Transaction Overview - The company plans to sell up to 4.5 million shares of Liaoning Aoke Chemical Co., Ltd. to maximize shareholder value and optimize asset structure [1][2] - The board of directors has authorized the management to determine the timing, method, quantity, and price of the sale within a 12-month period [1][6] Target Asset Information - The target asset is the company's holding in Aoke shares, which is clear of any encumbrances or legal disputes [2][3] - As of March 31, 2025, the company holds 32,267,200 shares of Aoke, representing 4.74% of its total share capital [6] Financial Data of Aoke - As of December 31, 2024, Aoke's total assets were approximately 5.73 billion yuan, with net assets of about 2.76 billion yuan [5] - For the first quarter of 2025, Aoke reported a revenue of approximately 943 million yuan and a net profit attributable to shareholders of about -3.28 million yuan [5] Purpose and Impact of the Sale - The sale aims to enhance asset operational efficiency and promote sustainable development while maximizing shareholder value [6] - The actual impact on the company's financials will depend on the number of shares sold and the sale price, with accounting treatment to follow relevant standards [6]

Core Viewpoint - Silver Treasure New is undergoing a series of asset sales to alleviate its severe financial crisis, with a high debt ratio and declining profitability indicating a potential technical bankruptcy [1][2][3][4]. Financial Performance - As of March 2025, the total assets of Silver Treasure New are 3.523 billion yuan, with net assets of only 218 million yuan, a decrease of 20.17% compared to the previous year [2]. - The company's debt structure is concerning, with cash reserves of only 131 million yuan, insufficient to cover short-term debts [3]. - In 2024, the company reported operating revenue of 2.221 billion yuan, a year-on-year decline of 4.34%, and a net loss attributable to shareholders of 272 million yuan, marking the fifth year of losses in six years [3]. Asset Sales - The company announced plans to transfer up to 11.99% of its stake in Shenzhen Qingding Equipment Co., following a previous announcement to sell 80% of its subsidiary Nantong Silver Treasure New Technology [1][4]. - The stake in Qingding Equipment represents a significant reduction of over 40% in its indirect holding [1]. Management and Governance - The company has experienced high management turnover, with the election of its sixth chairman since its listing in 2015, indicating instability [4]. - In May 2023, the Shenzhen Stock Exchange raised concerns about the company's ongoing profitability, which remains unresolved [4]. Strategic Decisions - Silver Treasure New is selling technology assets during a critical accumulation period, raising questions about its future capabilities [4]. - The company has implemented various self-rescue measures, including asset sales and financing through guarantees and related party loans to ease cash flow pressures [3].

作 者丨张敏 编 辑丨张星 图 源丨IC p h o t o 近日，国家市场监管总局披露了一则收购信息。太盟投资、高和资本、腾讯、京东、阳光人 寿，直接或通过其各自关联方共同设立合营企业，并通过合营企业收购大连万达商业管理集团 股份有限公司（以下简称"大连万达商管"）直接或间接持有的48家目标公司的100%股权。 这48家公司是万达广场的项目公司，分布于39个国内城市，其中包括北京、上海、广州等一 线城市。 | 石家庄万达广场投资有限公司 | | --- | | 徐州万达广场置业有限公司 | | 义乌万达广场投资有限公司 | | 杭州共墅万达投资有限公司 | | 榆林万达广场置业有限公司 | | 绍兴柯桥万达广场投资有限公司 | | 福州万达广场投资有限公司 | | 佛山南海万达广场有限公司 | | 乌鲁木齐万达广场投资有限公司 | | 乐山万达广场实业有限公司 | | 重庆万州万达商业广场有限公司 | | 运城万达商业综合体管理有限公司 | | 南京江宁万达广场有限公司 | | 绵阳涪城万达广场有限公司 | | 宜宾万达广场商业服务有限公司 | | 天津自贸区万达置业有限公司 | | 海安万达地产置业有限公 ...

