Group 1 - The core point of the announcement is the progress regarding the performance commitment made by the controlling shareholder, Kexiang High-tech Development Co., Ltd., following the company's restructuring plan approved by the court [2][4]. - The controlling shareholder committed to ensuring that the audited net profit of the company would not be less than 250 million yuan over three fiscal years post-restructuring [2][4]. - The actual audited net profit for the years 2022 to 2024 was reported at 38,850,074.57 yuan, resulting in a shortfall of 211,149,925.43 yuan, which triggers the performance compensation obligation [4][5]. Group 2 - Kexiang High-tech is obligated to compensate the company for the shortfall amounting to 211,149,925.43 yuan within 30 days following the audit report publication, which is due by May 28, 2025 [5]. - The company has communicated with Kexiang High-tech multiple times to urge compliance with the performance commitment and to clarify the asset status [6]. - Kexiang High-tech has acknowledged the communication and expressed commitment to fulfill the performance obligations, potentially through asset disposal, while ongoing discussions are taking place [7].

Core Viewpoint - The proposal regarding the performance commitment of Feima International was not approved during the 2024 annual general meeting, reflecting shareholder dissatisfaction with the company's performance and commitments [1][2]. Group 1: Shareholder Meeting Outcomes - The proposal on the performance commitment was supported by approximately 48.26 million shares (43.86% of votes) but opposed by about 61.53 million shares (55.91% of votes) [1]. - The controlling shareholder, New Zengding Investment Development Co., Ltd., abstained from voting on this proposal [1]. - The voting results indicate a significant opposition from minority shareholders, with 48.25 million shares in favor (43.85%) and 61.53 million shares against (55.92%) [1]. Group 2: Company Restructuring and Performance Commitments - Feima International underwent restructuring in August 2019, with New Zengding acquiring approximately 287 million shares, representing 29.90% of the post-restructuring total shares [2]. - The restructuring plan included a performance commitment from New Zengding to achieve a net profit of no less than 570 million yuan for the years 2022, 2023, and 2024 [2]. - As of April, the cumulative net profit reported by Feima International for 2022, 2023, and 2024 was approximately 133 million yuan, significantly below the committed amount, triggering a compensation obligation of about 437 million yuan from New Zengding [2]. Group 3: Investor Concerns and Future Actions - During a recent earnings briefing, investors raised concerns regarding the lack of asset injection commitments that were initially promised during the restructuring process [3]. - Legal experts noted that the failure of the performance commitment proposal may reflect minority shareholders' collective dissatisfaction with the unfulfilled asset injection promises [3]. - The company is currently engaging with shareholders who voted against the proposal to understand their concerns and may consider resubmitting the proposal for further review [3].

Core Viewpoint - The report provides a verification of the performance commitments of Huanrui Century (Dongyang) Film and Television Media Co., Ltd. for the years 2016-2018, confirming that the management's statements align with accounting standards and regulations [1][5][12]. Group 1: Performance Commitment Overview - Huanrui Century completed the acquisition of Huanrui Film in 2016, issuing 391,644,880 shares to acquire 100% of the company [5][6]. - The original shareholders of Huanrui Film committed to minimum net profits of RMB 222.3 million, RMB 270 million, and RMB 343 million for the years 2016, 2017, and 2018, respectively [6][7]. - If the actual net profits fell short of these commitments, the original shareholders were obligated to compensate according to the profit compensation agreement [7][8]. Group 2: Verification and Audit Findings - Tianjian Accounting Firm provided audit reports for the years 2016-2018, with a standard unqualified opinion for 2016 and 2017, but a qualified opinion for 2018 due to uncertainties regarding accounts receivable related to the drama "Tianxia Chang'an" [11][12]. - The management of Huanrui Century made additional provisions for bad debts amounting to RMB 293.61 million to address the issues raised in the 2018 audit report [15][16]. - Following adjustments, the cumulative actual net profit for the commitment period was RMB 589.31 million, which was 70.49% of the cumulative commitment amount of RMB 836 million [16]. Group 3: Compensation Calculations - Based on the profit compensation agreement, the number of shares to be compensated was calculated as 11,556.62 thousand shares due to the shortfall in net profit [16][18]. - The compensation mechanism included adjustments for any stock splits or capital increases that occurred during the commitment period [8][9].

