WHMC(SH:600136) Shang Hai Zheng Quan Bao·2025-12-03 20:08Core Viewpoint - Wuhan Mingcheng Cultural Sports Group Co., Ltd. plans to increase the expected amount of daily related transactions for 2025 by no more than 160 million yuan, which requires approval from the shareholders' meeting [2][5]. Summary by Sections Daily Related Transactions Basic Situation - The independent directors held a special meeting on March 27, 2025, and approved the expected daily related transactions for 2025, deeming them reasonable and legal [3]. - The board of directors and the supervisory board also approved the expected daily related transactions on the same day, allowing sales to related parties up to 180 million yuan and purchases up to 60 million yuan [4]. Increase in Expected Amount of Daily Related Transactions - On December 3, 2025, the independent directors held a special meeting and approved the proposal to increase the expected amount of daily related transactions, which was deemed reasonable and legal [5]. - The board of directors and the supervisory board approved the increase, allowing sales to related parties up to 160 million yuan [5]. Purpose and Impact of Related Transactions - The increase in expected daily related transactions is due to the company's ongoing business expansion, which necessitates a higher transaction limit to cover future business opportunities [13]. - The company emphasizes that the new related transactions will adhere to fair market prices and will not affect the independence and integrity of the company's operations [13]. Related Party Information - The related parties include Hubei Industrial Construction Group Co., Ltd., Hubei Lian Investment Mining Co., Ltd., Hubei United Development Investment Group Co., Ltd., Hubei Qingneng Investment Development Group Co., Ltd., and Hubei Lian Investment Group Co., Ltd. [6][8][10][12]. - All related parties are described as having good operational conditions and the ability to fulfill transaction obligations [8][10][12]. Pricing Policy for Related Transactions - The company will conduct transactions with related parties based on open, fair, and just principles, with pricing determined through negotiation based on market prices and industry standards [12]. Audit Firm Reappointment - The company plans to reappoint Zhongshun Zhonghuan Certified Public Accountants as its auditing firm for the 2025 annual financial report and internal control audit, pending approval from the shareholders' meeting [55][64]. - The firm has a strong track record and meets the necessary qualifications for providing auditing services [55][64].