Group 1 - The essence of equity financing due diligence is to reduce information asymmetry risks through systematic verification by investors, while companies enhance their financing success rate through transparent disclosure and issue rectification [16] - Due diligence typically consists of four main stages: preparation, implementation, report output, and follow-up [3] - Different stages and industries have varying due diligence focuses, but common core points include business, financial, legal, human resources, and technology due diligence [4][7][9][11][13] Group 2 - Business due diligence aims to verify the feasibility of the business model, market competitiveness, and growth logic [4] - Financial due diligence involves checking the authenticity of financial data, profitability quality, and cash flow health [7] - Legal due diligence focuses on identifying compliance risks, equity structure, major contracts, and potential litigation [9] Group 3 - Human resources due diligence assesses the stability of the core team, compensation structure, and labor compliance [11] - Technology and intellectual property due diligence, particularly for tech companies, verifies technological barriers, patent validity, and sustainable R&D [13][15] - Companies should prepare for due diligence by organizing necessary documents, such as business licenses, financial statements, and organizational charts [4] Group 4 - Companies are advised to avoid exaggerating market size and to clearly define competitive barriers with authoritative data [6] - Key operational indicators, such as GMV, conversion rates, and customer churn rates, are critical for evaluating business models [14] - Companies should ensure the authenticity of financial reports through cross-verification with bank statements, tax records, and contracts [14] Group 5 - Companies should proactively address historical issues and communicate rectification measures to build investor confidence [16] - It is essential for companies to highlight their advantages and recent business developments during the due diligence process [16] - The due diligence report should summarize the company's basic situation, core advantages, risk points, valuation suggestions, and investment terms [4]

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].