标的公司拥有佛山市顺德区容桂、北滘、乐从、龙江镇（街道）的生活垃圾中转站资产，并与佛山市顺 德区城市管理和综合执法局（简称"顺德区城管局"）签署《顺德区生活垃圾中转服务合同书》（简 称"《服务合同书》"），为容桂、北滘、乐从、龙江镇（街道）提供生活垃圾中转服务以收取服务费。 格隆汇12月5日丨顺控发展(003039.SZ)公布，公司拟与科工贸签署股权转让协议，按181,180,144.49元的 价格收购科工贸全资子公司洁净投资100%股权，本次股权转让价格参照标的公司股东全部权益在评估 基准日（2025年10月31日）的市场价值评估结果确定。由于交易对手科工贸为公司控股股东广东顺德控 股集团有限公司（简称"顺控集团"）的全资子公司，因此，本次交易构成关联交易。 ...

华电能源公告称，拟使用自有资金通过华电财务公司向控股子公司龙电电气提供不超2427.87万元委托 贷款，期限一年，利率为发放贷款时一年期LPR。该交易构成关联交易，不构成重大资产重组。公司持 股龙电电气85.71%。龙电电气2025年1 - 9月营收302.47万元、净利润16.76万元。该议案已通过董事会审 议，关联董事回避表决，尚需股东会审议。此次贷款后，公司委托贷款余额16167.5万元，占最近一期 经审计净资产4.35%，累计委托贷款逾期金额12800万元。 ...

标的公司拥有佛山市顺德区容桂、北滘、乐从、龙江镇（街道）的生活垃圾中转站资产，并与佛山市顺 德区城市管理和综合执法局（简称"顺德区城管局"）签署《顺德区生活垃圾中转服务合同书》（简 称"《服务合同书》"），为容桂、北滘、乐从、龙江镇（街道）提供生活垃圾中转服务以收取服务费。 格隆汇12月5日丨顺控发展(003039.SZ)公布，公司拟与科工贸签署股权转让协议，按181,180,144.49元的 价格收购科工贸全资子公司洁净投资100%股权，本次股权转让价格参照标的公司股东全部权益在评估 基准日（2025年10月31日）的市场价值评估结果确定。由于交易对手科工贸为公司控股股东广东顺德控 股集团有限公司（简称"顺控集团"）的全资子公司，因此，本次交易构成关联交易。 ...

华远控股公告称，其全资子公司华远智慧物业拟与控股股东华远集团全资子公司贯通经贸签订《专项服 务合同》，配合完成指定专项服务，如物资采购、人员培训等。合同首期款771.967355万元，15日内支 付，后续按月结算。华远集团持有公司47.39%股份，间接持有贯通经贸100%股权，本次交易构成关联 交易，不属重大资产重组。截至公告日，公司与华远集团及其控制企业新增关联交易累计199.88万元。 该交易已获董事会通过，无需股东会审议。 ...

Core Viewpoint - The company Bai'ao Saituo has successfully listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, leveraging its "Thousand Mice and Ten Thousand Antibodies" plan and RenMice human antibody platform, but faces multiple risks including reliance on cost-cutting for profitability, high proportion of related-party transactions, patent infringement lawsuits, and significant unremedied losses [1][4]. Group 1: Financial Performance and Cost Management - From 2022 to 2024, Bai'ao Saituo's operating revenue steadily increased, with net profit turning from a loss of 602 million yuan to a profit of 33.54 million yuan, and achieving a net profit of 114 million yuan in the first three quarters of this year [6]. - However, R&D expenses significantly decreased from 699 million yuan to 324 million yuan, and the total number of R&D personnel dropped from 627 to 337, with dedicated R&D staff reduced from 58 to 5 [6]. - The revenue growth of 446 million yuan during the same period contrasts with a decline in R&D expenses of 375 million yuan, raising concerns about whether profitability improvements stem from cost-cutting rather than genuine business growth [6]. Group 2: Related-Party Transactions and Patent Litigation - The antibody development business, a key growth area for Bai'ao Saituo, has a compound annual growth rate of 58.26% from 2022 to 2024, with a gross margin exceeding 80% [7]. - Nearly 30% of the revenue in this segment comes from related parties, specifically from joint ventures such as Doma Pharmaceutical and its subsidiary, contributing a total of 170 million yuan, which accounts for 27.43% of total antibody development revenue [7]. - The core technology platform RenMice faces intellectual property risks, as a lawsuit was filed by He Bo Pharmaceutical in September 2024, alleging patent infringement, which could undermine market confidence in the company's technological independence [7]. Group 3: Unremedied Losses and Debt Concerns - As of the end of 2024, Bai'ao Saituo has accumulated unremedied losses of 1.754 billion yuan, with the company acknowledging the risk of returning to losses if R&D investments remain high or revenue growth does not meet expectations [8]. - The controlling shareholders, Shen Yuele and his wife, face significant debt obligations, needing to repay approximately 129 million yuan from 2025 to 2028, primarily relying on the liquidation of their H-shares in the company [8]. - The total compensation for the company's directors, supervisors, and key technical personnel from 2022 to 2024 reached 61.6072 million yuan, maintaining a high level despite the company's losses, which has raised inquiries from the stock exchange [8].

