关联交易

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福然德: 福然德股份有限公司关联交易决策制度(2025年8月修订)
Zheng Quan Zhi Xing· 2025-08-25 16:13
福然德股份有限公司 关联交易决策制度 第一章 总则 第一条 为进一步规范福然德股份有限公司(以下简称"公司")的关联交易 行为,提高公司规范运作水平,保证关联交易的公允性,切实保护投资者的合法 权益,根据《中华人民共和国公司法》 《中华人民共和国证券法》 《上海证券交易 所股票上市规则》《上海证券交易所上市公司自律监管指引第 5 号--交易与关联 交易》等法律法规、部门规章、规范性文件、业务规则以及《福然德股份有限公 司章程》(以下简称"《公司章程》")的相关规定,制定本制度。 第二条 公司关联交易应当遵循公开、公平、公正和诚实信用的原则,不得 损害公司、全体股东特别是中小股东的合法权益。 第三条 公司关联交易行为应当定价公允、审议程序合法合规、信息披露规 范。 第四条 公司董事会下设审计委员会履行公司关联交易控制和日常管理的职 责。 第二章 关联人和关联关系的认定 第五条 公司的关联人包括关联法人(或者其他组织)和关联自然人。 第六条 具有以下情形之一的法人(或者其他组织),为公司的关联法人(或 者其他组织): (一)直接或者间接控制公司的法人(或者其他组织); (二)由前项所述法人(或者其他组织)直接或者 ...
IPO前送豪礼 空降总经理获3.6亿“入职礼包”
Zhong Guo Ji Jin Bao· 2025-08-25 16:00
Core Viewpoint - The article discusses the IPO application of Xinqiang Electronics, highlighting concerns over its financial practices, including significant cash dividends and stock incentives, as well as complex related-party transactions that may pose risks to investors [1][2][3]. Financial Practices - Xinqiang Electronics distributed a cash dividend of 181 million yuan before its IPO, which is over 80% of its net profit for the past two years [1][4]. - The company provided a stock incentive worth approximately 420 million yuan to its newly appointed general manager, resulting in a substantial financial "gift" upon joining [4][5]. - The company has not accounted for the difference between the stock incentive price and its fair value, which could lead to a significant reduction in net profit in the future [2][3]. Related-Party Transactions - Xinqiang Electronics has a high dependency on related-party sales, with significant amounts sold to joint ventures, raising concerns about profit margins and operational independence [6][8]. - The company reported related-party sales of 61.65 million yuan, 56.86 million yuan, and 125 million yuan from 2022 to 2024, which accounted for 20.35%, 5.69%, and 12.5% of total sales, respectively [6][8]. - The profit margins from related-party sales are significantly higher than those from the company's own sales, indicating potential risks in its business model [6][8]. Management and Control - The actual control of Xinqiang Electronics lies with the Yu family, who hold over 95% of the shares, creating a concentrated ownership structure [2]. - The new general manager, Chen Defu, is not a core technical figure in the PCB industry, raising questions about the effectiveness of the management change [5]. Market Position and Risks - Xinqiang Electronics faces challenges in maintaining growth due to reliance on joint ventures and a narrow product structure, particularly in the storage PCB segment [8][9]. - The company's revenue growth has stagnated, with a reported decline of 0.13% in 2024, contrasting with the double-digit growth of its peers [10].
