ZPMC(SH:600320) Zheng Quan Zhi Xing·2025-07-22 12:13Core Viewpoint - Shanghai Zhenhua Heavy Industries (the company) plans to transfer its entire stake in China Communications Photovoltaic Technology Co., Ltd. to China Urban Holdings Group Co., Ltd. for a consideration of RMB 34.3824 million, marking a strategic move to focus on its core business and optimize resource allocation [1][2][16]. Summary by Sections Transaction Overview - The company intends to transfer its entire stake in China Communications Photovoltaic through a non-public agreement, with a transaction price of RMB 34.3824 million [1][2]. - After the transaction, the company will no longer hold any equity in China Communications Photovoltaic [1][2]. - The transaction is classified as a related party transaction but does not constitute a major asset restructuring [1][2]. Board Approval - The transaction was approved by the company's board on July 22, 2025, with related directors abstaining from voting [3][16]. - The transaction does not require approval from the shareholders' meeting [3][16]. Financial Details - The book value of the stake being sold is RMB 34.7657 million, indicating a loss of RMB 0.3833 million on the transaction [2][9]. - The transaction price is based on an asset valuation report, which assessed the equity value at RMB 103.624 million, resulting in a valuation increase of RMB 2.662 million, or 2.64% [9][12]. Buyer Information - The buyer, China Urban Holdings Group, is a state-controlled enterprise with a registered capital of RMB 744.3265 million and is not listed as a dishonest executor [4][5]. - The company has a strong financial standing, with total assets of RMB 11.381 billion and total liabilities of RMB 7.500 billion as of the latest audited financial data [5]. Impact on the Company - The transaction is expected to have no adverse effects on the company's financial status or operational results, as it aligns with the company's strategy to focus on its main business [16]. - There will be no changes in management or personnel as a result of this transaction [16]. Related Transactions - In the past 12 months, the company has not engaged in any other related transactions with the same party that exceeded RMB 30 million or 5% of the latest audited net assets [3][16].