HAC(SH:600202) Shang Hai Zheng Quan Bao·2025-10-13 20:06Core Viewpoint - Harbin Air Conditioning Co., Ltd. plans to terminate the "Joint Action Agreement" with its controlling shareholder, Harbin Industrial Investment Group Co., Ltd., due to changes in operational strategies and management needs, while still retaining significant shareholdings in Harbin Fushan Chuan Biotechnology Development Co., Ltd. [2][5][15] Group 1: Termination of Joint Action Agreement - The termination of the "Joint Action Agreement" allows Harbin Air Conditioning to focus on its core business and optimize resource allocation [5][15] - After the termination, Harbin Air Conditioning will hold 40.00% of Fushan Chuan, while Harbin Industrial Investment Group will hold 35.00%, and Japan's Aiwandi will hold 25.00% [2][15] - The decision to terminate the agreement was made after friendly negotiations and is classified as a related party transaction, requiring shareholder approval [2][5] Group 2: Financial and Operational Context - Harbin Air Conditioning and its controlling shareholder previously invested a total of RMB 5,000,000 in Fushan Chuan, with Harbin Air Conditioning contributing RMB 2,681.25 million [3][4] - Fushan Chuan reported a net loss of RMB 1,609.63 million for 2024, which is 218.83% of Harbin Air Conditioning's previous year's net profit [24][29] - The termination of the agreement is expected to facilitate the sale of Harbin Air Conditioning's 40% stake in Fushan Chuan, enhancing operational efficiency and reducing management costs [5][15] Group 3: Financing Activities - Harbin Air Conditioning plans to apply for a total of RMB 12,000 million in loans from various financial institutions to support its operational needs and project implementations [17][20] - The financing activities have been approved by the board and do not require further shareholder approval [18][19]