据国家市场监管总局最新披露，太盟（珠海）管理咨询合伙企业（有限合伙）、高和丰德（北京）企业 管理服务有限公司、腾讯控股有限公司、京东旗下北京市潘达商业管理有限公司、阳光人寿保险股份有 限公司直接或通过其各自关联方共同设立合营企业，并通过合营企业收购大连万达商业管理集团股份有 限公司直接或间接持有的48家目标公司的100%股权。 这是近两年以来，王健林出售万达广场动作最大的一次。根据列表，这48家目标公司分别涉及北京、广 州、成都、杭州、南京、武汉、厦门、福州、泉州、莆田等，共计39个城市的48座万达广场。国家市场 监管总局于5月21日无条件批准该交易，但具体金额未披露。 截至记者发稿，万达未就此事作出官方回应。 近日，"王健林再卖48座万达广场"登上热搜。 此次交易的收购方，基本都是万达的"老熟人"。比如，2018 年 1 月腾讯控股、苏宁、融创、京东与大 连万达集团签署战略投资协议，以 340 亿元入股万达商业，收购大连万达商管在香港退市时引入的投资 人持有的约14% 股份。 2024年3月30日，为解决上市受阻的对赌危机，大连万达商管集团宣布，与太盟投资集团、阿布扎比投 资局、穆巴达拉投资公司、中信资本、 ...

21世纪经济报道记者张敏 深圳报道 近日，国家市场监管总局披露了一则收购信息。太盟投资、高和资 本、腾讯、京东、阳光人寿，直接或通过其各自关联方共同设立合营企业，并通过合营企业收购大连万 达商业管理集团股份有限公司（以下简称"大连万达商管"）直接或间接持有的48家目标公司的100%股 权。 这48家公司是万达广场的项目公司，分布于39个国内城市，其中包括北京、上海、广州等一线城市。 有媒体报道称，此次交易金额将达到500亿元。21世纪经济报道记者向万达、太盟等方面询问，均未得 到确切答复。 但有分析人士指出，就资产体量来看，这将是继2017年的"世纪交易"后，万达最大规模的一次资产出 售。去年3月，万达还出售了旗下轻资产业务约30%的股权，获得资金600亿元。 近几年，万达遭遇流动性危机，出售资产和股权成为常态。此次大规模出售资产前，万达广场早已被摆 上货架。 但除了资产规模庞大外，和去年的股权出售一样，此次交易的主导方仍是太盟，则不免引人遐想。 作为亚洲知名的私募股权投资机构，太盟投资曾有过多次拿下标的公司控制权的案例。在上一轮对万达 的投资中，太盟领衔的投资者团队，获得了新达盟（投资者入局后新成立的轻资产 ...

Core Viewpoint - Wang Jianlin's Dalian Wanda Group has sold 48 Wanda Plaza projects to a consortium of investors, significantly alleviating its liquidity pressure amid ongoing debt challenges [1][3]. Group 1: Transaction Details - The sale involves 100% equity stakes in 48 Wanda Plaza companies located in major cities such as Beijing, Shanghai, Guangzhou, and others [1]. - The transaction has been approved unconditionally by the State Administration for Market Regulation, with an estimated value of 50 billion yuan (approximately 7.5 billion USD) [1][2]. - The acquisition will be facilitated through a special fund platform led by Taikang, which plans to invest around 5 billion yuan and secure 30 billion yuan in loans from state-owned banks [2]. Group 2: Financial Context - Dalian Wanda Group has faced significant debt pressure, with over 40 billion yuan in non-current liabilities due within a year as of September last year [3]. - Short-term borrowings have increased by 190% year-on-year, indicating substantial financial strain [3]. - The sale of these assets is expected to coincide with the maturity of Wanda's debts, providing a critical cash influx [3]. Group 3: Historical Context and Stakeholders - This transaction marks the largest asset sale since Wanda's previous major deal in 2017, which involved 637.5 billion yuan for various projects [4]. - The buyers include established firms such as Tencent Holdings and various investment and insurance companies, indicating a shift in the profile of Wanda's investors [5][6]. - Taikang has previously invested in Wanda's management group, highlighting a long-standing relationship between the two entities [6][7].