IPO前送豪礼,空降总经理获3.6亿“入职礼包”
Sou Hu Cai Jing· 2025-08-25 15:51
Core Viewpoint - The article discusses the IPO of Xinqiang Electronics, highlighting significant cash dividends and stock incentives given to management, raising concerns about potential risks related to related-party transactions and the company's operational independence [1][3][9]. Group 1: IPO and Financial Maneuvers - Xinqiang Electronics has received approval for its IPO, with the Yu family holding over 95% of the shares [1][3]. - Prior to the IPO, the company distributed a cash dividend of 181 million yuan, which is over 80% of its net profit for the past two years [1][6]. - The newly appointed general manager received stock incentives valued at approximately 420 million yuan, raising questions about the justification of such high compensation [1][7]. Group 2: Related-Party Transactions - The company has complex related-party transactions, with significant sales to joint ventures, which may pose risks to its operational independence [9][12]. - From 2022 to 2024, Xinqiang Electronics reported related sales to joint ventures totaling 61.65 million yuan, 56.86 million yuan, and 125 million yuan, representing 20.35%, 5.69%, and 12.5% of total sales respectively [9][12]. - The reliance on joint ventures for sales raises concerns about profit margins, as the joint ventures reportedly achieve higher gross margins compared to Xinqiang Electronics [9][10]. Group 3: Business Model and Growth Concerns - The company's business model heavily depends on joint ventures, which may limit its growth potential and lead to a cycle of underperformance [12][14]. - Xinqiang Electronics has faced stagnant revenue growth, with a projected decline of 0.13% in 2024, contrasting with the double-digit growth of its peers [14]. - The concentration of sales in the storage sector and reliance on Taiwanese customers pose additional risks to the company's revenue stability [13][14].
金自天正:拟转让大慧私募5.00%股权及放弃其优先购买权
Ge Long Hui· 2025-08-25 14:35
钢研投资、安泰科技股份有限公司(以下简称「安泰科技」)、北京钢研高纳科技股份有限公司(以下 简称「钢研高纳」)和新冶高科技集团有限公司(以下简称「新冶集团」)分别持有大慧私募 80.00%、6.67%、5.00%和3.33%股权。安泰科技拟向中国钢研科技集团有限公司(以下简称「中国钢 研」)转让大慧私募6.67%股权;钢研高纳拟向中钢研(河北)科技有限公司(以下简称「中钢研河 北」)转让其持有的大慧私募5.00%股权;新冶集团拟向中国钢研转让其持有的大慧私募3.33%股权。 结合公司整体战略规划及实际经营情况,公司拟放弃上述转让股权的优先购买权。 根据《上海证券交易所股票上市规则》和《公司章程》等有关规定,本次股权转让及放弃优先购买权事 项受让方中的中国钢研为公司实际控制人,转让方钢研高纳、安泰科技、新冶集团和受让方中的中钢研 河北、钢研投资均受中国钢研控制,为公司的关联法人。因此公司本次转让参股公司股权并放弃优先购 买权事项属于关联交易。 格隆汇8月25日丨金自天正(600560.SH)公布,为进一步聚焦核心业务,专注提升主业竞争力,公司拟向 钢研投资有限公司(以下简称「钢研投资」)转让公司持有的参股公司钢 ...
金自天正(600560.SH):拟转让大慧私募5.00%股权及放弃其优先购买权
Ge Long Hui A P P· 2025-08-25 13:52
钢研投资、安泰科技股份有限公司(以下简称"安泰科技")、北京钢研高纳科技股份有限公司(以下简 称"钢研高纳")和新冶高科技集团有限公司(以下简称"新冶集团")分别持有大慧私募80.00%、 6.67%、5.00%和3.33%股权。安泰科技拟向中国钢研科技集团有限公司(以下简称"中国钢研")转让大 慧私募6.67%股权;钢研高纳拟向中钢研(河北)科技有限公司(以下简称"中钢研河北")转让其持有 的大慧私募5.00%股权;新冶集团拟向中国钢研转让其持有的大慧私募3.33%股权。结合公司整体战略 规划及实际经营情况,公司拟放弃上述转让股权的优先购买权。 根据《上海证券交易所股票上市规则》和《公司章程》等有关规定,本次股权转让及放弃优先购买权事 项受让方中的中国钢研为公司实际控制人,转让方钢研高纳、安泰科技、新冶集团和受让方中的中钢研 河北、钢研投资均受中国钢研控制,为公司的关联法人。因此公司本次转让参股公司股权并放弃优先购 买权事项属于关联交易。 格隆汇8月25日丨金自天正(维权)(600560.SH)公布,为进一步聚焦核心业务,专注提升主业竞争力, 公司拟向钢研投资有限公司(以下简称"钢研投资")转让公司持有的参 ...
