Zheng Quan Zhi Xing·2025-07-15 16:09Core Viewpoint - The company, China Shipbuilding (Handan) Pairui Special Gas Co., Ltd., is set to receive state capital budget funds through a loan from its controlling shareholder, Pairui Technology, which constitutes a related party transaction but does not qualify as a major asset restructuring under relevant regulations [1][2]. Summary by Sections Related Party Transaction Overview - China Shipbuilding Group Co., Ltd. will allocate CNY 400 million (40,000 million) in state capital to Pairui Technology, which will then provide this amount as a entrusted loan to the company [2]. - The loan will be converted into equity investment when conditions permit, as the company currently lacks the conditions for direct capital injection [2]. Basic Information of Related Parties - Pairui Technology holds 69.17% of the company's shares and has a registered capital of CNY 408.9179 million [2][3]. - As of December 31, 2024, Pairui Technology reported total assets of CNY 1.669 billion, net assets of CNY 1.197 billion, revenue of CNY 1.07 billion, and net profit of CNY 227 million [6]. - China Shipbuilding Finance Co., Ltd. has total assets of CNY 265.102 billion and net profit of CNY 1.461 billion for the same period [7]. Pricing of Related Party Transaction - The loan interest rate is set at 0.5% per annum, based on mutual agreement and in line with the benchmark rates published by the People's Bank of China, ensuring a reasonable price that does not harm the interests of the company and its shareholders [7]. Necessity and Impact of Related Party Transaction - The transaction is deemed necessary for the implementation of major technological projects, enhancing the company's international competitiveness and supporting the stability of the integrated circuit supply chain [8]. - It is confirmed that this transaction does not involve the controlling shareholder misappropriating company funds and will not adversely affect the company's independence or financial performance [8]. Review Procedures for Related Party Transaction - The transaction has been approved by the company's board of directors and supervisory board, with related directors abstaining from voting. It will also require approval from the shareholders' meeting [8]. Sponsor's Verification Opinion - The sponsor, CITIC Securities, has no objections to the transaction, affirming that it complies with relevant laws and regulations and will not negatively impact the company's operations or financial status [9].