FENGYUAN(SZ:002805) Mei Ri Jing Ji Xin Wen·2025-09-29 15:24Core Viewpoint - The company, Fengyuan Co., announced the acquisition of a 3.32% minority stake in its subsidiary, Anhui Fengyuan Lithium Energy Technology Co., for 30 million yuan, increasing its ownership from 71.44% to 74.76%, despite the subsidiary's ongoing financial losses [2][3][4]. Group 1: Transaction Details - The acquisition involves Fengyuan Lithium Energy and Anhui Jintong, with the latter transferring its 3.32% stake for 30 million yuan [3]. - Prior to the transaction, the ownership structure of Anhui Fengyuan was Fengyuan Lithium Energy at 71.44%, Anhui Jintong at 15.01%, and Anqing Wanjing High-tech Investment Development Co., Ltd. at 13.56% [3]. - The transaction is classified as a related party transaction due to Anhui Jintong's previous ownership of over 5% of Fengyuan Co. [3][4]. Group 2: Financial Performance - Anhui Fengyuan reported a net loss of over 116 million yuan for the full year of 2024 and a loss of 75.76 million yuan in the first half of 2025, indicating a worsening financial situation [2][7]. - The company's revenue for 2024 was 353 million yuan, while the first half of 2025 saw revenue of 236 million yuan, with losses in the first half exceeding 60% of the previous year's total loss [7]. - Fengyuan Co. itself is also experiencing financial difficulties, with a net loss of 362 million yuan in 2024 and 243 million yuan in the first half of 2025 [7]. Group 3: Valuation and Assessment - The acquisition was based on an asset valuation report that assessed Anhui Fengyuan's total equity value at 903 million yuan, with a premium rate of 3.06% [6]. - The pricing of the transaction was approved by the company's independent directors, who deemed it fair and reasonable, ensuring no harm to the interests of the company or its minority shareholders [6].