Zheng Quan Zhi Xing·2025-08-27 16:40Core Viewpoint - The company plans to acquire 100% equity of Taiziwan Real Estate from China Merchants Shekou for 715.518 million RMB to obtain the entire ownership of the China Merchants Jiyu Building as self-use office property [1][2][3] Transaction Overview - The transaction price is based on an asset appraisal report by Guozhonglian, with the assessed value of the property being 715.518 million RMB as of December 31, 2024 [1][2][10] - The transaction constitutes a related party transaction as both the company and China Merchants Shekou are controlled by China Merchants Group [1][2][3] Financial Details - Taiziwan Real Estate has a net debt of approximately 200 million RMB as of the announcement date [2] - The assessed value of Taiziwan Real Estate shows an increase of 57.95011 million RMB compared to its book value, resulting in an appreciation rate of 426.05% [10][12] Property Details - The core asset involved in the transaction is the China Merchants Jiyu Building, located in Nanshan District, with a total area of 33,120.26 square meters [5][8] - The property has a land use period of 50 years, starting from August 8, 2016 [5] Assessment Methodology - The valuation was conducted using both the income approach and the asset-based approach, with the asset-based approach being deemed more suitable for this transaction [9][12] - The asset-based approach yielded a valuation of 715.518 million RMB, while the income approach yielded a lower valuation of 566.8114 million RMB [10][12] Purpose and Necessity of the Transaction - The acquisition aims to address the company's office space needs due to rapid growth, with employee numbers expected to reach 500 in the near future [15][16] - The company seeks to centralize its office operations to enhance efficiency and improve its corporate image [15][16] Approval Process - The transaction requires approval from the shareholders' meeting, with related parties abstaining from voting [17][18] - The board of directors has already reviewed and approved the transaction, with independent directors supporting the decision [17][18]