Core Viewpoint - The independent financial advisor, Chengtong Securities, conducted a verification of the performance commitments made by Huanrui Century United Co., Ltd. regarding the acquisition of Huanrui Century (Dongyang) Film and Television Media Co., Ltd. for the years 2016-2018, revealing that the company failed to meet its profit commitments during this period [1][11]. Basic Situation - Huanrui Century completed the acquisition of 100% equity of Huanrui Film in 2016, with the transaction approved by the China Securities Regulatory Commission [1][2]. - The performance commitments included net profits of at least 241 million RMB, 290 million RMB, and 368 million RMB for the years 2016, 2017, and 2018, respectively [3]. Performance Commitment Situation - The original shareholders of Huanrui Film committed to specific profit levels, with provisions for compensation if these levels were not met [2][3]. - The compensation mechanism involves calculating the number of shares to be compensated based on the shortfall in actual profits compared to the committed profits [3][4]. Performance Completion Situation - The auditing firm Tianjian issued reports for the years 2016-2018, with a qualified opinion for 2018 due to uncertainties regarding accounts receivable from the drama "Tianxia Chang'an" [5][6]. - The company recognized a bad debt provision of 293.61 million RMB to address the issues raised in the audit [6][7]. Compensation Calculation - The total shortfall in performance commitments over the three years amounted to 246.686 million RMB, leading to a required compensation of 11.55662 million shares [10][11]. - The calculated compensation value based on the share price of 7.66 RMB per share exceeds the impairment amount determined for Huanrui Film, resulting in no cash compensation required from the original shareholders [11]. Verification Opinion - Chengtong Securities concluded that Huanrui Film did not fulfill its performance commitments, necessitating compensation as per the agreements [11][12]. - The company is advised to ensure that the performance commitment parties fulfill their obligations in a timely manner to protect the interests of the company and its investors [13].

中信证券股份有限公司 关于 格力地产股份有限公司 重大资产置换暨关联交易 之 独立财务顾问 二零二五年五月 声明和承诺 释 义 本持续督导意见中，除非文意另有所指，下列简称具有如下含义： 《中信证券股份有限公司关于格力地产股份有限公司重大 本持续督导意见 指 资产置换暨关联交易之 2024 年度持续督导报告书》 格力地产、公司、本公 格力地产股份有限公司，于 2025 年 4 月 28 日变更公司名称 指 免税集团、珠海免税集 指 珠海市免税企业集团有限公司 中信证券股份有限公司（以下简称"中信证券"）接受委托，担任格力地产 股份有限公司（以下简称"格力地产"或"上市公司"或"公司"）重大资产置 换暨关联交易的独立财务顾问。本独立财务顾问按照证券行业公认的业务标准、 道德规范，本着诚实信用、勤勉尽责的态度，出具本持续督导意见。 诺上述有关资料均为真实、准确和完整的，不存在虚假记载、误导性陈述或者重 大遗漏，并承担因违反上述承诺而引致的个别和连带的法律责任。 的专业意见与上市公司披露的文件内容不存在实质性差异。 督导意见所做出的任何投资决策而产生的相应风险，本独立财务顾问不承担任何 责任。 意见中列载的信息和对 ...

Group 1 - The core point of the article is that Senba Sensor Technology Co., Ltd. is acquiring 67% equity of Wuxi Green Tong Safety Equipment Co., Ltd. through a combination of issuing shares and cash payment, with a total transaction price of 215.07 million yuan [4][5][6] - The cash payment for the acquisition is 105.93 million yuan, while the share payment is 109.14 million yuan [4][5] - The company plans to raise matching funds not exceeding 105.93 million yuan through issuing shares to no more than 35 specific investors [5][6] Group 2 - The transaction has completed the necessary decision-making and approval processes, including signing relevant agreements and obtaining regulatory approvals [6][9] - The asset transfer has been completed, and the company has obtained the 67% equity of Wuxi Green Tong, with all registration procedures finalized [8][9] - The independent financial advisor has confirmed that the transaction has been executed in compliance with the agreements, and the cash payment has been made as per the stipulated timeline [9][10] Group 3 - The performance commitment for the acquired company includes net profit targets of 30.64 million yuan, 32.17 million yuan, and 33.78 million yuan for the years 2023, 2024, and 2025, respectively [10][11] - The actual net profit for 2024 was reported at 28.44 million yuan, achieving a performance commitment completion rate of 88.40% [20][21] - The independent financial advisor noted that while the 2024 performance commitment was not met, the cumulative actual net profit exceeded the cumulative commitment, thus no compensation is required [21] Group 4 - The company reported a revenue of 446.37 million yuan for 2024, representing a year-on-year increase of 51.33% [24] - The net profit attributable to shareholders for 2024 was 53.17 million yuan, with a significant increase in net profit compared to the previous year [24] - The company has actively pursued research and development, resulting in the successful development of new products and technologies [22][23]

