证券代码：002256 证券简称：兆新股份公告编号：2025-072 登录新浪财经APP 搜索【信披】查看更多考评等级 基于各方股东对青海锦泰后续经营的关注与支持，公司已与青海锦泰现有股东富康矿业、李世文及潜在 股东青海新兴能源产业发展基金（有限合伙）签署战略合作方案。核心约定：各方行使青海锦泰股东 会、董事会召集权、提案权、表决权等权利时，均以兆新股份意见为准并保持一致行动；后续计划总委 托投票权为不超过 56%的持股比例，其中青海新兴能源产业发展基金（有限合伙）占比约 22%、富康 矿业及李世文占比约 18%。各方委派董事按兆新股份意见行使表决权等董事权利，保障青海锦泰依兆 新股份战略推进债务重组与经营绩效提升。 该安排有效保障公司参股后的股东权益与监督权，助力各方股东协同提升青海锦泰经营管理效能，切实 维护全体股东合法权益。同时，保障了公司及一致股东对青海锦泰的后续运作的决策主导权。相关一致 行动关系待股权变更完成工商登记后将签署正式协议。 公司将持续保持与青海省西宁市中级人民法院的沟通，关注法院对富康矿业持有青海锦泰对应出资额为 人民币3,036.6421万元（当前折合持股比例为15%）的股权的后续处 ...

深圳市兆新能源股份有限公司 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002256 证券简称：兆新股份 公告编号：2025-063 第七届董事会第十次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 深圳市兆新能源股份有限公司（以下简称"公司"）第七届董事会第十次会议于2025年11月13日下午 15:00以通讯表决方式召开，会议通知于2025年11月11日以电子邮件、电话方式通知全体董事、监事和 高级管理人员。召集人对本次会议的通知向与会董事作出了说明，与会董事同意豁免本次董事会会议通 知时限要求。 鉴于富康矿业未通过其他方式清偿债务，亦未与公司达成可行性的债务清偿方案，基于追回债务以最大 程度降低损失、维护公司及股东利益等综合原因，公司拟通过司法程序接受以富康矿业持有的青海锦泰 15%股权抵偿对应富康矿业需支付公司的债务本金人民币3.545亿元、违约金、交易费用及一切合理费 用。若股东大会审议通过并完成股权权属变更，青海锦泰将成为公司的参股公司，不会导致公司合并报 表范围发生变化。 具体详见同日公司在《上海证券报》、《中国证券 ...

Core Viewpoint - Dalian Wanda Group, led by Chairman Wang Jianlin, is engaging in a series of capital operations to resolve its debt crisis, with key partnerships formed with internet giants Tencent and JD.com [1][5]. Group 1: Capital Operations - A private equity fund named Suzhou Kuanyu Equity Investment Fund, consisting of 13 companies including Tencent and others, was established with a total investment of 22.429 billion yuan [1]. - Tencent's two subsidiaries contributed approximately 9.959 billion yuan, holding a combined stake of about 44.4% in the fund [3]. - The establishment of the fund is part of Wanda's strategy to alleviate its liquidity crisis by attracting strategic investors [7]. Group 2: Joint Ventures - Wanda and Tencent formed a joint venture named Shenzhen Zhishu Investment Partnership with a scale of 16.076 billion yuan, where Wanda holds approximately 55% and Tencent holds about 45% [6]. - Another joint venture with JD.com, named Beijing Hongrui Panda Management Consulting Partnership, has a total investment of 8.053 billion yuan, with Wanda holding around 54.97% and JD.com holding about 45% [7]. - Analysts suggest that these partnerships may serve as a method of "debt-for-equity" to mitigate financial pressures, allowing Wanda to retain operational cash flow while providing Tencent and JD.com with equity in quality assets [7]. Group 3: Asset Sales and Future Directions - Wanda has been actively selling multiple Wanda Plaza properties over the past two years, with major insurance companies as primary buyers [8]. - Wang Jianlin's recent activities include exploring investment opportunities in Xinjiang, indicating a potential shift towards cultural tourism projects after significant asset sales [8].

Core Viewpoint - The collaboration between Tencent, JD.com, and Wanda Group marks a significant step in addressing Wanda's debt crisis through capital operations, with the establishment of joint ventures and a large investment fund [1][3][11]. Group 1: Joint Ventures and Investments - A new investment fund, Suzhou Kuanyu Equity Investment Fund, has been established with a total investment of 22.429 billion yuan, involving Tencent, JD.com, and Wanda among 13 partners [1]. - Wanda has formed a partnership with Tencent in Shenzhen with an investment of 16.076 billion yuan and another with JD.com in Beijing with an investment of 8.053 billion yuan, totaling 46.5 billion yuan across these ventures [1][3]. - The total investment aligns closely with a previous plan to acquire equity in 48 Wanda companies for approximately 50 billion yuan, indicating the practical realization of this transaction [1][4]. Group 2: Historical Context and Strategic Moves - The current investments are seen as a follow-up to a May plan where PAG, Tencent, JD.com, and others aimed to acquire 48 Wanda companies, which include major projects in first- and second-tier cities [4]. - Tencent and JD.com's investment amounts in the new fund are comparable to their previous investments during Wanda's privatization in 2018, suggesting a restructuring of their exit strategy from earlier investments [4][5]. - The partnership is viewed as a strategic move to explore new consumption models by integrating e-commerce with commercial real estate [5]. Group 3: Debt Management and Future Prospects - Analysts suggest that the sale of 48 major Wanda Plaza assets may be aimed at repaying approximately 15 billion yuan in debts owed to Suning and Sunac [7]. - The joint ventures may serve as a mechanism for Wanda to offset debts by injecting assets into these partnerships, allowing for cash flow preservation while providing Tencent and JD.com with equity in valuable assets [9][11]. - The structure of the joint ventures, while giving Wanda a majority stake, effectively places control in the hands of Tencent and JD.com, which may facilitate smoother capital operations and tax advantages [10][11].

