banbao(SH:603398) Zheng Quan Zhi Xing·2025-07-16 16:08Core Viewpoint - The announcement details the judicial disposal of shares held by the controlling shareholder of Jiangxi Mubang High-Tech Co., Ltd. and the implications of this event on the company's operations and governance structure [1][10]. Group 1: Share Transfer Agreement - On January 5, 2024, the controlling shareholder Mubang New Energy Holdings signed a share transfer agreement with Tongling High-tech Qihang Equity Investment Partnership to transfer 5.2% of the company's shares, with a total value of less than 364 million yuan [2][4]. - The share transfer was intended to promote long-term cooperation between the parties involved, particularly in policy and resource alignment [2][3]. - The share transfer price is based on the average stock price over the twenty trading days prior to the agreement or the last trading day's closing price, whichever is higher [4]. Group 2: Payment and Pledge Arrangements - The payment schedule for the share transfer includes an initial payment of 50 million yuan within five working days of signing the contract, followed by additional payments contingent on project milestones [5][6]. - A total of 58 million shares were pledged as collateral for the share transfer, with specific conditions for the release of these shares [6][7]. Group 3: Judicial Execution and Impact - On May 27, 2025, Tongling High-tech Qihang applied for judicial enforcement to compel Mubang New Energy Holdings to fulfill its share transfer obligations [10]. - The enforcement process is a civil matter between the shareholders and does not directly affect the company's assets or operations, which remain stable [11]. - Following the completion of the share transfer, Mubang New Energy Holdings' shareholding will decrease to 16.08%, while Tongling High-tech Qihang will hold 4.11% of the shares, maintaining Mubang as the controlling shareholder [11][14]. Group 4: Governance and Control - The share transfer is not expected to change the company's control structure, as Mubang New Energy Holdings will remain the largest shareholder and maintain a consistent voting relationship with Tongling High-tech Qihang [15]. - The company’s governance structure and decision-making processes are expected to remain intact despite the changes in shareholding [12][18]. - The share transfer agreement did not involve any restrictions on share reduction at the time of signing, and the pledge arrangements were standard commercial practices for securing obligations [18][19].