云南铜业: 关于非公开发行股票之标的资产2024年 度业绩承诺实现情况的专项说明 云南铜业股份有限公司 关于非公开发行股票之标的资产 2024 年度业绩承诺实现情况的专项说明 云南铜业股份有限公司 关于非公开发行股票之标的资产 2024 年度业绩 承诺实现情况的专项说明 根据深圳证券交易所相关规定，云南铜业股份有限公司（简称"本公司"）编制了 《云南铜业股份有限公司关于非公开发行股票之标的资产 2024 年度业绩承诺实现情况 的专项说明》。 一、本次非公开发行及标的资产过户的基本情况 股票的批复》（证监许可〔2022〕1853 号），核准公司非公开发行不超过 509,903,568 股新股。公司本次非公开发行股票的部分募集资金用于收购云南铜业（集团）有限公司 （以下简称"云铜集团"、"补偿主体"）持有的迪庆有色 38.23%股权（以下简称"本次交 易"）。 若目标公司在业绩承诺期内累计实现净利润数高于或等于承诺净利润数，则转让方 无需对受让方进行任何业绩承诺补偿；若目标公司在业绩承诺期内累计实现净利润数低 于承诺净利润数,则转让方应对受让方进行业绩承诺补偿（"业绩承诺补偿"）。具体补偿 计算公式:业绩承诺补偿 ...

文/梧桐小新 又一上市公司并购踩雷！ 近日，上交所公布一则纪律处分决定书，常州神力电机股份有限公司（神力股份，603819）资产购买交易对方砺剑防务技术集团有限公司因未按约定履行业绩补 偿承诺，涉及金额较大，直接损害上市公司利益，被上交所予以公开谴责。 一、并购踩雷，业绩承诺实现不到20% 根据神力股份于2023年8月11日披露的《关于出售控股子公司并豁免中物一方自愿性承诺暨关联交易的公告》，2020年10月15日、2020年11月4日，公司与砺剑防 务技术集团有限公司、深圳砺剑防卫技术有限公司签订了股权转让及增资协议和补充协议。 协议约定砺剑集团持有的砺剑防卫55%的股权作价2.64亿元转让给公 司，同时公司对砺剑防卫进行增资以3,000万元认购砺剑防卫2.65%的股权。 砺剑集团承诺砺剑防卫2020年至2022年经审计的累计净利润总额应不低于1.2亿元， 在2020年、2021年、2022年实现的净利润分别不低于0.15亿元、0.4亿元、 0.65亿元； 如果砺剑防卫2020年至2022年经审计的扣除非经常性损益后的净利润未达到上述承诺且合计低于1.2亿元的50%，公司有权要求砺剑集团按约定价格 回购公司 ...

问题 1、2019 年，建金投资和华日升投资自愿追加承诺华日升 2019、2020 年业 绩承诺，自愿赔偿 2019、2020 年末华日升的资产减值损失，并对华日升 2020 年末计提坏账准备后的应收账款余额承担管理责任，若 24 个月内未实现回收， 需按其原持有华日升的股份比例以现金进行垫付（以下简称"应收账款垫付义 务"）。华日升 2019 年实现业绩承诺，2020 年未实现业绩承诺；2019 年末、2020 年末的华日升全部股东权益评估值分别为 88,850 万元和 82,960 万元，未发生减 值;2021 年末你公司对收购华日升形成的商誉计提减值准备 3.1 亿元，2022 年末 未计提商誉减值准备。本次公告显示，作为本次股权转让交易的一揽子计划， 你公司同意寰邦投资支付第一、二期股权转让款合计 8000 万元后，豁免建金投 资和华日升投资的应收账款垫付义务，并分期解锁建金投资和华日升投资持有 的股票。请你公司： 问询函回复 第 1 页 立信会计师事务所（特殊普通合伙） 关于对苏州苏大维格科技集团股份有限公司 关注函相关问题的回复 信会师函字[2023]第 ZA433 号 深圳证券交易所创业板公司管 ...