Shang Hai Zheng Quan Bao·2025-11-19 18:46Core Viewpoint - Shanghai Bailian Group Co., Ltd. is transferring 100% equity of Yangpu Century Bailian from its subsidiary Century Bailian to Dongran Industrial for a price of RMB 78.286 million, followed by a management service agreement between the two parties [2][4]. Summary by Sections Transaction Overview - The transaction involves the transfer of 100% equity of Yangpu Century Bailian for RMB 78.286 million, with a management service agreement to be established post-transfer [2][4]. - The transaction is classified as a related party transaction as Dongran Industrial is a wholly-owned subsidiary of Bailian Group, the controlling shareholder of the company [2][4]. Transaction Details - The transfer price is based on the net asset evaluation of Yangpu Century Bailian, which was assessed at RMB 78.286 million, reflecting a 32.6% increase in value from its book value of RMB 59.041 million [9]. - The management agreement will last for three years, during which Century Bailian will provide operational management services to Yangpu Century Bailian [10][11]. Financial Impact - The transaction is expected to promote the sustainable development of the company and enhance its focus on core businesses in Shanghai and Zhejiang [12]. - The company will not provide guarantees or financial support to Yangpu Century Bailian post-transaction [12]. Approval Process - The transaction requires approval from the shareholders' meeting of Century Bailian but does not require approval from the company's shareholders' meeting [4][6]. - The board of directors has already reviewed and approved the transaction in multiple meetings, with related directors abstaining from voting [5][12].