Core Viewpoint - The investment management system of Henan Zhongyuan Expressway Co., Ltd. aims to standardize investment behavior, enhance investment management, mitigate investment risks, and improve investment efficiency in accordance with relevant laws and regulations. Investment Activities - Investment activities include fixed asset investment, equity investment, asset acquisition, fund investment, intangible asset investment, debt investment, and other forms of investment [1][2]. Major Investment Projects - Major investment projects are defined as those with a single investment amount of 100 million yuan or more, or those that account for 5% or more of the company's audited net assets from the previous fiscal year [2]. Basic Principles of Investment - Investments should align with national and provincial development plans, comply with laws and regulations, match the company's capabilities, ensure reasonable returns, and maintain controllable risks [4][3][5]. Decision-Making Process - Investment decisions are made by the shareholders' meeting, board of directors, and general manager's office, with specific thresholds for approval based on the investment amount relative to the company's net assets [6][5]. Investment Management Responsibilities - The investment and industry development department is responsible for drafting investment management regulations, compiling annual investment plans, and supervising investment activities of subsidiaries [6][7]. Annual Investment Plan Management - The annual investment plan must include overall investment goals, scale, funding sources, investment direction, and project necessity, feasibility, and risk control measures [12][8]. Project Decision Procedures - Investment projects require preliminary research, feasibility studies, and project evaluations, with necessary documentation submitted for approval by the relevant decision-making bodies [16][19]. Post-Investment Evaluation - Post-investment evaluations are conducted to assess the effectiveness of projects, identify gaps, and provide feedback for future decision-making [26][15]. Risk Management - The company emphasizes risk prevention in major equity investments, requiring risk assessment reports and adherence to asset evaluation management systems [29][30].

Core Points - The article outlines the investment management system of Shanghai Phoenix Enterprise (Group) Co., Ltd, emphasizing the establishment of a standardized, effective, and scientific investment decision-making framework to enhance internal controls and ensure compliance with legal and regulatory requirements [1][2][3] Group 1: Investment Management Principles - The investment projects include asset and equity investments both domestically and internationally, with significant projects defined as those with an investment amount of 30 million yuan or more [1] - The investment principles include strategic alignment, legal compliance, capability matching, reasonable returns, and a pre-approval process before investment [1][2] Group 2: Investment Management Structure - The decision-making authority for investments is distributed among the shareholders' meeting, board of directors, and management, with the board's audit committee overseeing the legality and compliance of investment projects [2][3] - The Investment and Asset Management Department is responsible for executing and managing investment projects, including annual investment planning and reporting [3][4] Group 3: Pre-Investment Management - Annual investment plans must be submitted by December 10 each year, detailing the overall investment situation, individual project specifics, and risk management measures [4][5] - Investments in non-core businesses are limited to a maximum of 5% of the total annual investment scale, with strict controls on the investment in non-core areas [4][5] Group 4: Investment Execution and Monitoring - Mid-year investment execution reports are required by early July, summarizing project progress, fund usage, and any issues encountered [8] - The company must establish a mechanism for ongoing management and supervision of invested enterprises, ensuring timely communication and decision-making [9][10] Group 5: Post-Investment Management - An annual investment completion report must be submitted by the end of December, analyzing the effectiveness of investments and any significant issues [12][13] - The company maintains a risk management system throughout the investment process, focusing on pre-investment risk assessments and ongoing monitoring [14][15] Group 6: Accountability and Compliance - The compliance and risk control department is responsible for evaluating investment projects and suggesting accountability measures for any violations of procedures or regulations [16][17] - The investment management system must adhere to relevant laws and regulations, ensuring proper disclosure and compliance with state-owned asset supervision requirements [16][17]

Group 1 - The board of directors of Shanghai Phoenix Enterprise (Group) Co., Ltd. held its fourth meeting of the eleventh session on June 13, 2025, with all 11 directors present, and the meeting was chaired by Chairman Hu Wei [1] - The board approved the proposal to re-establish the "Shanghai Phoenix Investment Management System" with a unanimous vote of 11 in favor, 0 against, and 0 abstentions [1] - The board also approved a proposal to provide guarantees for its wholly-owned subsidiary, Phoenix Bicycle, with the same unanimous voting results [2]

Core Viewpoint - The investment management system of Jiangsu Lianyungang Port Co., Ltd. aims to standardize investment behavior, mitigate risks, enhance investment efficiency, and protect shareholder interests, in accordance with relevant laws and regulations [1][2]. Group 1: General Principles - The investment includes both internal and external investments, with internal investments aimed at expanding operations and improving product quality, while external investments encompass equity investments, financial assets, and leasing operations [1]. - Investments must adhere to principles such as compliance with laws, maximizing shareholder benefits, alignment with corporate strategy, prudent risk management, and scientific decision-making [1]. Group 2: Investment Authority Management - The shareholders' meeting has the authority to decide on all investment matters, provided they comply with national laws and regulations [2]. - Specific investment management thresholds include: - Total asset investment exceeding 50% of the latest audited total assets [2] - Transaction amounts exceeding 50% of the latest audited net assets and over 50 million yuan [2] - Profits from investments exceeding 50% of the latest audited net profit and over 5 million yuan [2] - Revenue from investment targets exceeding 50% of the latest audited revenue and over 50 million yuan [2] - Net profits from investment targets exceeding 50% of the latest audited net profit and over 5 million yuan [2]. Group 3: Decision Control - Prior to investment decisions, a feasibility study must be conducted, analyzing return rates, payback periods, and associated risks [4]. - Approved investment projects must have authorized documents and budgets, with adjustments allowed based on actual circumstances [5]. Group 4: Execution Control - An investment implementation plan must be established, detailing funding amounts, methods, and responsible personnel [6]. - The company must track investment projects, monitor financial health, and report any anomalies to authorized personnel [6]. Group 5: Supervision and Inspection - The internal audit department is responsible for establishing a supervision and inspection system for investment internal controls, focusing on personnel allocation, decision-making processes, and compliance with approval procedures [7][8]. - Any weaknesses identified during inspections must be reported and addressed promptly [8]. Group 6: Miscellaneous - The investment management system will be effective upon approval by the shareholders' meeting, replacing the previous system [8].