中来股份公告，公司全资子公司江苏中来新材科技有限公司拟与常熟中坚金属工业有限公司签订光伏钢 边框采购框架合同，合同金额最高不超过4570.36万元。常熟中坚为公司副董事长、总经理林建伟先生 间接控制的企业，构成关联交易。关联交易金额约占公司最近一期经审计净资产的1.36%，无需提交股 东会审议。此次交易不会对公司财务状况和经营成果造成重大不利影响，也不会影响公司独立性。 ...

海新能科公告称，公司控股子公司山东三聚拟向建设银行申请不超8000万元融资业务（流动资金贷款 1000万元、低风险业务7000万元），期限不超1年。公司及间接控股股东海国投集团拟分别对1000万元 流动资金贷款提供担保，山东三聚按0.5%支付担保费，分别不超5万元。海国投集团通过子公司间接持 股37.22%，本次支付担保费构成关联交易。2025年初至披露日，公司与海国投集团关联交易总额 4306.83万元。 ...

凯尔达公告称，公司全资子公司凯尔达人形机器人的控股子公司凯维力传感自然人股东杨晓，拟将其持 有的5%股权以256.41万元转让给控股股东凯尔达集团，凯尔达人形机器人放弃优先购买权。本次交易 构成关联交易，但不构成重大资产重组。此前，王仕凯、杨晓已合计投资512.82万元认购凯维力传感新 增注册资本，增资后凯尔达人形机器人持股降至58.5%。本次转让后，公司仍持有凯维力传感58.5%股 份，合并报表范围不变。该交易已通过相关会议审议。 ...

证券代码：601158 证券简称：重庆水务公告编号：临2025-087 债券代码：188048 债券简称：21渝水01 债券代码：242471 债券简称：25渝水01 债券代码：242472 债券简称：25渝水02 债券代码：113070 债券简称：渝水转债 重庆水务集团股份有限公司 表决结果：6票同意，0票反对，0票弃权。 本关联交易议案在审议表决时，关联董事郑如彬先生已回避。 同意公司所属公司重庆市三峡水务有限责任公司龙兴分公司、重庆市豪洋水务建设管理有限公司分别收 购重庆水务环境控股集团有限公司建设的复盛污水处理厂二期扩建工程、武隆污水处理厂二期扩建工 程、万盛南桐污水处理厂二期扩建及提标改造工程的资产以及与其相关的债权债务。本次交易定价以对 交易标的进行评估所确定的价值为基础确定，即资产评估值为262,676,162.41元，负债评估值为 7,867,343.07元，净资产评估值为254,808,819.34元。本次交易根据资产评估结果确定交易价格为 254,808,819.34元。 本议案在提交董事会审议前已经公司独立董事专门会议审议通过。 第六届董事会第二十一次会议决议 公 告 本公司董事会及全体 ...

Group 1 - The company approved a proposal for its wholly-owned subsidiary, LiuGong Machinery Hong Kong Co., Ltd., to issue preferred shares to the China-Africa Development Fund, with a total transaction amount not exceeding $100 million (approximately 710 million RMB) [20][24][25] - The preferred shares will have a par value of $5,000,000 each, with an initial dividend rate of 4.70%, which will increase by 2.20% after five years [20][25] - The company will provide a joint guarantee for LiuGong Hong Kong's payment obligations under the agreements, with a maximum guarantee amount of $154.62 million (approximately 1.098 billion RMB) [20][21][29] Group 2 - The company estimated its daily related party transaction amount for 2026 to be 2.34 billion RMB, which represents 13.32% of the company's latest audited net assets of 17.569 billion RMB [6][37] - The estimated related party transactions include 1.688 billion RMB for purchasing machinery products and services from related parties and 652 million RMB for selling products and services to related parties [6][37] - The proposal for the estimated related party transactions will also be submitted for shareholder approval [6][37]