普邦股份子公司银行账户被冻结超6.6亿元，仍有三大疑问待解

Core Viewpoint - The announcement from Pubang Co., Ltd. regarding the freezing of funds in its subsidiary Jinbang Construction Co., Ltd. raises significant concerns about financial management and the implications of unpaid service fees from a municipal partner [1][5][6]. Group 1: Financial Situation - Jinbang Construction's bank accounts have been frozen with a total amount of 664 million yuan, which represents 27.13% of the company's latest audited net assets attributable to shareholders [1][4]. - The frozen funds exceed the actual debt of 221 million yuan owed to banks, leading to questions about the rationale behind the amount frozen [3][4]. - The company has reported that the freezing of funds is due to a financial loan dispute, with the court supporting the bank's claim for repayment [3][4]. Group 2: Service Fee Issues - Since the project entered its operational phase in 2023, the municipal partner has failed to fulfill its obligation to pay service fees, resulting in Jinbang Construction facing a cash shortfall [1][5]. - The total unpaid service fees owed by the municipal partner amount to approximately 94.6 million yuan, which is significantly less than the frozen amount [5][6]. - Despite the cash shortfall attributed to unpaid service fees, the company has a substantial amount of frozen funds, raising questions about the consistency of its financial claims [6][7]. Group 3: Project Termination and Fund Management - Pubang Co., Ltd. announced the early termination of the PPP project in May 2023, yet Jinbang Construction's accounts still show over 600 million yuan in deposits [1][7]. - The majority of Pubang's cash reserves are held in the parent company's accounts, indicating that the funds in Jinbang's accounts may not be essential for its operational activities [7]. - The presence of significant amounts in Jinbang's accounts post-termination of the project raises further inquiries into the management of funds and the financial strategy of the company [7][8].