and a guarantee provided by another shareholder [1][2]. Progress Situation - Due to the actual controller's failure to repay principal and interest, Huaneng Guicheng Trust has filed for enforcement in court, with the enforcement amount being 222,697,648 RMB [2][3]. - The actual controller and related parties have been listed as defendants in the enforcement case [2]. Risks to Control Stability - The actual controller directly holds 0.48% of the company's shares and indirectly holds 17.6892% through Hanchuan Investment and related parties, totaling 18.1692% [3]. - The pledged shares represent 14.64% of the total shares, which is 80.58% of the actual controller's total holdings [3]. - If the debt issues are not resolved, the pledged shares may be subject to forced execution or freezing [3][4]. Sponsor's Review Opinion - The sponsor expresses concern over the potential instability of control and the risk of a change in actual controller due to the enforcement actions taken by Huaneng Guicheng Trust [4]. - Continuous monitoring of the situation and urging the company to fulfill its disclosure obligations is recommended [4].
瀚川智能: 国泰海通证券股份有限公司关于瀚川智能实际控制人持有的控股股东股权质押及控股股东部分股票质押进展的核查意见