焦作万方: 简式权益变动报告书（杭州曼联）

Core Viewpoint - The report outlines the equity change of Jiaozuo Wanfang Aluminum Industry Co., Ltd., indicating that Man United (Hangzhou) Enterprise Management Partnership (Limited Partnership) will increase its shareholding by subscribing to newly issued shares as part of an asset acquisition deal involving a 99.4375% stake in Cayman Aluminum (Sanmenxia) Co., Ltd. [1][2][3] Group 1: Equity Change Details - The equity change involves Man United acquiring a 6.6000% stake in Jiaozuo Wanfang through the subscription of newly issued shares [3][5]. - After the transaction, Man United will hold 393,428,571 shares, representing 5.53% of the total share capital of Jiaozuo Wanfang [6][12]. - The transaction is structured as a share issuance to purchase assets, with the total transaction value set at 3,194,926.88 million RMB [8][10]. Group 2: Purpose and Future Plans - The purpose of the equity change is to enhance Jiaozuo Wanfang's asset scale and sustainable profitability by acquiring high-quality assets in the aluminum industry, thereby forming a complete aluminum material industry chain [4][12]. - Man United has no plans to increase or decrease its shareholding in the next 12 months beyond this transaction [4][12]. Group 3: Transaction Structure and Valuation - The shares will be issued at a price of 5.39 RMB per share, adjusted from an initial price of 5.52 RMB due to a cash dividend distribution [6][11]. - The valuation of the target company, Cayman Aluminum, was determined using the income approach, with a total assessed value of 3,213,600.00 million RMB [7][8].