YBTI(SH:600883) Xin Lang Cai Jing·2025-09-05 10:27Core Viewpoint - Yunnan Bowen Technology Industrial Co., Ltd. has disclosed the latest progress regarding its investment in Yunnan Noduang Jintui Food Technology Co., Ltd., indicating that the investment process has faced challenges and delays [1][2]. Investment Progress - On December 15, 2022, Bowen Technology's board approved an investment of approximately 18.74 million yuan in Jintui Company, resulting in a 51% ownership stake, making it a subsidiary [1]. - The investment amount represents 1.92% of the company's audited net assets for the end of 2024 and 1.93% of the unaudited net assets for the mid-year of 2025 [1]. Current Challenges - As of August 25, 2023, the investment has not progressed as planned due to the failure of the partner company, Majin Qiao, to complete the second phase of capital contribution as per the original agreement [2]. - A supplementary agreement was signed, extending the deadline for the second phase of investment to August 30, 2025, but the conditions for Bowen Technology's second phase investment remain unmet [2]. Financial Status of Jintui Company - As of June 30, 2025, Jintui Company reported total assets of 19.21 million yuan, accounting for 1.85% of Bowen Technology's total assets, and net assets of 14.31 million yuan, representing 1.47% of Bowen Technology's attributable net assets [2]. - The company generated revenue of 2.03 million yuan, which is 7.08% of Bowen Technology's total revenue, but reported a net loss of 438,900 yuan, accounting for 3.06% of Bowen Technology's attributable net profit [2]. Risks and Uncertainties - The completion of the second phase of investment is subject to uncertainties related to property rights registration and potential changes in asset values, as well as external factors such as policy changes and market competition [3]. - Bowen Technology plans to assess risk factors and enhance communication with relevant parties to ensure compliance with agreements and protect shareholder interests [3].