招商局能源运输股份有限公司 关于子公司对外投资暨关联交易进展的公告
Zheng Quan Shi Bao· 2025-08-24 19:30
Core Viewpoint - The company, China Merchants Energy Transportation Co., Ltd., has approved a proposal for its wholly-owned subsidiary, Sinotrans Container Transportation Co., Ltd., to acquire shares of Antong Holdings Co., Ltd. for a maximum of 1.8 billion RMB [1] Group 1: Investment Details - Sinotrans Container Transportation plans to acquire a total of 333,742,322 shares of Antong Holdings, representing 7.89% of its total share capital [2] - The acquisition includes shares purchased through block trading and agreements with various asset management companies, including 33,333,334 shares from China Orient Asset Management and 82,908,988 shares from Sinochem Asset Management [2] - The completion of the share transfer agreements is subject to approval from the State-owned Assets Supervision and Administration Commission and compliance confirmation from the Shanghai Stock Exchange [2] Group 2: Future Plans - Sinotrans Container Transportation intends to increase its stake in Antong Holdings by investing between 360 million RMB and 720 million RMB within 12 months, with a maximum purchase price of 3.20 RMB per share [3] - As of the announcement date, the company has already acquired 50,876,231 shares, amounting to approximately 159 million RMB [3] - Due to the current share price exceeding the set limit, the company will adjust its strategy based on market conditions as authorized by the board [3]
开普云: 第三届董事会第二十六次临时会议决议公告
Zheng Quan Zhi Xing· 2025-08-24 16:16
Core Viewpoint - The company plans to acquire 70% of the equity of Nanning Taike Semiconductor Co., Ltd. from Shenzhen Jintaike Semiconductor Co., Ltd. through cash payment, which is expected to constitute a major asset restructuring [1][2][3]. Group 1: Major Asset Purchase - The company intends to purchase 70% of the equity of Nanning Taike from Jintaike, with the operational assets of Jintaike's storage products business being transferred to Nanning Taike [1][2][3]. - The final transaction price will be determined based on an evaluation report from a qualified asset appraisal agency, and the transaction is expected to be a major asset restructuring [2][3][4]. Group 2: Issuance of Shares - The company plans to issue shares to acquire an additional 30% of Nanning Taike's equity and raise matching funds, contingent upon the completion of the cash acquisition of the 70% stake [4][5]. - The issuance of shares will be priced at no less than 80% of the average trading price of the company's shares over the 20 trading days prior to the pricing date [7][11]. Group 3: Related Transactions - The acquisition of the 70% stake constitutes a related transaction, as the controlling shareholder and related parties will transfer shares to a new entity that will hold over 5% of the company's shares post-transaction [15][16]. - The company has conducted a thorough self-examination and believes the transaction complies with relevant laws and regulations [5][16]. Group 4: Approval and Voting Results - The board of directors approved the major asset purchase and share issuance with a voting result of 6 votes in favor, 0 against, and 2 abstentions [2][5][14]. - The resolutions are valid for 12 months from the date of submission to the shareholders' meeting for approval [3][10][12].