Core Viewpoint - Wang Jianlin is utilizing a series of capital operations to resolve Wanda's debt crisis, with internet giants Tencent and JD.com becoming key partners [1][16]. Group 1: Capital Operations - A large private equity fund named Suzhou Kuanyu was established with a total investment of 22.429 billion yuan, co-funded by Tencent, JD.com, and 13 other partners, focusing on equity investment and asset management [1][4]. - Wanda, Tencent, and JD.com have formed three partnership enterprises with total investments of 46.5 billion yuan, aligning with a previous plan to acquire equity in 48 Wanda companies for approximately 50 billion yuan [2][5]. - The largest fund, Suzhou Kuanyu, has Tencent's two affiliated companies holding about 44.04% and JD.com holding 22.2% indirectly [4]. Group 2: Historical Context - In May, a consortium led by PAG, Tencent, JD.com, and others planned to acquire 48 Wanda companies, which are located in major cities like Beijing and Guangzhou [6]. - Tencent and JD.com's investment amounts in the new fund are similar to their previous investments during Wanda's privatization in 2018, indicating a restructuring of their exit strategy [6][11]. Group 3: Debt Management Strategy - Analysts suggest that Wanda's sale of 48 major Wanda Plaza assets may be aimed at repaying debts of nearly 15 billion yuan owed to Suning and Sunac [10]. - The partnerships with Tencent and JD.com may serve as a method of "equity for debt," allowing Wanda to avoid large cash payments while retaining operational cash flow [13][16]. Group 4: Control and Structure - Although Wanda holds a 55% stake in the new partnerships, actual control lies with Tencent and JD.com, which hold shares through their Hong Kong companies [15]. - This structure may facilitate easier capital repatriation and tax benefits for Tencent and JD.com, enhancing their investment returns [15]. Group 5: Future Outlook - The establishment of these partnerships is seen as a critical move for Wanda to alleviate creditor pressures and transition towards a lighter asset operation model [16]. - Wang Jianlin's recent activities in Xinjiang for investment and tourism projects suggest a potential shift in Wanda's strategic focus following the sale of commercial real estate [16].

Core Viewpoint - Wang Jianlin is utilizing a series of capital operations to resolve Wanda's debt crisis, with internet giants Tencent and JD.com becoming key partners [1] Group 1: Capital Operations - The Suzhou Kuanyu Equity Investment Fund has been established with a total investment of 22.429 billion yuan, involving Tencent, JD.com, and Wanda among 13 partners [1] - Wanda has formed a partnership with Tencent in Shenzhen with an investment of 16.076 billion yuan, and another partnership with JD.com in Beijing with an investment of 8.053 billion yuan [1] - The total investment from these three partnerships amounts to 46.5 billion yuan, aligning with a previous plan to acquire stakes in 48 Wanda companies for approximately 50 billion yuan [1][4] Group 2: Historical Context - The recent capital cooperation marks a significant acceleration in collaboration between Wanda, Tencent, and JD.com, with varying equity structures and functional roles [3] - The largest fund, Suzhou Kuanyu, has Tencent's two affiliated companies holding about 44.04% and JD.com holding 22.2% indirectly [3] Group 3: Debt Management - The investment is seen as a realization of a 50 billion yuan acquisition plan initiated in May, targeting 48 companies under Wanda Commercial Management [4] - Analysts suggest that Wanda's decision to sell 48 major Wanda Plaza assets may be aimed at repaying debts of nearly 15 billion yuan owed to Sunac and others [7] Group 4: Strategic Implications - The partnerships may serve as a method of "equity for debt" to alleviate financial pressures, allowing Wanda to retain operational cash flow while providing Tencent and JD.com with equity in quality assets [8] - The structure of the partnerships allows Tencent and JD.com to maintain actual control despite Wanda holding a majority stake, facilitating easier capital flow and tax advantages [9] Group 5: Future Directions - Wang Jianlin's strategic moves, including asset sales and partnerships, are critical for alleviating financial pressures and transitioning Wanda towards a light asset operation model [10] - There is speculation about Wanda's potential shift back to cultural tourism projects following significant commercial real estate divestments [10]

Group 1 - The core viewpoint is that Sun Hongbin, the leader of Sunac, has successfully navigated through a severe debt crisis, with plans to clear 68 billion yuan in debt, marking a significant turnaround for the company [1][3] - Sunac's debt restructuring plan has received support from over 70% of its overseas creditors, indicating a strong likelihood of resolution and the end of a three-year debt struggle [3] - The company faced a drastic decline in sales, with a 77% drop in revenue, leading to a cash flow crisis and inability to meet dollar bond interest payments in 2022 [3][5] Group 2 - Sun Hongbin's strategy involved converting debt into equity, allowing creditors to become shareholders, which is seen as a better alternative to bankruptcy [5] - The health industry, particularly the male health maintenance sector, is identified as a potential growth area, with the global market expected to grow from 24 billion USD in 2023 to 43 billion USD by 2027 [6] - Sunac still holds valuable real estate projects, such as the Shanghai One Number Courtyard, which has achieved over 17 billion yuan in sales this year, showcasing the company's potential for recovery [9] Group 3 - The relationship between Sun Hongbin and Wang Jianlin has changed significantly, with Sunac's financial recovery contrasting with Wang's ongoing debt issues, raising questions about future collaborations [10]