股权融资中的尽职调查（简称"尽调"）是投资方对目标企业进行全面核查与价值评估的关键环节，旨在识别风险、验证信息真 实性，并为投资决策（如估值、条款设计）提供依据。以下从流程框架和核心要点两方面展开说明，兼顾企业端（被投方）的 准备建议。 一、股权融资尽职调查的核心流程 尽调流程通常分为前期准备→实施尽调→报告输出→后续跟进四大阶段，具体如下： 1. 前期准备阶段 2. 实施尽调阶段（核心环节） 投资方通过资料核查、现场访谈、第三方验证、现场考察等方式，从多维度展开尽调，主要包括： 3. 报告输出阶段 4. 后续跟进阶段 二、尽职调查的核心要点（分模块解析） 不同阶段、行业的企业的尽调重点不同（如早期企业重团队与市场，成熟企业重财务与合规），但通用核心要点如下： （一）业务尽调：验证"增长逻辑是否成立" 签署保密协议（NDA）：投资方与企业先签署保密协议，明确双方对尽调过程中接触的商业秘密、财务数据等信息的保密 义务。 组建尽调团队：投资方内部团队（投资经理、分析师）联合外部顾问（会计师、律师、行业专家）分工协作。 制定尽调计划：根据企业阶段（早期/成长期/成熟期）、行业特性（科技/消费/制造等），确定尽调范围 ...

Core Viewpoint - The board of directors of Huaxia Happiness (600340.SH) rejected five temporary proposals submitted by shareholder Ping An Life Insurance Co., focusing on debt restructuring and financial disclosures [1][2]. Group 1: Temporary Proposals - The five proposals included requests for special resolutions regarding pre-restructuring and restructuring matters, the removal of non-independent director Feng Nianyi, and the election of Qiao Wenli as a non-independent director [1]. - Other proposals called for the company to cooperate with the creditor committee for financial due diligence and to disclose reasons for the underperformance of the debt restructuring plan [1]. Group 2: Board's Response - Seven board members voted against the proposals, with only one in favor, as the chairman Wang Wenxue deemed them non-compliant with relevant laws and regulations [2]. - The company had previously announced on November 17 that it was applying for pre-restructuring, which raised compliance concerns from Ping An, who questioned the announcement's procedural validity [2]. Group 3: Financial Due Diligence - On November 21, the creditor committee initiated a proposal to authorize Ping An Asset Management to hire an accounting firm for a special financial due diligence on Huaxia Happiness, addressing issues of transparency in debt solutions and fund allocation [2]. - Director Feng Nianyi stated that the company is cooperating with the temporary administrator to ensure the smooth progress of the pre-restructuring process, but cannot define obligations to cooperate with the creditor committee for additional financial due diligence [2].