可靠股份: 董事会决议公告
Zheng Quan Zhi Xing· 2025-08-24 16:16
Group 1 - The board meeting of Hangzhou Reliable Nursing Products Co., Ltd. was held on August 21, 2025, with all 7 directors present, and the meeting complied with legal and regulatory requirements [1] - The financial report for the first half of 2025 was approved by the board's audit committee with a voting result of 6 in favor and 1 against [2] - The company appointed Mr. Wang Xiangting as the deputy general manager and board secretary, with the term lasting until the end of the current board's term [2][3] Group 2 - Independent director Mr. Jing Naiquan abstained from voting on the appointment of Mr. Wang, citing the need for more attention to detail and professionalism [3][4] - Director Ms. Bao Jia voted against the half-year report, raising concerns about a significant related party transaction that exceeded regulatory thresholds [5][10] - The company clarified that the related party transactions had been previously approved by the board and reported to regulatory authorities [13][18] Group 3 - The company emphasized that the appointment of Mr. Wang met all legal qualifications and was supported by a thorough background check [4][12] - Ms. Bao expressed concerns about Mr. Wang's lack of recent experience in securities affairs and questioned his professional capabilities [11][19] - The company defended its governance practices, stating that all high-level changes followed proper procedures and aimed to enhance operational efficiency [17][19]
开普云: 第三届监事会第二十三次临时会议决议公告
Zheng Quan Zhi Xing· 2025-08-24 16:13
Core Viewpoint - The company is planning a significant asset acquisition involving the purchase of a 70% stake in Nanning Taike Semiconductor Co., Ltd. from Shenzhen Jintaike Semiconductor Co., Ltd. through cash payment, which is expected to constitute a major asset restructuring [1][2][3]. Group 1: Meeting Details - The third session of the Supervisory Board's 23rd temporary meeting was held on August 22, 2025, with all three supervisors present, and the meeting was deemed legal and effective [1]. - The meeting's resolutions were passed unanimously with 3 votes in favor, 0 against, and 0 abstentions [2][3]. Group 2: Asset Acquisition Proposal - The company intends to acquire 70% of Nanning Taike's equity by paying cash, with the operational assets of the storage product business being transferred to Nanning Taike [2][3]. - The final transaction price will be based on an evaluation report from a qualified asset appraisal agency, and the transaction is expected to be a major asset restructuring [2][3]. Group 3: Share Issuance and Fundraising - The company plans to issue shares to acquire an additional 30% stake in Nanning Taike and raise matching funds, contingent upon the completion of the cash acquisition of the 70% stake [3][4]. - The total amount of funds raised will not exceed 100% of the transaction price for the share issuance [5][10]. Group 4: Regulatory Compliance - The Supervisory Board confirmed that the proposed transactions comply with relevant laws and regulations, including the Company Law and the Major Asset Restructuring Management Measures [2][4][14]. - The transactions are classified as related party transactions due to the shareholding changes post-acquisition [13][14]. Group 5: Stock Issuance Details - The share issuance price is set at 52.64 yuan per share, not lower than 80% of the average trading price over the previous 20 trading days [6][10]. - The shares issued for fundraising will be subject to a lock-up period of 6 to 36 months, depending on the duration of the asset holding prior to subscription [8][11]. Group 6: Future Steps and Conditions - The resolutions are valid for 12 months from the date of submission to the shareholders' meeting for approval [3][12]. - The company will hold a shareholders' meeting to approve the final transaction price and the number of shares to be issued after the asset evaluation is completed [10][12].
中钢天源: 第八届董事会独立董事2025年第二次专门会议决议
Zheng Quan Zhi Xing· 2025-08-24 16:13
中钢天源股份有限公司 第八届董事会独立董事 2025 年第二次专门会议决议 根据《上市公司独立董事管理办法》、《深圳证券交易所股票上市规则》、 《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》等 相关法律法规及规范性文件的有关规定,中钢天源股份有限公司(以下简称"公 司")于 2025 年 8 月 21 日以现场方式召开第八届董事会独立董事 2025 年第二 次专门会议。本次会议由公司过半数独立董事共同推举独立董事林钟高召集并主 持。应出席独立董事 3 人,实际出席独立董事 3 人。 经独立董事认真研究,形成以下决议: 一、审议通过《关于对宝武集团财务有限责任公司的风险评估报告》 (以上无正文) (本页无正文,为中钢天源股份有限公司第八届董事会独立董事 2025 年第二次 专门会议决议签字页) 林钟高 乔利杰 刘先松 _______________ ________________ ________________ 我们对该事项涉及的相关材料进行了充分的审查,听取了有关人员对上述情 况的介绍,我们认为公司风险评估报告真实客观,进行本次关联交易符合相关法 律、法规及公司章程规定,不存在损 ...