沙特阿美正考虑出售部分资产以筹措资金 金十数据5月24日讯，据两名知情人士透露，随着国际油价低迷以及公司推进全球扩张战略，沙特阿美 正在探索潜在的资产出售计划，以释放更多现金流。作为全球最大石油生产商和沙特政府的主要收入来 源，沙特阿美今年预计将把股息支付削减近三分之一，原因是油价下跌严重影响了其营收。消息人士 称，公司已邀请多家投资银行提交方案，探讨如何通过现有资产筹措资金。此外，另有两名了解情况的 人士表示，降本增效是当前重点，而资产出售正是被考虑的选项之一。截至目前，沙特阿美尚未作出回 应。 ...

Core Viewpoint - Wingtech Technology Co., Ltd. plans to sell its product integration business, and has commissioned Shenzhen Zhonglian Asset Appraisal Co., Ltd. to estimate the market value of the equity and business asset package involved in this transaction as of December 31, 2024 [1][4][17]. Group 1: Valuation Purpose and Background - The valuation aims to provide a market value estimate for the equity and business asset package related to the product integration business that Wingtech Technology intends to sell [4][17]. - The valuation date is set for December 31, 2024, based on considerations of asset scale and required time [17]. - The valuation type is defined as market value, reflecting the fair trading value under normal conditions [17]. Group 2: Valuation Scope and Financial Data - The valuation encompasses the equity and business asset package of five companies involved in the product integration business, including subsidiaries [5][17]. - As of the valuation date, the total assets of the equity and business asset package are estimated at CNY 2,479,815,000, with total liabilities of CNY 2,040,868,920, resulting in a net asset value of CNY 438,946,090 [8][17]. - The financial performance for the year ending December 31, 2024, shows projected revenue of CNY 5,982,554,040, but a net loss of CNY 394,025,490 [8][17]. Group 3: Business Impact and Market Conditions - The decision to sell the product integration business is influenced by the U.S. Department of Commerce's inclusion of Wingtech Technology on the Entity List, which has adversely affected its business operations [8]. - The sale will be conducted as a cash transaction with Luxshare Precision Industry Co., Ltd. and Luxshare Communications (Shanghai) Co., Ltd. [8]. - The asset package includes various subsidiaries and their respective financial data, indicating a complex structure of ownership and operational assets [5][8].

Core Viewpoint - The company plans to strategically exit the product integration business by selling 100% equity of several subsidiaries and business assets to Luxshare Precision for a total transaction price of 4.389 billion yuan [1] Financial Summary - As of December 31, 2024, the company's total assets are 74.978 billion yuan, total liabilities are 40.137 billion yuan, operating revenue is 73.598 billion yuan, and net profit is -2.858 billion yuan [1] - After the transaction, the company's total assets will decrease to 66.4 billion yuan, total liabilities will decrease to 31.591 billion yuan, operating revenue will decrease to 15.256 billion yuan, and net profit will increase to 1.341 billion yuan [1]

Core Viewpoint - China Aviation Industry Fund (中航产融) is selling assets to recover funds as it is in the process of delisting from the stock market due to significant operational uncertainties and expected financial losses [1][2][7]. Group 1: Asset Sale Details - The company plans to transfer 160 million shares of AVIC Xi'an Aircraft Industry Group (中航西飞) and 22.68 million shares of AVIC Aircraft (中航机载) to its controlling shareholder, AVIC (中国航空工业集团), for a total price of approximately 4.067 billion yuan [1][4]. - The share transfer represents 5.76% of AVIC Xi'an's total shares and 0.47% of AVIC Aircraft's total shares [4]. - The transfer price is based on the average weighted price of the shares over the previous 30 trading days, with AVIC Xi'an priced at 23.81 yuan per share and AVIC Aircraft at 11.19 yuan per share [4]. Group 2: Financial Performance and Future Plans - As of September 2024, the company's total assets amounted to 442.393 billion yuan, with a debt-to-asset ratio of 85.13% [3][6]. - The company anticipates a net loss of approximately 48 million yuan for 2024, marking its first loss since 2006, with a projected net loss of 189 million yuan after excluding non-recurring items [2][5]. - The company is actively pursuing a voluntary delisting from the A-share market, with the Shanghai Stock Exchange having accepted its application for termination of listing [2][7][8]. Group 3: Legal Issues - The company is facing a lawsuit from China Life Insurance (中国人寿) regarding a share buyback dispute, with the total claim amounting to approximately 2.71 billion yuan [9][10].